08 OCTOBER 2018
The contributions the private sector could cause the economic and social growth of a country are increasingly being recognized. These new roles have steadily progressed from being a product and a service provider, to a development partner and now as a potential driver for socio-economic development and ecological protection. A number of businesses are embracing practices and sustainability policies. Companies still aim to attain the normal continuous profitability and growths goals, but a lot are also looking to simultaneously create social and environmental advantages in the communities in which they operate. From necessity, but also as recognition of that the values and benefits of working with regional, local and international non-governmental organizations, several private sector groups have developed partnerships with various actors at various scales.
Partnerships with academic institutions are increasing both in developing and developed countries. There is an increasing body of evidence-based research which documents and assesses the impacts of companies in the economic, social and ecological environments. Sadly, many members of media groups and growth communities are ignoring all these investigations. They concerned that publishing facts that are optimistic may make them seem like the firms concerned's public relations agent. That's, it seems that being attentive to the contributions of an increasing number of multinationals to growth is one problem, but acknowledging and enjoying them is a completely different one. The question that should be asked is why many sectors of society and news agency and media are reluctant or afraid to accept this fact.
In contrary to what's frequently assumed by many, not everything firms are doing is necessarily self-centered, profit-oriented or negative. The Harvard University Business School, that the Sustainable Markets Intelligence Center in Costa Rica, Regional Center for Studies on Coffee and Industries in Colombia, Third World Centre for Water Management in Mexico, for instance, have studied the new business models of some important private sector groups on sustainable growth issues and the results they've achieved. There's now considerable evidence to show which there are lots of firms contributing to social progress through poverty reduction and increasing the standards of living of millions of individuals, as well as making profits.
The inclusion of more sustainability-oriented Company activities might very well be out of necessity due to increasing public and media scrutiny. However, firms are also responding to the Requirements from Boards and shareholders, who're signaling to that the market that the necessity and desirability to comply with stricter social and environmental requirements. Let us take the case of Nestl, the Biggest global multinational food, and beverage company that operates in 194 countries. The plans, programmes, investment, and resources that the company has put on that the implementation of sustainability aspects have resulted in tangible results in that the above areas for at least six decades in some areas of the world, especially India.
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