DISCOVER YOUR MUTUAL VALUe

Discover how your co-operative or mutual can benefit from applying the Mutual Value Framework©. Businesses that have used the framework have integrated it into a wide range of important activities, deploying it to:

Enhance strategic review

Choosing when to apply the Mutual Value Framework to a business is an important decision. Mutuals have increasingly chosen to implement the framework alongside or as an integral part of their planned strategic review.

This is a time-efficient way of testing existing plans and exploring any untapped areas of value that can be created through business operations. It is also a good time to ensure that the maximum value will be created across all business functions and that the strategy is focused on what members expect to receive.

Align Board and executive priorities

Businesses recognise the importance of achieving an alignment of understanding across all key stakeholders. Having a shared mission across the full complement of Board, executive leaders and colleagues is essential to creating a successful team approach. With changes in personnel, this can become more acute.

The mutual nalue exercise helps to build understanding and support for the clear strategy of the business. It helps people to see their role in delivering value and how they relate to other stakeholders in the business.

Build a communications narrative

Being able to communicate the value that is created through operating as a mutual can often be a challenge. So much of an organisation’s work and the related positive impact is taken for granted or overlooked.

The process of applying the Mutual Value Framework helps to make tangible the intangible behaviours and practices that create value for your members. By populating the six dimensions, mutuals can identify the value that they create in the whole range of areas. It is a discovery exercise that strengthens the common understanding of value and produces a powerful narrative that can be used internally and externally.

Improve performance management systems

Having identified the value that is created in the business by applying the Mutual Value methodology, firms can then look to prioritise these into concise statements that can be tested against performance. Ideally, mutual value will coincide with key performance indicators and these can be measured and tracked over time.

It is an important aspect of ensuring that what is being measured and managed coincides with the expectations of members and the mutual business purpose of the organisation.

Align employees within the business

Firms will want to ensure that new employees are able to learn from the deeper experience of long-standing staff. The Mutual Value Framework helps this knowledge transfer by identifying the value created in each part of the mutual and enabling the information to be shared.

The process can be a bonding experience with colleagues, ensuring that all functions are recognised and understood across the business, aligning the team to a common purpose.

Improve member relationships

Member relationships and member recruitment are enhanced by a clear member proposition that is tested with the target audience.

Over time, mutuals can drift from their core member offer and find it more difficult to articulate the value that they deliver to members. Applying the Mutual Value Framework can help to distil a better understanding of member expectations and help firms to communicate this.

Firms have reported improved member recruitment and dialogue as a result of clarified messaging to members.

Improve marketing messaging

Applying the Mutual Value Framework helps to identify and confirm the intrinsic value that your business creates. This is key to building trust and confidence with existing members, and to marketing services to potential members.

Subtle changes to marketing messaging that accentuate the positive value and the mutual differentiation that you bring to your industry can greatly improve customers’ understanding of your business.

Enhance ESG and corporate reporting

As businesses seek to establish their sustainability credentials, many have sought to describe the social value that they create.

The Mutual Value Framework helps to build an evidence base that clearly describes the full range of value that your firm creates for society and the economy. It means that you have robust facts that will help to populate your external reporting.

This can be used in a range of corporate reports, from improved annual reporting to special impact reports.

Mutual Value Measurement's common language

Matt Rutter, former CEO of Geraldton Fishermen’s Co-op, on MVM's common language.

“Mutual Value Measurement is a tool to measure all that other stuff that doesn’t fit in to the traditional model of KPIs. As a pool, we are so focused on our members and delivering them good value that we do so many other things. I love that the framework is a tool to help us capture that. MVM helped start a corporate data project but led us in to examining new areas of risk management - it got in to lots of other places with this fundamental framework sitting below it. As time has gone by the MVM process has become completely ingrained in the business.”

Lisa Williams

Chief Financial Officer, Civic Risk Mutual

“At Unimutual, we used the MVM process to identify the mutual value that we are creating for our members. The leadership team had the opportunity to sit down and identify what our member’s value. The six dimensions gave us a structure to look at how that value is created. Working with Mutuo, we’ve embodied MVM as part of our strategic performance framework and identified the key measures that we want to consider on an ongoing basis.”

Geoff Henderson

Chief Executive Officer, Unimutual
COPYRIGHT - MUTUAL VALUE MEASUREMENT

The Mutual Value Measurement (MVM) Framework© and related material was developed by the Business Council of Co-operatives and Mutuals in partnership with Monash University’s Monash Business School. All intellectual property and rights are vested with the BCCM and Monash Business School and any use of this material should only be done with the express authorisation of the BCCM and Monash Business School. BCCM members granted access to MVM materials are required to obtain approval from BCCM and Monash Business School, Monash University if they wish to share any MVM material with third parties.

The MVM Framework© and related material are protected by copyright. The copyright owner is the Business Council of Co-operatives and Mutuals (BCCM) and Monash University’s Monash Business School.

All frameworks, tools, text, copy, photographs and graphics are copyright © 2019 to the Business Council of Co-operatives and Mutuals (BCCM) 2019 and Monash University’s Monash Business School, unless otherwise stated. You may not make alterations or additions to the material on this site, sell it, or misappropriate it. The BCCM and Monash University’s Monash Business School, do not permit reproduction without request and acknowledgment.

COPYRIGHT - MUTUAL VALUE MEASUREMENT WEBSITE

Material on this site is protected by copyright. The copyright owner is the Business Council of Co-operatives and Mutuals (BCCM) in partnership with Monash University’s Monash Business School. All frameworks, tools, text, copy, photographs and graphics are copyright © 2019 to the Business Council of Co-operatives and Mutuals (BCCM) and Monash University’s Monash Business School, unless otherwise stated. You may not make alterations or additions to the material on this site, sell it, or misappropriate it. The BCCM and Monash University’s Monash Business School, do not permit reproduction without request and acknowledgment.