Business and society can and should function as a whole

Businesses can contribute meaningfully to the resolution of social issues through the creation of social value, while still generating financial returnsBusinesses and society have a symbiotic relationship; businesses are the engine creating prosperity in society — they originate economic activity, resulting in profits, resulting in employment, resulting in salaries, resulting in taxes. Taxes are then applied to supporting the needs of the country and its people.

The effects of unemployment are not limited to the poverty levels in a country, but, additionally, have far reaching consequences impacting other necessary building blocks of a robust society. As a nation, we are becoming more aware of key contributors to unemployment, to be more specific, unemployability, most of which stem from structural poverty.• The effects of limited access to early childhood education on the lifetime productivity of children who, as adults, need to independently earn an income and contribute to the economy.

• The resultant effect of all the above factors combined on the future levels of economic activity and global competitiveness, which impacts directly on the availability of employment opportunities.Understanding these challenges, what role can business play in this dilemma? Adrian Pierce Rogers said, “You cannot multiply wealth by dividing it.” This seems obvious, yet this is what we continue to try to do.

Instead of viewing company profitability and growth strategy separately to social and economic development — which is normally the case in a business with its CSI activities run separately — it is possible for a company to integrate the two and utilise the leverage to scale company growth and create social and economic value at the same time.There is a new generation of social, for-profit entrepreneurs capturing these opportunities faster than mainstream businesses.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: US and China’s top trade officials make first contact since truceUS Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke on the phone with their Chinese counterparts, marking the first high-level contact after their presidents agreed to resume trade talks last month.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: FIFA to pump millions into South Africa and kickstart amateur football economyA seismic change is about to take place in the funding of amateur soccer clubs by Fifa, and SA clubs need to make sure they are in a position to benefit. I believe they should start with pumping more money into female soccer development!!! Who is controlling the money? In my opinion keep it very far away from Danny Jordaan, also keep him far away from women.
Source: dailymaverick - 🏆 3. / 84 Read more »