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Shared Value in Ecuador: Corporación Favorita
Companies that practice shared value earn a profit in ways that benefit society. This report defines the emerging concept and practice of shared value and explores the utility of applying shared value strategies to business in Ecuador. It does so from the perspective of Corporación Favorita, a grocery retailer and the country’s largest company. This report analyzes the advantages and limitations shared value offers Favorita in concurrently advancing broad social objectives alongside its own economic and regulatory interests. It recommends Favorita adopt shared value through three initiatives, each of which draws on the core principles of the firm–responsibility, client service, and respect. These initiatives connect Favorita’s business challenges with social and political priorities in Ecuador.