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Western Cape Business 2022

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FOCUS<br />

In this context, purpose has an important place<br />

within business strategy. When used to its full<br />

potential, it can reach beyond risk mitigation – or<br />

doing no harm – to actually create new value for<br />

business (and society). Shared value is a framework<br />

designed to create business solutions to social and<br />

environmental problems. Put differently, it’s a means<br />

to deliver on your purpose, profitably.<br />

Shared value<br />

The creation of both societal and business value is<br />

integral to shared value.<br />

Societal value comes from vastly improving<br />

the conditions in which we live; advancing health<br />

outcomes, education, employment, financial or<br />

digital inclusion, service access and participation<br />

and/or helping to reduce our impact on the<br />

environment.<br />

Meanwhile, business value can range from<br />

increased revenue or market share to improved<br />

productivity, greater efficiency, reduced costs,<br />

improved quality, a more secure supply chain or a<br />

more skilled or productive workforce.<br />

The principle of striving towards shared value<br />

in our work with the local community, existing<br />

industrialists and new investors is underpinned by<br />

commitment to positive contribution towards the<br />

United Nation’s Sustainable Development Goals<br />

(SDG). The SDGs form a blueprint of addressing<br />

global inequities and achieving a more sustainable<br />

future for all.<br />

Working in close collaboration with the<br />

Infrastructure team, the IES team supports<br />

the Atlantis community through skills and<br />

enterprise development, coupled with<br />

community integration. This is done to enable<br />

the Atlantis community, notably its youth, to tap<br />

into increased job opportunities, locally as well<br />

as in the buoyant green economy. Green skills<br />

development and growing technical capabilities<br />

within the community form part of the ASEZCo’s<br />

strategic objectives, aligned to the legislative<br />

requirement of the SEZ Act to grow the regional<br />

economy and drive socio-economic impact. This<br />

includes a range of interventions to support<br />

the skills development pipeline, some starting<br />

at foundational level, going through to school,<br />

college and ultimately at the workplace.<br />

The IES programmes are anchored by<br />

intentional, continuous and wider stakeholder<br />

community engagement, through our Community<br />

Stakeholder Network (CSN). This elected group of<br />

community leaders hail from a variety of sectors,<br />

such as small business and informal traders,<br />

education, youth, women and people with<br />

disabilities, Early Childhood Development, faithbased<br />

and traditional council and cultural groups.<br />

The CSN serves as a conduit for meaningful<br />

communication between the ASEZCo and the<br />

Greater Atlantis Community, therefore ensuring<br />

dialogue between the public and private sector<br />

and the community at large. The principles of<br />

multi-stakeholder engagement and collaboration<br />

provide a feeding ground for fostering local<br />

innovation, the co-creation of solutions and a<br />

conducive business environment.<br />

References<br />

https://sharedvalue.org.au/about/shared-value/<br />

https://www.un.org/sustainabledevelopment/<br />

sustainable-development-goals/<br />

15 WESTERN CAPE BUSINESS <strong>2022</strong>

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