Friday, September 25, 2009

The Resposibility Revolution and Social Entrepreneurs

Cadbury is investing nearly $75 million in Ghana to boost cacao farmers' incomes and fund schools. Starbucks is slowly progressing to procuring all its coffee ethically sourced and since October 2007, its employees have completed over 400,000 hours of community service. Walmart has asked it's top suppliers in the U.S. to share details about their carbon footprint, resource use and ethical business practices. Acumen fund is providing patient capital and identifying entrepreneurs in developing countries.
Gap, GE, Procter & Gamble, PepsiCo and many others are ratcheting up their responsibility commitments. Corporate social responsibility can also lead to good brand recognition and most of the people are ready to pay a premium to buy the products if they know about it.

We have companies like PeaceWorks and World of Good which work on a 'not only for profit' model.We have unique concepts like Better World Books and D.Light making a big social impact.

The Global Impact Investing Network is a not-for-profit organization dedicated to increasing the effectiveness of impact investing. Impact investments aim to solve social or environmental challenges while generating financial profit. "Social entrepreneurs see a problem that they feel compelled to resolve, show the world a solution, and start implementing it." ~INSEAD Assistant Professor for Entrepreneurship, Filipe Santos.

Today, we realize as global citizens to care for people and the planet. And, yes, this is just the beginning. There are so many ways within your own community that you can get involved and be engaged.

Listen to this video about the debate over foreign aid often pits those who mistrust "charity" against those who mistrust reliance on the markets. Jacqueline Novogratz proposes a middle way she calls patient capital, with promising examples of entrepreneurial innovation driving social change.

And if you have read so far you shall enjoy reading the exclusive interview in TIME with The Obamas on "The Meaning of Public Service".

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