Understanding CSV as a Sustainable Business Strategy in Asia: A Global Practice

Businesses engage in corporate social responsibility, even though fulfilling this obligation appears challenging from both a social welfare and commercial standpoint. The company prioritizes financial achievement, but social responsibility is the key to long-term success. Businesses have dominated the idea of shared value (CSV), which has the potential to impact society as well. The goal of contemporary companies is sustainable development, where generating shared value increases social value to gain profitability and competitiveness. To improve sustainable development without sacrificing profitability, shared value creation is important. Consequently, a new business strategy that considers the community and society for effective corporate competitiveness is creating shared value. To examine the use of CSV, this study examines the shared value creation status of businesses in seven Asian nations: Japan, Korea, China, Hong Kong, Pakistan, India, and Bangladesh. Reviewing entails identifying objectives, evaluating critically, synthesizing, and ultimately creating a theoretical framework. It is anticipated that CSV is not evenly considered; rather it is self, government-motivated, or only buzzword in seven Asian countries. The development of a sustainable framework that is oriented toward CSV is recommended as a strategy in Asia. JEL Codes: Keywords: Creating Shared Value (CSV); Sustainability; Business Strategy; Asian Business; Global Practice.