Name: The case for letting business solve social problems
Uploaded: 2013-10-07T15:05:04Z
Duration: 16 min 14 s
Description: 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.

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.

The case for letting business solve social problems

Business holds the key to solving social challenges that have outpaced the resources of governments and nonprofits. Solutions led by NGOs often struggle to grow, but when businesses profit from meeting social needs, their impact can expand rapidly. Real-world examples include companies reducing pollution while boosting efficiency and training millions in vital skills. Harnessing profit for shared value means social progress and economic success can move forward together.