The objective of the forum videoed below was explore how the adoption of mutuality principles and the Economics of Mutuality approach to value creation can contribute to the both society and the commercial success of firms. The notion that business has a significant role in addressing human and social problems has led to a re-evaluation of the purpose of business.
Putting mutuality – the interests of others – ahead of profit maximisation can generate more value for both stakeholders and the company than traditional profit maximisation. The best businesses do good through the co-creation of commercial and social benefits. There may be lessons here for Twitter.
Economics of Mutuality in the Innovation Economy
Moderator:
Patricia Falco Beccalli, Founder and CEO, Principle AG
Speakers:
Rachel Botsman, Author of Who Can You Trust?: How Technology Brought Us Together and Why It Might Drive Us Apart
Jean-Christophe Flatin, President, Mars Global Chocolate, Author of Self-Managed Networks, Systems, and Services
John Palfreyman, Director, IBM Blockchain, Author of Blockchain Unleashed
We are entering a new economic world. The traditional vertical economy is being challenged by the horizontal collaborative economy. This emerging economy, expressed through platforms of all kinds, is built on the foundation of trust, a concept central to the economics of mutuality. How can we accelerate opportunities for the economics of mutuality?
Investments and Economics of Mutuality
Speakers:
Bertrand Badré, Founder and CEO, BlueOrange Capital
Michael Bontrager, CEO, Chatham Financial
Gabriel Schulze, Founder and Executive Chairman, Schulze Global Investments
We know that financial institutions have been historically preoccupied with short-term earnings. Can investor perspectives shift to be refocused on long-term, broader goals than financial performance? Can investors of different kinds take into account notions of human, social and environmental capital as key decision points for investment? Could economics of mutuality concepts add value for investors?
Impact of Economics of Mutuality on Corporate Governance and Values
Speakers:
Avishay Braverman, Economist and former Politician
Jürgen Kluge, Chairman of the Board, Foundatio Lindau Nobel Laureate Meetings and Member of the Council Lindau Nobel Laureate Meetings
Clara Miller, President, Heron Foundation
Lynn S. Paine, John G. McLean, Professor of Business Administration, Harvard Business School
Xiang Bing, Founding Dean and Professor of China Business and Globalisation, CKGSB
Economics of mutuality is not only an approach to how value and profit are measured. It is a holistic vision of the governance of organisations of all kinds. How should we approach corporate governance and design organisational values in a way that assists them with achieving their goals of mutuality?
Clara Miller says Heron Foundation eliminated the line between investing and funding, so that both are done holistically. Moral wrong behavior of one person or small group is reason for most companies failing, says Jürgen Kluge. Integrity is the key variable. Lynn S. Paine rejects TSR in favor of a more holistic approach. Inequality is huge problem, according to Xiang Bing. Entrepreneurs are taking 70% of the profits and leaving little to employees and shareholders.
Concluding Remarks, Oxford MBA Students
Oxford MBAs Nabilah Soobedaar & Nikhita Nadkarni sum up their impressions of the conference.
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