Putting Purpose Into Practice: The Economics of Mutuality

by Colin Mayer (Editor), Bruno Roche (Editor)

Overview

In the face of constant change, the nature of business must evolve rapidly if it is to remain relevant to society at large. How then should business change to meet the requirements of the 21st century, in which unbridled globalization and technological advancements are having profound affects on the wellbeing and prosperity of both the people and the planet? The achievement of purpose is the key to successful transformation - not just having a purpose, but making that purpose real at every level of the organization. This is the first book to provide a precise description of how companies can put purpose into practice. Based on a groundbreaking research project undertaken jointly between the Sa'd Business School at the University of Oxford and Mars Catalyst, the think tank of Mars Inc., it provides a highly accessible account of how companies should determine and implement their corporate purposes. It outlines why corporate purpose is so important and how it can both address the major challenges the world faces today and deliver enhanced performance for business. Fourteen detailed case studies illustrate how companies of different sizes, sectors, and geographies have put purpose into practice and their experiences of doing so. These cases give deep insights into the way in which companies can build purposeful businesses, map and shape their ecosystems, identify failures and problems, align management, and create partnerships to deliver their purposes against which they can measure their performance. The achievement of purpose is a very real issue that every responsible leader in business, finance, and business academia must now face. This book will equip executives, managers, investors, and policymakers with the tools that they require to understand how the notion of corporate purpose should become a corporate reality.

Product Details

ISBN-13:	9780192643704
Publisher:	OUP Oxford
Publication date:	03/02/2021
Sold by:	Barnes & Noble
Format:	eBook
Pages:	336
File size:	1 MB

About the Author

Colin Mayer is the Peter Moores Professor of Management Studies at the Sa'd Business School, University of Oxford. He is a Professorial Fellow of Wadham College, Oxford and an Honorary Fellow of Oriel College and St Anne's College, Oxford. He is a Fellow of the British Academy and the European Corporate Governance Institute. He is a member of the UK Government Natural Capital Committee and the Board of Trustees of the Oxford Playhouse. He was appointed Commander of the Order of the British Empire (CBE) in the 2017 New Year Honours for services to business education and the administration of justice in the economic sphere. Bruno Roche is the founder and leader of the Economics of Mutuality initiative, a new school of thought and disruptive model for economic performance. He is the former Chief Economist of Mars, Incorporated and Managing Director of the Mars internal think tank 'Catalyst,' which has been the laboratory for developing, testing, and incubating the Economics of Mutuality since late-2006. He co-created the Economics of Mutuality Laboratory at the Sa'd Business School, University of Oxford in 2014 and at the China-Europe International Business School (CEIBS) in 2019. In 2020, with the support of Mars, Incorporated, he co-founded the Economics of Mutuality Foundation, a public interest not-for-profit with the purpose to share and further develop the Economics of Mutuality with like-purposed organizations (in business, finance, and management schools).

Table of Contents

Part I1. Introduction, Colin Mayer and Bruno Roche2. Overview, Colin Mayer and Bruno RochePart II3. Bread And Honey: Social Flourishing, Mutuality, and Economics, Martyn Percy4. Roots of the Economics Of Mutuality, Jay Jakub5. The Meaning of Mutuality, Catherine Dolan, Bojan Angelov, and Paul Gilbert6. Mutuality and Concepts of Responsible Business, Alastair Colin-Jones and Sudhir Rama Murthy7. Purposeful Ecosystem Orchestration, Sylvain Remy, Julie Kolokotsa, Jan Ondrus, Yassine El Ouarzazi, and Nicolas Glady8. Ecosystem Orchestration in Practice, Yassine El Ouarzazi9. Creating Cross-Sector Partnerships, Sudhir Rama Murthy and Alastair Colin-Jones10. Measuring Non-Financial Forms of Capital, Francesco Cordaro, Alain Desdoigts, Justus von Geibler, and Claudia Senik11. Building Social Capital, Marcel Fafchamps12. Wellbeing at Work as Human Capital, Claudia Senik13. Accounting for Natural Capital, Richard Barker14. Implementing a Mutual Profit-And-Loss, Robert Eccles and François Laurent15. The Impact of Mutual Profit on Business Behaviour, Robert Eccles and Judith Stroehle16. Mutuality and The Potential of Microequity, Muhammad Meki, Kate Roll, and Simon Quinn17. The Impact of Mutuality on Ownership, Jonathan Michie18. The Influence of Large Investment Funds, Helen Campbell Pickford19. The Impact of NGO Activism, Andreas G. F. Hoepner and Qian LiPart III20. Bel Group: Harnessing the Power of an Informal Distribution Network, Alastair Colin-Jones, Alexandra Berreby, Caroline Sorlin, Hannah Radvan, and Justine Esta Ellis21. Marks and Spencer: A Food Sustainability Scorecard for Suppliers, Sudhir Rama Murthy, Mike Barry, and Justine Esta Ellis22. Sabka Dentist: Taking Accessible Dental Care to Scale, Yassine El Ouarzazi, Lionel Khalil, Aida Hadzic, Kate Roll, Judith Stroehle, and Vikram Vora23. Timberland and the Smallholder Farmers Alliance: Creating a Data-Driven Smallholder Cotton Supply Chain in Haiti, Hugh Locke, Atlanta McIlwraith, Lionel Khalil, and Kate Roll24. Dell: The Business Case for a Sustainable Supply Chain, Louise Koch, Stephen Roberts, and Justine Esta Ellis25. Interface Inc.: Turning an Environmental Problem Into a Business Opportunity, John Khoo, Miriam Turner, and Justine Esta Ellis26. Solvay Chemical: A Tool For Identifying And Planning Sustainable Business Strategies, Justine Esta Ellis, Alastair Colin-Jones, Jean-Marie Solvay, and Michel Washer27. Z Zurich Foundation: Building the Case for Effective Insurance in Flood Prone Areas, Helen Campbell Pickford, David Nash, and Justine Esta Ellis28. Divine Chocolate: Creating Sustainable Value in the Cocoa Sector Through Mutual Ownership, Justine Esta Ellis, Alastair Colin-Jones, and Jamie Hartzell29. Mondragon: Maintaining Resilience Through Cooperative Strategies, Justine Esta Ellis, Alastair Colin-Jones, and Ibon Zugasti30. JD.com: Using E-Commerce to Alleviate Rural Poverty in China, Lydia J. Price, Liu Xiaowen, and Ni Jing Hua31. Kate Spade New York: Integrating Social Purpose Into Core Business Operations, Taryn Bird, Aida Hadzic, Kate Roll, and Judith Stroehle32. Mahindra Firstchoice: Orchestrating the Used Cars Ecosystem, Ben Jackson and Genevieve Joy33. Novo Nordisk: An Ecosystem Approach to Preventing Diabetes, Ben Jackson and Yassine El OuarzaziPart IV34. Conclusion, Colin Mayer and Bruno Roche