Management Control Systems for Creating Shared Value

Authors

  • Thithit Atchattabhan School of Management, Huazhong University of Science and Technology
  • Nishchapat Nittapaipapon School of Management, Huazhong University of Science and Technology

Keywords:

CSV, Creating Shared Value, Management Control Systems

Abstract

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 company’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 company’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.

References

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Porter, M. E. & Kramer, M. R. (2011). "Creating Shared Value: How to reinvent capitalism – and unleash a wave of innovation and growth". Harvard Business Review, Vol. 89, No. 1-2, pp. 62-77.

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Published

2016-04-15

How to Cite

Atchattabhan, T., & Nittapaipapon, N. (2016). Management Control Systems for Creating Shared Value. Asian Journal of Business and Management, 4(2). Retrieved from https://ajouronline.com/index.php/AJBM/article/view/3745

Issue

Vol. 4 No. 2 (2016): April 2016

Section

Articles

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