Treasuring Social Value In Business

Jane Chang 's journey back to Malaysia is a story of passion and purpose. After spending ten years as a senior lecturer at Westminster Business School, where she taught and led by example, Jane returned to Malaysia and co-founded Social Value Malaysia. But what is social value? Does it mean your value in society? Or the values that society holds??

The Rise of ESG and the Importance of Social Value

How? Social value is the impact that individuals and businesses have on their surrounding society. This impact is caused by their operations and practices, which in turn are a result of business decisions. At its core, social value is people-centred, focusing on the well-being of employees, customers and the surrounding community. It also goes beyond mere money-making means to considering factors that contribute to well-being and that emphasise the importance of understanding stakeholders.?

Social value goes beyond the immediately measurable and visible, to consider the people surrounding the company and its practices and products. Jane Chang enthuses, “It's about leaving the world a better place than we found it and that's a cause worth getting passionate about.”

The Value Of Social Value Malaysia

Jane Chang co-founded Social Value Malaysia to drive this exact change in Malaysia, accomplished through providing training and consultancy services for businesses and individuals. They help integrate social value and sustainability into core operations and align these operations with the United Nations’ Sustainable Development Goals (SDGs). SDGs are goals set by the UN as part of the blueprint for a more peaceful and prosperous world. So, Social Value’s ultimate goal is to foster a more sustainable and equitable Malaysia.

Practically speaking, Social Value Malaysia provides tailored support, training and assurance services to equip businesses and individuals with the necessary knowledge and skills to access their operations and business areas. They can then implement better practices that bring them in alignment with SDGs. In essence, Social Value Malaysia is the trainer, enabler and third-party support acting as an all-rounded resource to empower stakeholders to have a better social and sustainable impact.

Practice Makes Perfect

Now, what are these actual practices? It may seem hard to pinpoint because there is no hard and fast checklist that applies to the many unique businesses and entities. Instead, they encompass a range of strategies aimed at reducing negative outcomes while enhancing positive contributions. This includes everything from reducing carbon footprints to supporting local communities and ensuring fair labour practices and for each company, it will look different.?

However, the ultimate goal stays the same: aiming to implement as many, if not all 17 SDGs as possible which will then equate to having a powerful social and environmental impact. The reason behind this power is that the SDGs address prominent global issues: poverty, economic growth, and climate change are just a few.

Moving Towards A National Change

And because these SDGs are nation-impacting, as a natural result businesses who successfully implement SDGs also make changes in their country, in this case, Malaysia. They become part of a larger movement towards responsible and impactful economic development, ever progressing towards a more sustainable and equitable future for Malaysia, where less poverty and hunger, better well-being, more environmentally friendly habits and stronger economic growth become the fabric of the nation.?

This empowers both businesses and individuals to make meaningful contributions to society, driving a ripple effect of positive change across Malaysia.

The Malaysian SDG Future

Jane Chang sees immense potential in Malaysia’s future, one that is thriving, where businesses drive progress in society and are environmentally responsible. As other countries have already embraced the relationship and impact that businesses have on the surrounding community, she hopes and works towards the same for Malaysia.

The MyHeart Portal provides a platform for Malaysians abroad to connect, collaborate and co-create, fostering a positive impact on Malaysia's economic landscape and future workforce. With members spanning over 50 countries, it serves as a global hub for Malaysians worldwide. Stay connected, explore opportunities, and stay informed about developments in Malaysia through the MyHeart Portal at www.myheart.my. Join us in the journey towards sustainability and better ESG practices in Malaysia, whether by returning home or contributing your expertise and passion from abroad.