Business Models for Inclusiveness

Businesses have traditionally contributed to inclusive growth primarily through philanthropy or CSR. However, these initiatives have a modest societal impact when compared to the impact of core business operations on society. So businesses now have to integrate the social responsibility in their core business operations. Business should address inclusiveness and sustainability in their business strategy and not just as an afterthought. Many companies are now adopting such new business models that can deliver affordable products and services to those living in the middle and bottom of the pyramid. This paper looks into examples of how inclusivity can be made an important aspect of business strategy. This paper will look into how select organisations are running successfully and also addressing the larger societal needs through creative solutions to issues like healthcare, livelihood security, poverty etc which are very characteristic of the developing economies.