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Economic social value value may be created across

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Economic social valueValue may be created across three main dimensions of economic, social and ecological(Wheeler et al. 2003). Economic responsibilities of business represent the main aim of every companyof producing goods and services that society needs, in a profitable way (Davis 2006). Nestlé, theworldwide leading company in the food and beverage segments, was successful in implementing itsCreating Shared Value strategy in its business strategy and operations, creating both economic andsocial value. The principle of Creating Shared Value involves creating economic value that alsocreates value for society by addressing its needs and challenges. This way, a company`s strategyshould not only create economic value for its shareholders, but also create social value for society.Nestlé was able to implement this concept, creating both economic and social value across its entirevalue chain (Maria 2013).H4: There is a significant relationship between economic social value and value creationtowards Nestléproducts.2.2.2 Dependent VariablesValue CreationAccording to research by (IPCC, 2019), the food business accounts for a phenomenal 37% ofworldwide greenhouse gas emissions. This estimate includes everything from land usage to packingand shipping. That is why Nestlé has made significant promises to reach net zero greenhouse gasemissions by 2050 and to make 100 percent of our packaging recyclable or reused by 2025 (Askew,2020). Nestlé is accelerating its long-term value development plan. Nestlé is increasingly focused onhealthier meals and drinks that improve people's quality of life. Consumers are willing to spend moreof their available cash on decent food, in keeping with the growing trend toward healthy eating. Thefirm anticipates that investing in its brands and innovation will result in long-term revenue growth(CNS Media, 2018).2.3 Theoretical framework7 |P a g e
Names of Author(s)A framework has been developed considering all the major variables to test the localizingsustainable development of value creation Nestléproducts. The independent variables are productQuality, Consumer Perceptions, Creative Innovation and Economic Social Value. The dependentvariable is value creation. All the independent variables are factors for value creation in Nestléproducts and how consumer response is to nestle products.A hypothetical model has been developed to test the hypotheses from the research issues andresearch gap as shown in Fig. 1.Fig. 1 Theoretical FrameworkSource: Developed for the research8 |P a g e
Names of Author(s)3.0 METHODOLOGYThere are two types of data: primary and secondary data. Primary data sources includesurveys, observations, experiments, questionnaire, personal interview etc. On the other contrary,secondary data collection sources are government publications, websites, books, journal articles,internal records etc. (Ajayi, 2017). The researcher collected from the secondary sources. Primary datathrough survey research was used to observe the value creation in Nestléproducts. As for data in theresearch paper, the researchers used primary data and secondary data in order to discuss in deeperabout the topic.

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Ethics, Spearman s rank correlation coefficient, Anglo Swiss Milk Company

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