If an insurance contract has a provision stating that in the event of the policy holder's death, the family of the policy holder will continue to receive the policy holder's monthly income for a period of time, this is an example of an endorsement or a rider.
Culture consists of the beliefs, behaviors, objects, and other characteristics common to the members of a particular group or society. Through culture, people and groups define themselves, conform to society's shared values, and contribute to society.
Shared value, then, is not about personal values. Nor is it about âsharingâ the value already created by firmsâa redistribution approach. Instead, it is about expanding the total pool of economic and social value. A good example of this difference in perspective is the fair trade movement in purchasing.