Ever since the growth of the internet and digital technologies, printing has been one of an increasing number of communication alternatives. The recession has accelerated social media and mobile communication trends now on the scene.  Printers and print suppliers are faced with what do I do now? How do I participate? Where is my business going? Business strategy is more important than ever.

I recently read an article published in the January-February 2011 issue of the Harvard Business Review called "Creating Shared Value" by Michael E. Porter and Mark R. Kramer. The article discusses companies' narrow view of profitability and ways to expand their focus. Today printers and print suppliers are creating strategies that work on profitability, environmental responsibility and social issues without tying all three together. The principle of shared value is the proposed solution in this article, which involves creating economic value in a way that also creates value for society.  By addressing society's needs and challenges, companies can also create economic value.

The shared value approach focuses on connecting social and economic issues.

Customers have driven the latest environmental movement by their need to be socially responsible and printers need to comply with local and state regulations. Companies are usually reacting to a new regulation or customer demand rather than an ongoing effort to help society. These additional requirements are viewed as costing money rather than creating profitability. The same can be said for social programs and additional health and safety requirements.

The shared value approach focuses on connecting social and economic issues. Societal needs, not just conventional economic needs, define markets. According to Porter and Kramer, there are three key ways that companies can create shared value opportunities: