Have you heard of the Davos Manifesto? Every year the World Economic Forum (WEF) is held at Davos. The purpose of its annual meeting is to bring the world’s most powerful decision-makers including industrialists, scientists, academicians and even politicians together on a regular basis to discuss the pressing problems of the day and consider how best to address them.
One of the principles of Davos Manifesto is “The purpose of professional management is to serve clients, shareholders, workers and employees, as well as societies, and to harmonize the different interests of the stakeholders”.
“The long-term existence (of a firm) cannot be ensured without sufficient profitability. Thus, profitability is the necessary means to enable the management to serve its clients, shareholders, employees and society.” And this is actually what is known as ‘stake-holder capitalism’.
What does the Davos Manifesto – 2020 say? (2021 was the year of Covid)
“The purpose of a company is to engage all its stakeholders in shared and sustained value creation. In creating such value, a company serves not only its shareholders but all its stakeholders – employees, customers, suppliers, local communities, and society at large. The best way to understand and harmonize the divergent interests of all stakeholders is through a shared commitment to policies and decisions that strengthen the long-term prosperity of a company.”
Why do we need the ‘Davos Manifesto’ asks the website WEF? It’s for a better kind of capitalism – the ‘stakeholder capitalism’ against ‘share-holder capitalism’ as practiced in the USA and ‘state-capitalism’ as practiced in China.
And this forms the basis of the SPICE Model in H2H Marketing; leading to Firms of Endearment. Firms of Endearment are more profitable says ‘Philip Kotler’. Everyone is happy and everyone contributes more with passion!
- Society at large
Using the H2H Mindset, let is adopt the Principles of H2H Marketing, ‘Stake-holder Capitalism’, and make your organization the highly profitable ‘Firm of Endearment’.
#H2H #H2hMindset #H2Hmarketing