This document discusses Professor Michael Porter's concept of "shared value", which is defined as corporate policies and practices that enhance competitiveness while also advancing social and economic conditions in communities where companies operate. Porter argues that shared value represents the next evolution of capitalism and will be a defining characteristic of business in the post-crisis era. He outlines three levels for creating shared value - reconceiving products and markets, redefining productivity in the value chain, and enabling local cluster development. The document provides examples of companies creating shared value through their products, operations and engagement with local suppliers and communities.