Discuss the difference between economic value and social value or the shared value creation framework. Why do you think organizations tend to focus on the creation of one type of value but not both?
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Write My Essay For MeEconomic Value and Social Value
In economics, economic value refers to the most an economic agent is willing to part with to access and enjoy the benefits of a given product or service. It is the measure of the gains generated from a given commodity and it is normally defined in terms of money (Paul et al., 2020). As long as the created value is appreciated by all the relevant stakeholders, then the economic value of the product or service in question remains sustainable. On the other hand, social value is characterized by the degree of importance…
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