An inclusive business is a sustainable business that benefits low-income communities. It is a business initiative that, keeping its for-profit nature, contributes to poverty reduction through the inclusion of low income communities in its value chain. In simple words inclusive business is all about including the poor in the business process be it as producers or consumers.
Inclusive businesses find profitable ways to engage the low-income segment into their business operations in a way that benefits the low-income communities and creates sustainable livelihoods. This can include directly employing low-income people, targeting development of suppliers and service providers from low-income communities and providing affordable goods and services targeted at low-income communities. Professor Ted London at the William Davidson Institute and Ross School of Business (University of Michigan) is a leading expert within the realm of inclusive business, specifically within the international emerging markets realm, and focuses his research and teaching on business strategies, tools and frameworks that can be used when engaging in business initiatives at the Base of the Pyramid.
Video Inclusive business
See also
- Workplace diversity
- World Business Council for Sustainable Development
- Inclusiveness
- Social entrepreneurship
- Triple bottom line
Maps Inclusive business
References
External links
- IFC Inclusive Business International Finance Corporation (IFC, part of World Bank Group)
- Growing Inclusive Markets, UNDP-led inclusive business initiative with case studies database
- Donor Committee for Enterprise Development (DCED) overview on inclusive business models debate
- The Practitioner Hub for Inclusive Business for tools, resources and insight into inclusive business
Source of the article : Wikipedia
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