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Health business leaders discussed how their companies work to achieve health equity at a panel discussion Wednesday, arguing health equity is good for businesses and society. Their remarks came at ...
Reengineering guidance and relationship of mission and work processes to information technology. Business process re-engineering (BPR) is a comprehensive approach to redesigning and optimizing organizational processes to improve efficiency, effectiveness, and adaptability.
Porter and Kramer define shared value as "the policies and practices that enhance the competitiveness of a company while simultaneously advancing social and economic conditions in the communities in which it operates", [2]: 6 while a review published in 2021 defines the concept as "a strategic process through which corporations can turn social ...
Equity: Members' outcomes should be based upon their inputs. Therefore, an individual who has invested a large amount of input (e.g. time, money, energy) should receive more from the group than someone who has contributed very little.
This added social value opens up doors for cost-sharing with socially minded funding sources, such as international donors, individual philanthropists, nonprofit social investment funds and governments. Leverage the strengths of the poor. The poor are often an inclusive business model's most important partners.
Moreover, the social pillar is difficult to measure because it relies on social aspects that are empirically limited and quantifiable, e.g. it refers to notions such as well-being, and discrimination which needs a deep understanding with a detailed analysis. To conclude, assessing the real effects of the social pillar is very tough. [76]
According to Herrero de Egaña B., social innovation is defined as "new or novel ways that society has to deal with Relevant Social Challenges (RSCh), that are more effective, efficient and sustainable or that generate greater impact than the previous ones and that contribute to making it stronger and more articulated". [6]
A socially responsible business (SRB) is a generally for-profit venture that seeks to leverage business for a more just and sustainable world.The objective of the SRBs involves more than just maximizing profits for the shareholders; it is also about creating positive changes and making valuable contributions to the stakeholders such as the local community, customers, and staff. [1]