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The Quintet of M2W

In: From Me to We

Author

Listed:
  • Ricardo Ernst

    (Georgetown University)

  • Jerry Haar

    (Florida International University)

Abstract

Proponents of shared value have focused on three ways of achieving economic and societal value—reconceiving products and markets, redefining productivity in the value chain, and building supportive industry clusters; the other equally important features must be added to the mix: ownership and accountability. These two features embody a more comprehensive meaning of competitiveness and enhanced governability (in the form of accountability) as indispensable characteristics of a sustainable and responsible shared approach for all stakeholders, the M2W principle. This understanding is extremely important as we investigate and critique the differences between shareholders and stakeholders. The chapter highlights Nestlé and Coca-Cola to illustrate the “upgraded” shared value concept. Coca-Cola understands the power of M2W and is clear on why shared value is a priority for the company. It believes that their business is only as sustainable as the communities in which it operates, and the M2W principle is a powerful tool to generate economic and social impact across communities and across business which is at the core of their mission.

Suggested Citation

  • Ricardo Ernst & Jerry Haar, 2022. "The Quintet of M2W," Springer Books, in: From Me to We, chapter 2, pages 23-40, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-87424-7_2
    DOI: 10.1007/978-3-030-87424-7_2
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