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M2W and Competitiveness

In: From Me to We

Author

Listed:
  • Ricardo Ernst

    (Georgetown University)

  • Jerry Haar

    (Florida International University)

Abstract

The relationship between shared value and competitiveness is often overlooked; yet shared value can play a vital role in a firm’s ability to compete effectively by enlarging its ecosystem and considering all members of the supply chain. Shared value increases the size of the pie for everyone involved by creating synergies, and by taking a more socially conscious approach to business, firms can ultimately increase their economic profit and their competitiveness. Shared value and shared responsibility (through M2W) open up firms to a new way of thinking about the business they are in and answering questions like what do we do, what do we produce, who is our customer, what do we sell, and how do we operate, under a new lens. By using this approach firms ultimately increase their value, as opposed to sacrificing value.

Suggested Citation

  • Ricardo Ernst & Jerry Haar, 2022. "M2W and Competitiveness," Springer Books, in: From Me to We, chapter 5, pages 79-95, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-87424-7_5
    DOI: 10.1007/978-3-030-87424-7_5
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