Creating Shared Value in Thailand: A Decade of Translating Theory into Practice and Reshaping Business–Society Relations (2012–2021)

Abstract

          This research primarily aims to synthesize the progress of applying the theory of Creating Shared Value (CSV) among various business organizations in Thailand—including multinational corporations, large enterprises, and small enterprises—a total of 30 cases. The study examines data collected between 2011–2021, which represents the first decade following the introduction of the CSV concept. Mixed methods were employed, including analysis of secondary data sources, in-depth interviews, and stakeholder dialogue workshops.

          The findings indicate that multinational corporations have attempted to reorient their corporate social activities toward alignment with their core products and services, consistent with CSV principles. Large enterprises have initiated various programs, including innovative product and marketing development, enhancing productivity along the value chain, and collaborative development with local communities. Meanwhile, small enterprises engaging in social entrepreneurship have adopted CSV as a strategic approach to drive business at both the product and organizational levels. To institutionalize CSV as a corporate strategy, it must be embedded through a dynamic combination of organizational-level strategic directives set by headquarters or top management and the skills, knowledge, and capabilities of personnel or company resources that can effectively respond to social needs or problems.