internal and external stakeholders and the firm inclusion of Nestlé’s values, business principles and public commitments against which our company and products
are held accountable.
The purpose of this paper is to explain how key elements bring in practice
product innovation and renovation with a competitive advantage. Our values
framework, business model, Sustainability by Design program and integrated
product development approach are reviewed. A breakfast solution for schoolchildren who skip breakfast is presented as an example of consumer-centric product
development.
2 Creating Shared Value, the Nestlé Way
Guided by values rooted in respect, Nestlé works alongside partners and stakeholders to create shared value (CSV) across all the activities of the company, which
contribute to society while ensuring the long-term success of our business.
Three interconnected focus areas are identified wherein our purpose is realized:
(1) Individuals and families: to whom Nestlé offers products and services that
enable them to lead healthier and happier lives.
(2) Our communities: helping those we live and work with in developing into
thriving and resilient communities, enhancing rural livelihoods, and respecting
and promoting human rights.
(3) Our planet: stewarding resources for the future, caring for water, acting on
climate change and shaping sustainable consumption.
Our CSV priorities and efforts are supported by 42 specific, public commitments
with clear short-term timelines (2020) as well as three overarching medium term
(2030) ambitions for our focus areas. In particular, Nestlé aims to help 50 million
children lead healthier and happier lives, help improve the livelihoods of 30 million
in communities directly connected to our business activities and strive for zero
environmental impact in our business operations [1].
The recently updated and reframed commitments as well as newly introduced
ones [1] go further and deeper than the first set of them launched back in 2012. The
commitments were defined taking into account stakeholder recommendations and
issues material to our consumers, stakeholders and the company. The materiality
assessment is carried out every two years in collaboration with SustainAbility—an
independent consultancy specialized in corporate sustainability—using a formal
process entailing extensive consultations of stakeholders, investors and key opinion
leaders. Issues of concern in the environmental, social and governance areas are
identified and assessed in order to determine their business impact in terms of risks
and opportunities along with the level of interest stated by stakeholders. The
commitments were also aligned in scope and timeline with the Sustainable
Development Goals (SDGs) [2].
448
N. Espinoza-Orias et al.
are held accountable.
The purpose of this paper is to explain how key elements bring in practice
product innovation and renovation with a competitive advantage. Our values
framework, business model, Sustainability by Design program and integrated
product development approach are reviewed. A breakfast solution for schoolchildren who skip breakfast is presented as an example of consumer-centric product
development.
2 Creating Shared Value, the Nestlé Way
Guided by values rooted in respect, Nestlé works alongside partners and stakeholders to create shared value (CSV) across all the activities of the company, which
contribute to society while ensuring the long-term success of our business.
Three interconnected focus areas are identified wherein our purpose is realized:
(1) Individuals and families: to whom Nestlé offers products and services that
enable them to lead healthier and happier lives.
(2) Our communities: helping those we live and work with in developing into
thriving and resilient communities, enhancing rural livelihoods, and respecting
and promoting human rights.
(3) Our planet: stewarding resources for the future, caring for water, acting on
climate change and shaping sustainable consumption.
Our CSV priorities and efforts are supported by 42 specific, public commitments
with clear short-term timelines (2020) as well as three overarching medium term
(2030) ambitions for our focus areas. In particular, Nestlé aims to help 50 million
children lead healthier and happier lives, help improve the livelihoods of 30 million
in communities directly connected to our business activities and strive for zero
environmental impact in our business operations [1].
The recently updated and reframed commitments as well as newly introduced
ones [1] go further and deeper than the first set of them launched back in 2012. The
commitments were defined taking into account stakeholder recommendations and
issues material to our consumers, stakeholders and the company. The materiality
assessment is carried out every two years in collaboration with SustainAbility—an
independent consultancy specialized in corporate sustainability—using a formal
process entailing extensive consultations of stakeholders, investors and key opinion
leaders. Issues of concern in the environmental, social and governance areas are
identified and assessed in order to determine their business impact in terms of risks
and opportunities along with the level of interest stated by stakeholders. The
commitments were also aligned in scope and timeline with the Sustainable
Development Goals (SDGs) [2].
448
N. Espinoza-Orias et al.