Summary of Michael Porter: Why business can be good at solving social problems

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00:00:00 - 00:15:00

Michael Porter discusses how businesses can play a role in solving social problems, but argues that the current model is not scalable. He believes that we need to change our perspective on businesses in order to make this possible, and that partnerships between businesses, NGOs, and government are key to success.

  • 00:00:00 According to the speaker, business can be a useful tool in addressing social problems, but the model for solving these issues is not scalable. There is not enough money to solve these problems using the current model, and the current approach of using NGOs and government is not effective.
  • 00:05:00 Michael Porter argues that businesses can be good at solving social problems by making a profit and meeting needs at a profit. This profit allows businesses to be scalable and self-sustaining in their efforts. He argues that this conventional wisdom has led to many businesses falling into bad behavior, such as resisting environmental improvement and workplace improvement.
  • 00:10:00 In the video, Michael Porter discusses the idea that businesses can profit from solving social problems, and how this has been changing over time. He points to examples of businesses that have done this successfully, including companies that have moved away from trans fat and saturated fat, avoided accidents, and trained employees in I.T. skills. He argues that this is a large opportunity for businesses, and that we need to change how we see businesses in order to make this possible.
  • 00:15:00 Michael Porter discusses how business can be a powerful force in solving social problems, but emphasizes the need for NGOs and government to work together in order to be most effective. He describes new NGOs that are succeeding in partnerships with businesses, and cites examples of governments that are making progress in enabling shared value between businesses and government. He believes that if young people can break down the divide between business and non-business actors, we can see real progress in solving social problems.

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