Inclusive Business

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Wikis > Inclusive Business

Definition

An Inclusive Business is a business model that strives to benefit the community by directly including low-income populations into their business cycles, whether as producers or consumers of the good or service. It is a strategy that aids a large and often forgotten section of the community through social initiatives while still fostering business growth and for-profit policies. A main driving force behind Inclusive Business models is to create sustainable means of support for the society without the use of welfare.

Areas of Incorporation

1. Employment: directly employing low-income people within the company

2. Product: targeting the company’s product or service directly to low-income communities

3. Supply chain: utilizing smaller and more local suppliers versus other big corporations