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Innovation Exchange is an open innovation vendor which emphasizes community diversity; it sources solutions to business problems from both experts and novices. Companies sponsor challenges which are responded to by individuals, people working in ad hoc teams, or by small and mid-size businesses.
Many companies and organizations provide business opportunities and services to the poor by introducing scaled-down business concepts found in successful franchise organizations. Although it is sometimes seen as a new development in the social enterprise sector [ 3 ] that follows in the footsteps of microfinance and microcredit , a form of ...
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.
Alternatively, challenge funds are often used as ways to address what development partners describe as a Grand Challenge, which is a challenge fund focused on soliciting proposals around a very specific critical barrier that, if removed, would help solve an important health problem in the developing world, with a high likelihood of global ...
Economic development has existed even at a basic level since the earliest recorded communities. However, in the US and several other countries, the concept of community economic development emerged "in response to tenacious poverty and the need for affordable housing, good jobs, affordable health care and quality of life matters needed for human existence."
Using wiki models or crowdsourcing approaches, for example, a social entrepreneur organization can get hundreds of people from across a country (or from multiple countries) to collaborate on joint online projects (e.g., developing a business plan or a marketing strategy for a social entrepreneurship venture).
For example, the provision of low-cost cell phones developed new market opportunities as well as new services for people living in poverty. Redefine productivity in the value chain to mitigate risks and boost productivity. For example, in reducing excess packing in product distribution reducing cost and environmental degradation.
Community Owned Business This article by the American Independent Business Alliance explains the distinctions between community-owned and cooperative businesses and indexes many examples of community-owned enterprises in different business sectors. "Love a Local Business? Advise it to be careful about selling shares!" blog post by Katovich Law ...