In today's world, corporations must do more than provide customers with a quality product or service. In the past five years, companies have been held accountable for their social and environmental impacts as well. In order to improve these impacts, it is necessary for corporations and businesses to partner with non-profit organizations and social enterprises.
Corporations should work with social enterprises because they can share resources to help each other meet common goals and missions. It is often difficult for businesses to accomplish everything on their own; therefore, by partnering up with other entities that support the same mission as them, they are able to complete tasks faster and more efficiently. On the other hand, social enterprises may struggle with gaining access to resources necessary for developing their organization or expanding their services. Companies can work together with these non-profit organizations and assist them in meeting their goals while simultaneously accomplishing the company's mission on a larger scale. By working together, the public will be positively impacted through these efforts.
This is just one-way corporations can benefit by partnering with social enterprises. For example, when PepsiCo partnered up with Grameen Danone Foods, they helped bring more than thousands of jobs to people in low-income communities all over the world. The partnership allowed them to share information about what each side does best, which allowed both companies to pool their resources in order to expand business globally. Another good example comes from a large furniture company that partnered up with Eileen Fisher since the non-profit organization's mission aligns with the company's goal of providing environmentally friendly products.
Having this partnership will allow Eileen Fisher to further their efforts in creating a cleaner environment for people around the world while still being able to sell its products at high quality and affordable prices. In turn, the furniture retailer can use their sway in the marketplace to help promote environmental sustainability by ensuring other companies embrace sustainable practices. By working together, both parties can significantly improve upon each other's efforts while helping create a more sustainable future.
Corporations should work with social enterprises because they share many common goals and missions that directly correlate with each other. They can also benefit by sharing resources to accomplish larger goals more quickly and efficiently while simultaneously allowing the public to benefit from their actions.
So, what do you think? Do you understand more clearly the reasons for Companies Partnering with Social Enterprises?
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