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One central goal for companies nowadays is to create shared valued. This aim becomes more influential when companies decide to expand their businesses into developing countries where the link between corporate and society become stronger. The main aims of this study are: 1) to identify the business models that allow companies to invest in a developing country and create shared value in it; b) to define the characteristics of these business models. Starting from literature review two business models were identified: social and inclusive business models. From the case study analysis, it emerges that the two models are characterized by four common elements: the importance of achieving partnership with local organizations, the focus on pre-existent skills of the company, the value creation process in the value constellation, the development of innovative distribution models. The two models differ, for contrary, in terms of governance system in that the social business type is tied to the creation of a joint venture with a nonprofit organization, while the inclusive business is characterized by internal or external spin-off businesses, where the company is the sole promoter. The proposed framework gives businesses the information to analyze and evaluate possible alternatives for development in emerging markets through two models aimed at the creation of shared value. Laura Michelini e Daniela Fiorentino Nuovi modelli di business per la creazione di valore condiviso: il social e l’inclusive business Impresa Progetto Electronic Journal of Management, n. 1, 2011 ______________________________________________________________________________
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