Good for All,
All for Good

The Economics of Mutuality Foundation organizes regional events, thought leadership, education, and research to advance the Economics of Mutuality operating model as a practical means of delivering stakeholder capitalism. We orchestrate cross-sector stakeholders to create profitable solutions for the problems of people, place, and planet.


A Better Way of Seeing and Doing Business

The Economics of Mutuality is a proven operating model that drives superior value creation through impact-led management practices. 

Powered by digital tools, it equips companies to generate enduring mutual value for the benefit of multiple stakeholders by addressing societal and environmental challenges.

Practical and scalable, the model enhances business performance by embedding purpose-driven strategies and metrics into day-to-day operations. 


From Idea to Impact

The Economics of Mutuality operating model emerged from a multi-year business innovation program developed by Mars that engaged a range of cross-sector partners including Oxford University’s Saïd Business School. The program delivered proof of concept practical application across business units, sectors, and markets along with teaching curricula and case studies.

The team behind the program spun out of Mars in 2020 to advance and implement the operating model more widely. Under the independent brand of the Economics of Mutuality Alliance, a partnership of two non-profits and two for-profits, they now collaborate with companies, investors, universities, and NGOs around the world to serve the common good.

Businesses can be a force for good, and it’s clear from the research that companies working to deliver purpose and profitability do better. The businesses that thrive and succeed long-term will be the ones that create prosperity that is more widely shared."

Stephen Badger
Economics of Mutuality Foundation Chairman

Two-time Board Chairman and current Board Member, Mars Incorporated.
Fourth-generation Mars family member

The Economics of Mutuality is more than just a good idea, it’s a totally new way of doing business. It exposes the serious shortcomings of ethical egoism and demonstrates the unquestioned benefits of virtuous capitalism."

Kenneth Barnes
Author of Redeeming Capitalism and former senior international executive

Sustainable profit always follows value creation – voluntary exchange based upon mutual benefit. Shallow business education has in recent decades seen business and social impact as fundamentally at odds."

Charles Tapp
Former Managing Director, Stand Together Trust


Thriving Business

An opportunity, not an obligation, the Economics of Mutuality hardwires mutuality into your day-to-day operations, leveraging the typically untapped value of Social, Human, and Natural capital.
Organizational alignment enables strategic transformation and innovation
Motivated colleagues enjoined to your purpose journey are more productive and loyal
Respected and trusted brands create preference and build intangible value
Efficiency savings, risk reduction and sustained growth enhances profitability
social and environmental
Healthier, flourishing communities and positive environmental impact ensure all thrive


Flourishing Society

You no longer have to choose between building a thriving business and contributing to a flourishing society. The Economics of Mutuality is an engine of transformation that equips you to do both without having to trade returns for impact. 

Creating value for your stakeholders and your shareholders doesn’t have to be mutually exclusive. It can be mutually beneficial.

Everyone wins when you address the problems of people, place, and planet… profitably.


For Good Societies

The Economics of Mutuality Foundation orchestrates transformation towards stakeholder capitalism by developing and disseminating well-evidenced knowledge, empowering passionate practitioners, and convening pivotal discussions. 

We use the Economics of Mutuality operating model as a basis for training, research, and knowledge exchange – advocating its principles, ensuring its governance, and evidencing its benefits. We disseminate the model widely through a network of affiliates and certified practitioners, partnering with leading academic institutions.

Our Stakeholders

We engage with and provide resources for people and organizations with an interest in purpose-driven business and stakeholder capitalism, from partners and affiliates to Economics of Mutuality practitioners. Additionally, we serve policymakers, non-profit professionals, academics, and students. 

Our Activities

  • Advocating and evolving the Economics of Mutuality operating model
  • Conducting and curating research related to mutual value creation
  • Providing a forum for co-designing solutions that address challenges
  • Engaging with values-aligned institutions, businesses, and organizations
  • Establishing affiliated Economics of Mutuality centers at leading universities
  • Acting as a knowledge partner in our areas of expertise


Thought Leadership

Putting Purpose into Practice: The Economics of Mutuality, published by Oxford University Press, explores how the Economics of Mutuality empowers business to thrive by meeting the needs of the world. The edited volume includes chapters written by practitioners and academics, as well as in-depth case studies that span a wide range of contexts.

Read online for free

Completing Capitalism: Heal Business to Heal the World, published in English by Berrett-Koehler and in Mandarin by CITIC Press, introduces the Economics of Mutuality’s underpinning philosophy, development, and first set of business cases. 

Learn more and purchase

Seven editions of the Oxford Economics of Mutuality Forum hosted in partnership with Oxford University’s Saïd Business School between 2015 and 2023 leveraged a unique blend of academic research, business application, and MBA insight to explore how we can accelerate the practical transition to a better form of capitalism.

Watch recordings

Let’s Discuss

If you’d like to explore how the Economics of Mutuality could drive transformation in your context, just reach out. We'd be delighted to start a conversation.

    The Economics of Mutuality will have profound influence on business practice, education and research over the coming decades."

    Colin Mayer CBE
    Former Dean and Professor, Oxford University’s Said Business School

    Existing economic paradigms have been found wanting. At this critical juncture, the Economics of Mutuality offers a radical yet practical roadmap for aligning financial returns with social and environmental impact. It's truly transformational."

    Reuben Coulter
    Former CEO, Transformational Business Network

    The idea of tracking the four types of capital — instead of just what everyone else seems to track: financial capital — and then to have rigorous, field-tested measurements that capture most of the value generated by the other three, is ingenious."

    David Gardner
    Co-Founder & Co-Chairman, The Motley Fool

    Our Organization

    Our Partner       Organizations

    A partnership of two non-profits and two for-profits,the Economics of Mutuality Alliance works across the world to advance stakeholder capitalism through the Economics of Mutuality operating model.
    For Good Societies
    Advancing the operating model through events, thought leadership, education, research, and cross-sector stakeholder orchestration.
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    For Good Companies
    Equipping companies to implement the operating model through digitally enabled consulting, proprietary tools, and leadership development.
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    For Good Investments
    Equipping investors to transform the way capital is deployed by implementing the operating model in public and private equity investments.
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    For Good Communities
    Nurturing individual vocation and seeking the thriving of communities as well as business and investment where the operating model is deployed.
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    Working Together for the Common Good


    Stephen Badger

    Chairman of the Board

    Two-time Board Chairman and current Board Member, Mars Incorporated.
    Fourth-generation Mars family member


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    Ann Florini

    Vice-Chairman of the Board

    Fellow, New America; Prof. of Practice, Thunderbird ASU; Former Prof., National University of Singapore, Singapore Management University; Former Senior Fellow, Brookings


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    Andy Pharoah

    Board Member

    Vice President, Corporate Affairs & Sustainability, Mars Incorporated.


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    Jay Jakub

    Executive Director


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    Economics of Mutuality Alliance

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