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Financial inclusion is the availability and equality of opportunities to access financial services. [1] It refers to processes by which individuals and businesses can access appropriate, affordable, and timely financial products and services—which include banking, loan, equity, and insurance products.
Diversity themes gained momentum in the mid-1980s. At a time when President Ronald Reagan discussed dismantling equality and affirmative action laws in the 1980s, equality and affirmative action professionals employed by American firms along with equality consultants, engaged in establishing the argument that a diverse workforce should be seen as a competitive advantage rather than just as a ...
Sustainable economic growth requires inclusive growth. Maintaining this is sometimes difficult because economic growth may give rise to negative externalities, such as a rise in corruption, which is a major problem in developing countries.
We all know that we live in a diverse world, that is naturally a given; we are all different.
Economic diversity or economic diversification refers to variations in the economic status or the use of a broad range of economic activities in a region or country. [1] Diversification is used as a strategy to encourage positive economic growth and development. [ 2 ]
Social inclusion is the converse of social exclusion. As the World Bank states, social inclusion is the process of improving the ability, opportunity, and worthiness of people, disadvantaged on the basis of their identity, to take part in society. [51]
Economic mobility is the ability of an individual, family or some other group to improve (or lower) their economic status—usually measured in income. Economic mobility is often measured by movement between income quintiles. Economic mobility may be considered a type of social mobility, which is often measured in change in income.
An inclusive business is a self-sustainable business entity that productively integrates low-income populations into its value chain. [1] By prioritizing value creation over value capture and adopting principles of non-discrimination, inclusive businesses create new economic opportunities for low-income populations but do not necessarily pursue profit maximization objectives. [2]