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Business is changing for good

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This article was published in the 4-September-2014 issue of Finweek Magazine

Business is changing for good. The days of companies existing only to make money are dying. You don’t have to look far to see the devastating impact that unchecked greed and lust for profit has had on our planet and our lives. From global warming to the financial crisis, it’s everywhere. And so today’s generation are growing up with a conscience, far more aware than their predecessors that they need to look after what we have, to preserve it for their children and their children’s children. Call it conscious capitalism, social good or conscious business. Today’s social entrepreneurs maximise value for all the stakeholders in a business – not only for the shareholders, but also for the bigger community, the employees, suppliers, partners and the environment. Although non-profits and charities have a vital role to play, these 21st century entrepreneurs want to use for-profit business to change the world for the better. Running a profitable, sustainable company and doing good don’t have to fight against each other in business. With conscious capitalism, a profitable business has a purpose far higher than maximizing profits and shareholder value. Continue reading

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Can social entrepreneurs make money and do good at the same time?

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This article was published in the 29-May-2014 issue of Finweek Magazine

When you hear the words “social entrepreneur”, what image comes to mind? For many of us, it’s the founder of a non-profit organisation (NPO) trying to do good but each month battling to raise enough money to cover their costs, relying on volunteers and unable to pay anyone a salary, including themselves. These untenable organisations hang on precariously from month to month. However, social entrepreneurship doesn’t have to be unprofitable or unsustainable. Author Thomas L. Friedman summed it up brilliantly when he said that social entrepreneurs should  “combine a business school brain with a social worker’s heart.” We unpack some of the misconceptions in this space and speak to two inspiring social entrepreneurs who are running impactful businesses sustainably. Continue reading