Over the past few decades, businesses have contributed to their communities through corporate social responsibility (CSR) programs.
In essence, CSR programs enable businesses to incorporate values beyond the profit imperative (such as environmental sustainability) into their operations.
More recently, Harvard Business School Professor Michael Porter has promoted “creating shared value” (CSV), the notion that the competitiveness of a company and the well-being of the community are not mutually exclusive interests.
Another approach to community engagement that is an important advancement beyond CSR and CSV is what we call “community wealth building” (CWB).
An analysis of these three approaches and the outcomes they can produce warrants further research and discussion, particularly as anchor institutions across the country begin
to articulate their anchor missions.