From corporate social responsibility to creating shared value with suppliers through mutual firm foundation in the Korean bakery industry: a case study of the SPC Group

Abstract

This study introduces the transformation process of a company's non-market strategy from corporate social responsibility to creating shared value (CSV). The proposed framework depicts supplier relationship management (SRM) activity, through the case of a Korean bakery franchise, using non-market strategies as a tool for SRM. The analysis explains the backgrounds of the transformation and the ramifications of the changes on SRM actions, such as mutual firm foundations, long-term contracts, and temporal relations. A mutual firm is suggested as the representative form of CSV activity within a triple helix innovation that would create business and social value, ultimately achieving regional resilience.