Inclusive business reimagined
October 16, 2019
October 16, 2019
Accenture's video shows the information, advice and tools to help multinational corporations make their inclusive business initiatives a success. See more.
View TranscriptOver four billion people earn less than $8 a day, representing the base of the global income pyramid. “Inclusive” business models reach these previously economically marginalized populations and get them jobs, business opportunities, and services they need. Many multinational companies are now making long-term bets to expand into new global markets by finding profitable new ways to serve these unmet needs.
For example, they’re using new technologies and business models to serve the one billion people who lack access to energy, the four billion who have yet to be connected to the internet, the 1.5 billion who still lack a mobile phone or the two billion who don’t have a bank account. From microinsurance to mobile education and health platforms, to affordable housing, new ways to produce food, vehicle sharing platforms and low-carbon transport, hundreds of new products and services are now being developed specifically for these four billion people.
In addition to making a massive social impact, it’s estimated these kinds of opportunities are worth over $6 trillion to businesses in the next decade.
In this in-depth research report, Accenture, in partnership with the UK Department for International Development (DFID), explores “what’s new now” on this increasingly critical Board-level topic.
We look at more than 300 examples of inclusive business, categorize them into 60 types of models and map them across 13 industries to create the first global market landscape of its kind for this exciting space.
Based on this analysis and in-depth interviews with over 30 business founders, innovation leads, investors and donors, our key findings are that inclusive business is now:
We refer to hundreds of examples within the full report, but the list below provides a flavor of these:
"For multinational companies, inclusive business presents a purposeful growth path—the opportunities in the next decade are worth over $6 trillion."
We see many under-appreciated opportunities emerging for business leaders here, but this isn’t just a simple story of innovation lifting people out of poverty.
Our report highlights the unintended consequences of innovation and growth. For example, economic growth can worsen the global climate crises. Innovative new business models can remove essential protections for workers. Rapid growth can compound inequality and inequitable distribution of resources. Technology can unleash unregulated digital harms. There is no guarantee that new lending practices will be responsible. But neither are these unintended consequences inevitable.
We call upon business leaders to infuse these new inclusive business models with a new ethos to avoid these negative consequences. Our report provides examples of how we are working on this with our own clients at our innovation centers to illustrate one possible approach for this, and we encourage others to build on this.
Asking the right questions early can lead, we believe, to many small decisions with big consequences that will ultimately lead to faster, more sustainable, and more responsible growth for everyone.
This report is part of a series commissioned by DFID called Inclusive Business Boost. We encourage readers to explore the additional reports and blogs on this topic via their website.
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