How Novo Nordisk Used Porter’s Concept of Shared Value Achieving Profitable Business and Healthy Society "Professional Approach"

Abstract

This paper aims to provide shared value as a new approach for pharmaceutical company to create social and economic value, in addition to that we aims to provide a theoretical background of the concept, then a practical contributions that ground understanding the concept of creating shared value.
 The authors analyse a single case study of Novo Nordisk. The objective is to show for professionals the importance of this new approach in creating social and economic value.
 We found that Novo Nordisk used this new approach of creating shared value by following set of social and economic programs; we also provide new approach of doing business for pharmaceutical companies.
 This single case study provides new approach to create social and economic value for pharmaceutical companies; however, more research is needed to find other approaches or testing the same approach in other industries.
 The paper has practical implications that relate to the design of shared value approach. We provide practical approach and ideas that could be applied by other companies to reach shared value creation professionals could use these ideas to create social and economic value. 
 A professional unique approach to create social and economic value for pharmaceutical companies.