Hello and welcome to an exciting Shared Value Project update.

May is certainly the month for shared value. Just off the plane from New York and the global Shared Value Leadership Summit, and the Shared Value Project is facilitating and hosting a visit from Mark Kramer.

This edition of In Practice also serves to introduce our network to the establishment of Shared Value Project as a not-for-profit member organisation, Shared Value Project Ltd. We have evolved from being a burgeoning network of business leaders and practitioners, to a structured organisation offering a range of services for members.

Next week we have the privilege of hosting a dinner at which Mark Kramer, co-author of ‘Creating Shared Value’ (HBR, 2011), will provide a briefing on the status of shared value worldwide. He is joined by leading Australian company executives and directors.

The Shared Value Project will join Mr Kramer on Hamilton Island for the AICD Company Directors Conference. Chair, Peter Yates AM, and Executive Director, Helen Steel, will accompany Mr Kramer to network with attendees and highlight the growth of shared value in Australia, including the new programs the Shared Value Project is developing for 2014 and beyond.

We are also pleased to announce our newest founding member AIA Australia, one of nation’s leading life insurers, has launched its AIA Vitality program - a shared value initiative.

The Shared Value Project takes an exciting step forward as a not-for-profit company, appointing an Executive Director and Project Coordinator to lead the project into this new phase.

Over the past year, the demand from Australian corporations, not-for-profit groups, the media and individual practitioners for the Shared Value Project to assume a more public, leadership role has rapidly increased.

To meet this demand, it was clear that administration, governance and coordination of the Project needed to advance.

As a result, we are delighted to announce that, since March 1, the Shared Value Project has begun operations as Shared Value Project Limited, a not-for-profit company limited by guarantee.

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Mr Mark Kramer, co-author of ‘Creating Shared Value’, to visit Australia and deliver keynote presentation to some of Australia’s leader directors.

Mr Mark Kramer, co-founder and Managing Director of FSG and co-author of ‘Creating Shared Value’, will join some of Australia’s leading directors on his trip to Australia later this month in partnership with the Shared Value Project. Mr Kramer will give a keynote presentation at the AICD Company Directors Conference, Directorship:14 taking place Wednesday 21st May to Friday 23rd May, providing an opportunity for Australian Directors to hear from Mr Kramer amongst leaders of corporate Australia and the rest of the world, examining futuristic issues and trends.

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The Shared Value Project, and AIA Australia will host a private dinner in Sydney in company of some of Australia’s leading businesses to honour Mr Mark Kramer, Senior Fellow, Harvard Kennedy School of Government and Co-Author of Creating Shared Value (HBR, 2011).

Following his keynote address at the AICD Company Directors Conference, ‘From Corporate Social Responsibility (CSR) to Creating Shared Value (CSV) - bringing business and society back together’, Mr Kramer will provide insight and encourage discussion on the status of shared value development, worldwide.

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AIA Australia, one of Australia’s leading life insurers and the Shared Value Project’s newest Founding Member, has launched AIA Vitality into Australia. As a shared value initiative, Vitality addresses preventative health challenges affecting Australians and various sectors across the country, as a program that has a significant positive impact on Australia’s health, while at the same time revolutionising the life insurance industry.

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Adjustments to existing business systems and tools will steer the business toward shared value creation.

New and different people need to be in the room but the power of this new approach is that it makes sense to more professions than CSR did. Although they are critical to its success, it is not the sole domain of the sustainability and corporate affairs teams. More people will own its success.

Getting them across the line requires education on two different perspectives. Firstly, that social value creation is good (and maybe even transformative ) business. Secondly, that they don't have to change what they do, just the questions they ask.

In developing our Social Thinking model, we have found existing systems that, reoriented or subtly augmented, will create shared value. Here are three of them....

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On May 13-14, 2014, Shared Value Project's Helen Steel had the priviliedge of joining nearly 400 fellow shared value practitioners in New York.

"This cross-sector community came together with the common belief that business has the potential to find better solutions to our world’s biggest problems—in ways that help people and profits."

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