Respond to the following in a minimum of 175 words: Discuss the difference between economic value and social value or the shared value creation framework. Why do you think organizations tend to focus...

Running Head: STRATEGIC MANAGEMENT                        1
STRATEGIC MANAGEMENT                                2
STRATEGIC MANAGEMENT
Economic Value:
Economic value is referred to as that value which a user is willing to pay for the economic good based on benefits derived out of it. It can be higher than the market price. There are some economic values, which influence the future purchasing decision such as flexibility, convenience, aesthetic, cost, emotions, looks, reliability, efficiency, satisfaction and speed. It helps in allocating resources and making strategic choices (Weerawardena, Salunke, Haigh & Mort, 2019).
Social or Shared Value:
It is a kind of...