Management Control Systems for Creating Shared Value
Keywords:CSV, Creating Shared Value, Management Control Systems
With creating business value based on Creating Shared Value (CSV) by Porter and Kramer (2011), CSV principle would be embodied in Management Control System (MCSs). The purpose of this study is to describe and analyze how Creating Shared Value integrates with a companyâ€™s management control systems. To consider, the researcher conducted a qualitative research throughout single case study to examine the incorporating of CSV and management control systems. The collecting data has been applied the semi-structured interviews with Bangchak Petroleum PLC, the leading company who create business wealth with due regard for social and environmental stewardship as well as elevating domestic corporate governance. The findings suggest that CSV integrates with several of the companyâ€™s management control system. Subsequently, organizational structure relied on business fields and strategic management. Moreover, CSV integrates with policies and procedures through BCP Knowledge Management System (KM), developed shared commitments, and workshops and training. Thus, to create social value while contributing economic growth simultaneously, there is essential to embed with the three dimensions of MCSs consisting of cognitive, organizational and technical.
ArjaliÃ¨s, D. & Mundy, J. (2013). "The use of management control systems to manage CSR strategy: A levers of control perspective". Management Accounting Research, Vol. 24, No. 4, pp. 284-300.
Durden, C. (2008). "Towards a socially responsible management control system". Accounting, Auditing and Accountability Journal, Vol. 21, No. 5, pp. 671-694.
Malmi, T. & Brown, D. (2008). "Management control systems as a package-Opportunities, challenges and research directions". Management Accounting Research, Vol. 19, No. 4, pp. 287-300.
Moon, J., Gond, J., Grubnic, S. & Herzig, C. (2011). Management control for sustainability strategy, Chartered Institute of Management Accountants, London.
Parisi, C. (2013). "The impact of organizational alignment on the effectiveness of firms' sustainability strategic performance measurement systems: an empirical analysis". Journal of Management and Governance, Vol. 17, No. 1, pp. 71-97.
Porter, M. E. & Kramer, M. R. (2011). "Creating Shared Value: How to reinvent capitalism â€“ and unleash a wave of innovation and growth". Harvard Business Review, Vol. 89, No. 1-2, pp. 62-77.
Porter, M. E., Hills, G., Pfitzer, M., Patscheke, S., & Hawkins, E. (2012). Measuring shared value- How to Unlock Value by Linking Social and Business Results, FSG - Shared value summit, Cambridge, Massachusetts.
Simons, R. (1995). Levers of Control, Harvard Business School Press, Boston.
How to Cite
- Papers must be submitted on the understanding that they have not been published elsewhere (except in the form of an abstract or as part of a published lecture, review, or thesis) and are not currently under consideration by another journal published by any other publisher.
- It is also the authors responsibility to ensure that the articles emanating from a particular source are submitted with the necessary approval.
- The authors warrant that the paper is original and that he/she is the author of the paper, except for material that is clearly identified as to its original source, with permission notices from the copyright owners where required.
- The authors ensure that all the references carefully and they are accurate in the text as well as in the list of references (and vice versa).
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under aÂ Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (SeeÂ The Effect of Open Access).
- The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.