Sankar Sen

C. B. Bhattacharya

Daniel Korschun

This book shows how companies can maximize the value of their CR initiatives by fostering strong stakeholder relationships.

The Stakeholder Route to Maximizing Business and Social Value

Leveraging Corporate Responsibility

Grant Welker

On June 23, 2014, the long-time CEO of a popular New England supermarket chain was ousted by his board of directors, led by his cousin. What transpired over the next two months is an inspiring tale of epic loyalty to a man who had impacted his community far beyond that of providing groceries.In We Are Market Basket, readers will learn more than simply the story of the strike heard round the world. How did a single CEO garner so much respect from his company’s managers and rank-and-file workers that they walked out of the stores and protested? How did the ousting of an executive result in customers leaving the stores and joining protest rallies? Politicians were forced to take sides, and media were left stunned at the unprecedented and united show of support for this lone businessman. What was so special about this CEO and how he ran his business that provoked such ferocious loyalty? How does a company spread across three states maintain a culture that embraces everyone--from cashier to customer--as family? Can a company really become an industry leader by prioritizing stakeholders over shareholders? With its arresting firsthand accounts from the streets and executive suites, We Are Market Basket is as inspiring as it is instructive as it chronicles the epic rise, fall, and redemption of an iconic and uniquely American company.

The Story of the Unlikely Grassroots Movement That Saved a Beloved Business

We Are Market Basket

The corporate social and environmental responsibility movement, known more generally as corporate responsibility (CR), shows little sign of waning. Almost all large corporations now run some form of corporate responsibility program. Despite this widespread belief that CR can simultaneously improve societal welfare and corporate performance, most companies are largely in the dark when it comes to understanding how their stakeholders think and feel about these programs. This book argues that all companies must understand how and why stakeholders react to such information about companies and their actions. It examines the two most important stakeholder groups to companies - consumers and employees - to comprehend why, when and how they react to CR. Armed with this insight, it shows how companies can maximize the value of their CR initiatives by fostering strong stakeholder relationships to develop, implement and evaluate compelling social responsibility programs that generate value for both the company and its stakeholders.

Daniel Korschun

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