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An inclusive business model is a type of business model that seeks to create value for low-income communities by integrating them into a company's value chain on the demand side as clients and consumers, and/or on the supply side as producers, entrepreneurs or employees in a sustainable way.
One 2020 estimate placed the size of the global diversity and inclusion market at $7.5 billion, of which $3.4 billion was in the United States, projecting it to reach $17.2 billion by 2027. [39] In 2021, Joe Biden signed several executive orders concerning DEI, including Executive Order 13985 and Executive Order 14035. [35]
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]
Diversity, in a business context, is hiring and promoting employees from a variety of different backgrounds and identities.Those characteristics may include various legally protected groups, such as people of different religions or races, or backgrounds that are not legally protected, such as people from different social classes or educational levels.
Inclusive entrepreneurship can be applied to self-employment, starting or growing micro or small enterprises and to social enterprise using business based approaches driven by social mission. Indeed, the personal qualities required for entrepreneurship are essential for success in the knowledge economy – whether this be in the private or ...
Inclusive business models can be found in a wide variety of companies, while shared value literature has so tended to be focused on MNCs, and as noted in relation to Hindustan Unilever, a number of business models could be described as consistent with shared value and inclusive business.
Inclusive management practices are one way to enact public participation and civic engagement, which may be implemented in a variety of ways. Inclusive management practices are not the same as citizen participation or as inclusion as the latter term is typically used in democratic theory to denote the involvement of ethnically or ...
Members of the Coalition expressed a belief that all stakeholders, including business and society, should be engaged in the enactment of an inclusive capitalism agenda [1] [11] In 2019, the Embankment Project for Inclusive Capitalism (EPIC) undertaken by the Coalition together with Ernst & Young reported its findings in a white paper. It was a ...