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Implementing M2W in the Firm

In: From Me to We

Author

Listed:
  • Ricardo Ernst

    (Georgetown University)

  • Jerry Haar

    (Florida International University)

Abstract

As discussed in previous chapters, the implementation of M2W strategy is fundamental for businesses to gain a broader competitiveness through the creation of social value. However, this process of social value creation must be executed correctly. Like any other business process, how it is implemented matters. Failure to implement the M2W strategy correctly may result in fewer business benefits and an undesired level of social impact. Businesses wishing to develop and implement a shared value strategy successfully must make sure that they have adequate measurement mechanisms in place as a way to gauge performance. They must also have the correct leadership team as they are the ones who instill and permeate the M2W culture within the organization and across other stakeholders. Finally, businesses must have the right communications strategy to effectively spread the message of the M2W strategy to a diverse range of stakeholders.

Suggested Citation

  • Ricardo Ernst & Jerry Haar, 2022. "Implementing M2W in the Firm," Springer Books, in: From Me to We, chapter 10, pages 169-191, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-87424-7_10
    DOI: 10.1007/978-3-030-87424-7_10
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