Submitted on Tue, June 26, 2012
Submitted by: John Converse Townsend on 06/26/12
The global community of hackers, innovators and entrepreneurs has for years worked to answer the question, how do we create a more constructive form of capitalism built to address the challenges in the 21st century?
We finally have a set of answers — one courtesy of Ashoka — thanks to the 2012 Global Long-Term Capitalism Challenge, co-sponsored by the Management Innovation Exchange (the MIX), Harvard Business Review and McKinsey & Company.
Ashoka’s Full Economic Citizenship (FEC), an initiative founded by Ashoka’s Leadership Group Member Valeria Budinich, was named one of 10 first-place winners in the competition at the MIX MASHUP, a day-long event convening more than 200 of the world's most respected corporate executives, management consultants, and leaders of organizations in the academic, philanthropic, and social entrepreneurship sectors.
Budinich's entry told the story of its Hybrid Value Chain (HVC) business model, an unprecedented framework that tears down the walls between the business and citizen sectors to increase collaboration, productivity and invention — in affordable housing, agriculture, health, water, finance, and nutrition security.
“Ashoka and the FEC team are honored to receive this award,” said Budinich. “We see across industries and geographies the benefits to citizens when the knowledge of consumers and producers is paired with the expertise of corporate leaders and innovators to create and deliver successful solutions with the potential to transform the world.”
The judges panel in the Long-Term Capitalism Challenge included Gary Hamel, founder of the MIX, Adi Ignatius, Editor of the Harvard Business Review and Allen Webb, Editor-in-Chief of the McKinsey Quarterly.
Capitalism is changing to produce both economic and social value. HVC's are one way to bring together the best of the business and social worlds to solve the large-scale problems neither could on their own.
“In a world defined by change, one must know how combine the previously divided actors into new, far more effective value-added chains,” said Bill Drayton, president of Ashoka and co-developer of the HVC framework. “It is also the necessary step towards the architecture an Everyone a Changemaker world requires. “
Also participating in these challenges, and present at the MASHUP were CEOs and top managers of multinational corporations such as NIKE, Chevron, P&G, Microsoft, Best Buy, Coca Cola, Google, Accenture, Cisco, Deutsche Bank, Deloitte, and Red Hat and Natura.