ABSTRACT
This chapter aims to introduce Five M Model for small and medium-sized enterprise (SME) Transparency™, explains the options, challenges and different approaches along the way and provides some examples of good SME approaches and best practice. The advantages that SMEs inherently enjoy make this process rather more straightforward, although still requiring leadership, discipline, application and a willingness to display transparency. The social mission of the business refers to the contribution a company makes to society in addition to the fact that it makes money. The new Wal-Mart promise is about a social mission of helping people to improve their lives, not just bolster their bank account. In conversations with customers, suppliers, local community partners, SMEs should raise questions in relation to their social mission and the value that stakeholders gain. SMEs, however, have fewer resources available and opportunities to engage with stakeholders may be less obvious.
