Creating shared value in Rock in Rio business model case study

Repositório ISCTE-IUL Deposited in Repositório ISCTE-IUL: 2018-07-18 Deposited version: Post-print Peer-review status of attached file: Peer-reviewed Citation for published item: Ribeiro, T. D., Ferreira, P. A. & Vaz, Maria João (2018). Creating shared value in Rock in Rio business model: case study. In 2018 13th Iberian Conference on Information Systems and Technologies (CISTI). Caceres: IEEE. Further information on publisher's website: 10.23919/CISTI.2018.8399348 Publisher's copyright statement: This is the peer reviewed version of the following article: Ribeiro, T. D., Ferreira, P. A. & Vaz, Maria João (2018). Creating shared value in Rock in Rio business model: case study. In 2018 13th Iberian Conference on Information Systems and Technologies (CISTI). Caceres: IEEE., which has been published in final form at https://dx.doi.org/10.23919/CISTI.2018.8399348. 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Serviços de Informação e Documentação, Instituto Universitário de Lisboa (ISCTE-IUL) Av. das Forças Armadas, Edifício II, 1649-026 Lisboa Portugal Phone: +(351) 217 903 024 | e-mail: [email protected] https://repositorio.iscte-iul.pt Creating Shared Value in Rock in Rio Business Model Case Study Abstract — This discourse will attempt to discuss ‘Creation of Shared Value’ (CSV) through the case study of the music festival ‘Rock in Rio’ (RIR) in order to further understand the company’s sustainability program. The main goal is to clearly recognize if RIR uses a genuine practice of CSV to accomplish their social policies. RIR establishes a genuine practice of CSV as an enterprise policy, however we have found some traces in the communication channel of the BM. In our opinion, if there was clear evidence of CSV practice in RIR BM, it would appear in the value proposition bloc, articulated with the clients segment and partnerships. To commence, we started with the State of Art, studying the CSV theory created by Porter and Kramer, as well as the authors that were either in support of, or against, the strategy. Qualitative Research Method was used, thus focusing the enterprise case study, by analysing media interviews given by the managerial staff of RIR. Content analysis was used to process data and deliver results. The main limitation of this study was the lack of institutional information from RIR, this was due to a deficit of responses in sufficient time, to the questionnaire, and therefore didn’t allow for a triangulation of the information acquired. The main limitation of the study was the lack of institutional information, due to an absence of responses, to the survey in sufficient time by RIR’s managers, subsequently a triangulation of the information acquired could not be achieved. Keywords - Rock in Rio (RIR); Creation Shared Value (CSV); Business Model (BM); Business Model Canvas; Sustainability. I. INTRODUCTION Creation of Shared Value (CSV) was a theory created and published by Porter and Kramer (2006) in Harvard Business Review (HBR), it aimed to change social responsibility theories, and to develop a better world where a company and society could come together for a common good. These theories may have seemed a little utopian, however the authors were able to present valuable arguments that demonstrated their feasibility. The CSV comes as an alternative to the well-known policy of Corporate Social Responsibility (CSR), Sustainability and Philanthropy. It uses much better tools to create social and corporate values, it endeavours to find solutions to problems, and subsequently turn these solutions into new forms of competitive advantage. Next we will present the theoretical part of this study, introducing CSV and its evolution according to Porter and Kramer. Then, we will explain its application to Rock in Rio’s (RIR) Business Model (BM). This study was developed under a qualitative methodology, and it used the content analysis of media interviews to create a presence index, where we can prove the existence, or not, of CSV in RIR BM. The first conclusion drawn shows that CSV is substantially different to CSR, Sustainability and Philanthropy policies, nevertheless it is still a mixture of them all. There is no solid evidence that shows us that Since RIR already has a strong policy of Sustainability, it would be worthwhile for the company to adopt a genuine policy of CSV. It would simultaneously contribute to the creation of economic and social value, and as a communication and marketing tool. II. STATE OF ART A. Porter and Kramer Creating Shared Value’s concept Nowadays, CSV is a theory that is drawing the attention of managers and economists, as the growing concern of many companies to do some form of social good becomes prevalent. Shared Value is created when companies generate value for society, particularly in terms of social environments, in addition to creating value for themselves [13]. The authors outlined the theory in the article 'The Competitive Advantage of Corporate Philanthropy’ which demonstrated how it is possible to make a company competitive through Philanthropy [17]. In the majority of their articles, Porter and Kramer criticize the enterprise’s use of CSR, Sustainability and Philanthropy stating that it is only being introduced into the policies of the company for marketing purposes; and to coerce society into believing in their good practices; however behind closed doors, they are solely concerned with their profits [11]. For the authors, there are huge differences between these four concepts. They claim that: 1) Philanthropy has its focus on societal development; 2) Sustainability focuses on environmental issues, and their impact in society across three pillars, which are economics, the environment and society; 3) CSR tries to reduce the damage in society while cleaning the image of the enterprise and increasing its value. 4) CSV apprehends better opportunities of competitive advantage through the resolution of social problems, assimilating them to the company strategy. Using CSV, the authors endeavour to lessen the gaps in wealth perpetuated by escalating capitalism, bringing business’ closer to society. They wish to reinforce the idea that better work conditions, better healthcare, as well as a better educated populace makes a company more productive [12]. Finally, Porter and Kramer present the bullet points of CSV [13]: 1) Reconceiving products and markets; 2) Redefining productivity in value chain; 3) Building supportive industry clusters at the company’s location. B. Other authors reviews about Creating Shared Value concept Nevertheless, the popularity of CSV in some of the larger enterprises such as Nestlé, Coca-Cola and CISCO is dubious, it is still deemed a controversial theory. After being published in HBR, there are many authors challenging and testing the outcomes. It is possible to see in Table I and Table II, the majority, somehow, agree with the benefits of the application of this concept to the business world, although it is key to note there is still some mistrust of the genuine outcomes. TABLE I. TABLE II. ANALYSIS OF CASE STUDIES USING CSV CONCEPT Author Florin, J. & Schmidt, E. (2011) Micheline, L. & Fiorentino, D. (2011) Pros Cons Spitzeck, H. & Chapman, S. (2012) Schmitt, J. & Renken, U. (2012) Maltz, E. &Schein, S. (2013) Pavlovich, K. & Corner, P. D.(2014) Christiansen, N. (2014) Negative Criticism X Positive impact in society; Suggestion to create a business model focused in CSV. Difficulty of maintaining two goals in the mission of a company (social and economic); Difficulty in measuring the efficiency of the CSV application impact. X Growth in employability; Development of local entrepreneurship; Access to new products and services; Increase of quality of life; Knowledge of markets; Access to local networks; Development of social responsibility. Risks of privatization of public goods; Oligopolistic markets; Guidance for profit; Long term economic sustainability; Management complexity. X Appreciation of the positive impact of the CSV; and the theory of Adam Smith Invisible Spectator Test( IST) Necessity of regulators (IST) in order to have benefits both for society and the company; ANALYSIS OF THEORETICAL SCIENTIFIC ARTICLES USING CSV CONCEPT. Author Positive Criticism Pros Cons Positive Criticism Negative Criticism Examining the creation of value for society through the application of CSV in the case study. Lack of novelty; Lack of concrete application methodology. X Configuration of product in the value chain; Use of creativity and innovation that leads to economic development. Limited application; Theory is very close to sustainability; Articles merely technical; Need of in-depth knowledge. X Agreement with CSV theory; Emphasis on company's profits vs social benefits. Purely economic approach. X Using CSV, managers can become more conscious and at the same time innovative. Subsequently there would be more opportunities for the company to be better positioned in the market. X CSV in Nestlé, showing positive results for the company as well as for society. X Szmigin, I. & Rutherford, R. (2013) Beschorner, T. (2013) Hartman, L. P. & Werhane, P. H. (2013) X X Crane, A., Palazzo, G., Spence, L. J., Matten, D. (2014) Rocchi, M. & Ferrero, I. (2014) a. Source [15] [16] Generalist approach; Oversimplified assumptions; Ambitious concept; Lack of novelty; Misunderstandings at a terminological and conceptual level; Purely economic approach. X X Agreement in most CSV points; Add some suggestions. It is not the only form of business awareness; Lack of definition in specific problems. Successful appeal to professionals and schools; Raises social issues at the strategic level; Articulate a clear role for the responsible behaviour of governments; Adds rigor to the ideas of “conscious capitalism" and builds a link between concepts. The concept lacks originality; Ignores the tensions between social and economic objectives; It is naive in relation to business compliance challenges that companies face. Compliance with the values of CSV concept, adding some points to improve it (Systematic CSV). Incomplete conceptual model; Little discrepancy of values between Social Responsibility and the CSV. b. Source [15] [16] The criticism presented by the majority of the authors is the lack of originality of this concept, arguing that it is not that different from CSR [3] as well as the difficulty that a company has in maintaining two goals simultaneously. When a company faces a crisis and has to decide between society and profit, it is almost certain which must be chosen, this being profit [8]. CSV also represents a strategy that requires long term investment, therefore there are few companies that are willing to take a risk. Most companies prefer to focus solely on investments that drive profit and not on the application of a new concept, which may not proffer a huge return, or a return at all. There are a few multinational companies investing time and resources into this concept, however their strong financial position allows them a certain financial tolerance to a loss from the wrong investment. Despite it being a controversial concept, it would be interesting to further explore if RIR, as a multinational company, uses CSV as a policy in its managerial strategy. Given RIR’s long history of sustainability practices, it would be very relevant to ascertain whether any of them could possibly fit in CSV. C. Rock in Rio History RIR was first placed in Rio de Janeiro (Brazil) in 1985. The festival was created by Roberto Medina, who owned an advertisement agency at the time, its main goal was to be the biggest festival in the world. In 2018, RIR celebrates its 33rd birthday, and takes place now in Rio de Janeiro (Brazil), Lisbon (Portugal) and Las Vegas (USA). The festival also happened for a few years in Madrid (Spain), although for many reasons the company decided to discontinue it in this location. D. Rock in Rio Business Model and Sustainability Since RIR was conceived by professionals in the advertising industry, the strongest point of its business model is clearly its communication channels, the key partnerships, as well as the value proposition [16]. In order to achieve the main goal of RIR, which has become the biggest festival in the world, these blocs of canvas business models are crucial [16]. Placed within the block of the value proposition is the sustainability program of the festival “For a Better World”, which has been established since 2001, when the festival became profitable, accomplishing the economic pillar of sustainability. In 2004 it reached the social pillar, when the company was able to - from their profit - build a school in Tanzania. Finally, in 2013, the festival received the ISO 20121 certification, thus achieving the third pillar of sustainability, the environmental pillar. The main goals of RIR in its sustainability program to accomplish between 2015 and 2017 [16]:  Reduce, quantify and offset  Comply with all applicable laws and regulations  Generate returns  Continual improvement It is noticeable that the festival has policies with regards to sustainability, and on closer analysis it is evident that the majority of the festival practices contain traces of CSV, mainly in the social pillar of sustainability, where it describes the way RIR tries to integrate the inhabitants from neighbourhood’s next to the festival arenas by hiring them for the event. Furthermore the festival tries to hire small and medium sized business’ to build its arenas. In Results the use of CSV in RIR business model will be discussed in detail. III. RESEARCH DESIGN AND METHODOLOGY The methodology chosen for this case study was the qualitative content analysis due to the sources of information collected. The case study approach is appropriate for describing, analysing and understanding formal and informal processes in organizations [4].Content analysis is a research method for studying documents and communication artefacts, which can be texts of various formats, pictures, audio or video. In this case study, the data was collated from press and media interviews by RIR’s managerial team, to therefore obtain as much information we could about RIR BM and the use of CSV in RIR. A. Methodology The main questions we wish to answer in the conclusion of this paper are:  Is there any evidence of the use of CSV in RIR sustainability policies?  Is there any evidence of this practice by RIR, and if so in which bloc of Business Model Canvas could it be inserted? The main goals to be accomplished are:  To check the existence of CSV in RIR’s Sustainability policies  Identify in which bloc of Business Model Canvas the practices are inserted In order to achieve the proposed results, the following documental analysis process will be used: 1. Analysis of scientific and academic papers about CSV and BM.  Rational use of energy 2. Description of theory basis for each subject  Reduce, recycle and reuse 3. Construction of the analytical framework.  Optimize the use of transport  Promote the use of public transport and assure accessibility for all  Implement water consumption efficiency measures In order to do the content analysis, the following process was used, which enabled better organization and selection of information. 1. Research from media articles, interviews and news 2. Building of a data sheet with all the information collected 3. Transcription of audio/video interviews 4. Construction of an analytical framework 5. Analysis of interviews one by one 6. Presentation of results Policies En 3200 young people at risk were educated. Construction of a school in Tanzania; Construction of health units in various locations in Brazil. 400 attendants at the school in Tanzania; 50 thousand users per year in the health facilities. X Commitment to compensate for C02 emissions and greenhouse gases through planting of trees. Built 14 Snoezelen rooms—sensorial stimulation rooms—used by more than 1,000 children each year. 75 thousand trees planted in Pampilhosa da Serra by 2016; Treatment of one thousand children per year. X 2008 300 buses available for public transportation; Rock in Rio Solar School: - 400 solar panels were installed in 20 Portuguese schools, which will last at least 15 years. The money raised from the sale of the energy produced therein is applied to social and environmental projects. Offset its carbon emissions; Incentive in renewable energies; Support for social and environmental projects. X X X 2010 300 buses available for public transportation; Rock in Rio Solar School: - 400 solar panels were installed in 20 Portuguese schools, which will last at least 15 years. The money raised from the sale of the energy produced therein is applied to social and environmental projects. Offset its carbon emissions; Incentive in renewable energies; Support for social and environmental projects. X X X Installed music classrooms in 10 Brazilian public schools Donated 2,200 music instruments to 150 Brazilian NGOs 40 juveniles trained as Luthier assistant Support to projects of artistic education and professional integration of young people X 2004 2006 2011 c. X Ec En S 2013 X X X 2014 Invested in a project that aims to train 60 unemployed young women in housekeeping, giving them tools to improve their life and self-esteem. Celebrated 10 years and invited 800 beneficiaries of the projects that Rock and Rio had supported. Training of the unemployed trying to integrate them into the workplace; Reduction of CO2 emissions. X X X 2015 126,435 trees planted at river Guandu margins, contributing to the water supply of the Rio de Janeiro metropolitan area; Reforestation of more than 350 acres with 60,000 trees in California’s ShastaTrinity and Los Angeles National Forests. Reduction of CO2 emissions; Auction revenues to support tree planting in the US, contributing to the reforestation of more than 350 trees in Shasta California's Trinity and Los Angeles. X X Amazonia Live - 40,000 trees planted through fundraising in Portugal. Reduction of CO2 emissions. Amazonia Live is the social project of Rock in Rio until 2019 that intends to plant around 1 million trees in the Amazon. X X S 28 educational joint projects with UNESCO to educate young people in deprived situation. 2001 Results Raise awareness and educate the population about pollution problems; Reduction of CO2 emissions. Results Ec Policies Awareness campaign based on correctly collecting and disposing of waste in Rio de Janeiro. First event in South America with ISO 20121 – Sustainable Events standard certification. ANALYZING Sustainability Year ANALYZING Sustainability Year B. Data In order to answer the main investigation question and to accomplish the main objectives, data was collected from sixteen public interviews, with a total length of five hours, and sixteen public documents, with a total of ten pages, available in different formats (video, digital and print). TABLE III. SUSTAINIBILITY IN RIR BM IN 2001-2011 TABLE IV. SUSTAINIBILITY IN RIR BM IN 2013-2016 X X X X X 2016 d. EC – Economics; EN – Environmental; S – Social. Source [15][16] From the data presented in Table III and Table IV it was possible to confirm the assumption that RIR uses a strong sustainability policy which must not be confused with CSV. Nevertheless it is possible to notice some measures which can be framed in both conceptual models. For that reason it was considered extremely important to build an index in order to understand which practices might be part of a genuine CSV policy. IV. RESULTS The results reported in Table V were obtained through analysis of press and media (video and audio) and interviews given by RIR’s managers. Unfortunately it was not possible to receive responses to the questionnaire in sufficient time. X X EC – Economics; EN – Environmental; S – Social. Source [15][16] Through the analysis of the data collected, it is possible to find slight traces of CSV, mainly connected with the social pillar of the sustainability program For a Better World. The main questions we want to be answering with this article is: Is there any evidence of the use of CSV in RIR sustainability policies? In order to deliver the results, the main assumption we use in this index is Value creation to society though enterprises in Porter and Kramer’s concept through the Verification of sustainability policies in RIR. TABLE BUILT TO ANALYSES CSV EXISTENCE IN RIR’S BM. V. CSV from Porter e Kramer Assumptions Value creation to society though enterprises CSV corporate oriented mission CSV in RIR BM (Content and documental analysis) CSV evidences Verification of sustainability policies No To be the bigger music festival in the world “Our vision is to be more than the greatest music and entertainment event in the world, and to use the power Corporate vision of the Rock in Rio brand as a oriented to CSV driving force to achieve our commitment to supporting a Business better world” orientation Corporate Values Stewardship; Inclusiveness; oriented to CSV Integrity; Transparency The goal was to demonstrate that small day-to-day attitude Objectives oriented changes have a major impact to CSV on the planet, and these attitudes can transform the future” General strategy lines of the Sustainability enterprise Social issues CO2 emissions, pollution and Strategy identification excessive energy expenditure Solving social issues Reduction and compensation tight to enterprise of CO2 emissions strategy Product Reconfiguration of products reconfiguration to make them less polluting Influence on sponsors and Reconfiguration of suppliers to improve their Implementation value chain materials methods Hiring of residents near the festival arena; Support to Cluster local companies through establishment contracting, partnerships Hiring of residents near the festival arena; Support to Society local companies through contracting, partnerships Partnerships with local Partnerships governments in order to get Government infrastructural counterparts Social project´s partnerships NGO's (educational) Strengthening the Strengthening the visibility company of the company through the (Grown sustainability policies competitiveness) implemented Results Improvement of life Strengthening the conditions through the hiring society (improving of residents and support to the living conditions local companies, but the of the population) impact is not relevant. Hiring of residents near the festival arena. CSV initiatives Support to local companies through contracting, partnerships, etc. a. No No Yes Yes No No No No No Yes Yes RIR is clearly a business orientated not just to make profit, but also to implement sustainability policies that have huge concerns with environmental and social policies. For example, we found there was a constant necessity of the managers to speak not only about the profitability goals, but also about their environmental and social objectives. In this bullet point of the index it is possible to notice some residues of CSV, mainly when the company managers claim their values are: Stewardship; Inclusiveness; Integrity; Transparency as well as wanting to make a difference in society over a long term period transforming the future. Within RIR’s strategy it is not possible to find any traces of CSV. Here RIR’s managers mainly refer to environmental goals such as reduction of CO2 emissions, energy expenditure as well as the sustainability project. As implementation methods we used as main bullet points Porter and Kramer’s CSV methodology [13]: ) Reconceiving products and markets; 2) Redefining productivity in value chain; 3) Building supportive industry clusters at the company’s location. It was possible to find all of these point’s although two of them are actually environmental driven. Only in the cluster establishment was it possible to find CSV related activity the wain which RIR decided to hire its workers, giving preference to residents near the festival arena, as well as to support local companies through partnerships to build the festival arena. Here there are noticeable CSV traces, although it is important to take into account that the festival is bi-annual in each of their locations, so therefore impact it has on the development of local clusters is almost insignificant. Within the partnerships we can find three main actors – society; governments and NGO’s. As referred to in cluster establishment RIR have policies of CSV concerning society partnerships with the hiring of residents near the festival arena. The government partnerships are only available through the lending of public spaces in the cities, subsequently does not represent CSV. However, partnerships with NGO’s in order to accomplish educational projects might show CSV traces, but again only slight traces. No Yes No Yes Yes Yes Source [15][16] The results we expected to find in this index were related to Porter and Kramers grown competitiveness and the improvement of life conditions to the population. On the one hand, grown competitiveness is made by the sustainability program, strengthening RIR’s visibility, on the other hand the way in which RIR tries to improve living conditions in the clusters near to the event by hiring residents and contracting local companies proves some CSV traces. V. CONCLUSIONS, LIMITATIONS AND SUGGESTIONS A. Conclusions After data collected analysis, starting with the State of Art and finishing with interviews and news analysis it is safe to say that there is no genuine practice of CSV in RIR BM. However we can say that there are some traces of it in the For a Better World sustainability program. Since the sustainability program is placed in the value proposition of RIR’s BM we must say that if there existed any CSV policy in the company, it would be in this canvas business model too [15]. In addition to these conclusions proposed, it was possible to discover that CSV is actually a mix of CSR, philanthropy, and namely sustainability. [2] [3] [4] [5] We must also say that the CSV implementation is harder to implement in small and medium size companies due to the volume of investment with no certain return. [6] B. Limitations The main limitation of this study was the lack of institutional information from RIR, this was due to a deficit of responses, in adequate time, to the questionnaire, and therefore didn’t allow for a triangulation of the information acquired. [8] Despite the deficit of responses to the questionnaire, it was possible to accomplish the final result of the study through the analysis of media and press interviews and news. Nevertheless results would have been more accurate with managerial information. C. Suggestions For further investigations it would be interesting to have corporate information, with detailed sustainability strategies in order to clearly evaluate the measures implemented by RIR. The impact of CSV could also be studied in corporate marketing, measuring both the impact in society as well as the impact in a company’s profit, in order to understand who earns more advantage with CSV implementation. 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