For business to continue to succeed, it cannot wait for others to address the challenges of operating across so many international markets with so many idiosyncratic problems.
Multinationals must find ways to create and nurture the very markets they look to for their own growth. Unlike vague notions of good citizenship or Corporate Social Responsibility (CSR), Sustainable and Inclusive Business Activities (SIBA) harness the power of business to address contextual gaps and inefficiencies as a natural extension of core business and maintain long-term growth -- creating stronger communities and future customers in the process.
Yet, there are plenty of questions to be asked. Why are so many companies hesitant to engage in such practices? What remedies can a business turn to as it looks to overcome these challenges? How do multinationals take the step from CSR and philanthropy to investing in sustainable and inclusive business as an integral part of core strategy?
There are many barriers standing in the way of SIBA
at many multinational corporations, including:
- Absence of common vocabulary to engender common
conversation and collective buy-in
- Lack of a single motivation for businesses to engage
in these types of efforts
- No defined home for SIBA within existing organizational
- Pre-existing local constraints on the ground, such
as with infrastructure or suppliers
- Difficulties measuring and monetizing impact
Through research into these barriers and the incentives to SIBA, the Institute hopes to provide insight and leadership into how business can begin to move the needle when it comes to inclusive business.
Download our first report, researched and written alongside our partners, the Citi Foundation and the Monitor Institute, titled:
GROWTH FOR GOOD OR GOOD FOR GROWTH?:
How Sustainable and Inclusive Activities are Changing Business and Why Companies Aren’t Changing Enough