Why do we turn to nonprofits, NGOs and governments to solve society’s biggest problems? Michael Porter admits he’s biased, as a business school professor, but he wants you to hear his case for letting business try to solve massive problems like climate change and access to water. Why? Because when business solves a problem, it makes a profit — which lets that solution grow.
Please take about 16 minutes to listen to Dr. Porter and understand why our global business environment has changed and why business needs to modify it’s models to reflect that change.
Michael E. Porter wrote the books on modern competitive strategy for business. Now he is thinking deeply about the intersection between society and corporate interests. He argues that companies must begin to take the lead in reconceiving the intersection between society and corporate interests — and he suggests a framework, that of “shared value,” which involves creating economic value in a way that also creates value for society.