Abstract
The pursuit of shared value relies on the individual as the common element between business and society to reconcile these two institutions’ often competing goals. Brands are composed of people, so they must align their values with those of society, define their purpose as citizens, and shape the behaviour of their people to suit. As a subcategory of brands, luxury brands are not just citizens but leaders, which gives them the ability to raise their stature by influencing the wider community.
Excerpted from Pinkhasov, M. and Joshi Nair, R., Real Luxury: How Luxury Brands Can Create Value for the Long Term, 2014, Palgrave Macmillan. Reproduced with permission of Palgrave Macmillan.
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Pinkhasov, M., Joshi Nair, R. (2017). Creating a Culture of Shared Value Through Luxury Branding. In: Gardetti, M. (eds) Sustainable Management of Luxury. Environmental Footprints and Eco-design of Products and Processes. Springer, Singapore. https://doi.org/10.1007/978-981-10-2917-2_3
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