Champions for Global Change ‘Global Poverty Reduction Initiative’

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Ref No: 2593

Introduction

Basic necessities include food, water, clothing, accommodation, good health in the daily lives of human beings. When the socio-economic conditions of the individual can’t meet the requirements of meeting the basic needs this condition is known as Poverty. Poverty is everywhere but it is more common in developing countries (Landes, 2015).

More than one in five individuals’ lives on less than $1 earning per day. In the developing countries, poverty causes homelessness, hunger and severe health problems. Poverty is the basic issue of increased global issues of the current condition in the world. This is emerging issue has to be reduced by the initiatives from the private and public sectors (Smith, 2015).

Trading for social and environmental causes is a business of Social Enterprise. Social Enterprise pertains the commercial or profitable strategies for providing maximised improvements towards human and environment wellbeing. This is a way to maximise the social effect besides generating profits for shareholders and reducing the global issue of poverty. This develops as a system in different ways according to different legal regulations of different countries.

Social Enterprises can be mutual, cooperative as well as an unnoticed body. It can also be a Social business or a corporation, a company of community interest or charity body. There may be the orthodox structure of Social Enterprise. These organisations have a social mission of reducing the poverty and increasing the wellbeing of individuals (Ridley-Duff, Bull, 2015).

Social Enterprises has emerged since long and working successfully in different countries of the world but its emergence towards the health and social sector is comparatively new. A well-known example of a social enterprise is “The Big Issue” in the UK working with the dominant purpose of addressing the problems of homeless individuals and providing support to them that help them to flourish.

The majority of the organisations in the world consider the social responsibility as one of the essential parts of their business while social enterprises have the central and core objective of serving the environment and community with their social services. According to reports currently, around 55,000 social enterprises of UK are generating revenue making 1% of the total GDP (Battilana, and Lee, 2014).

Discussion on the Proposal

Social Entrepreneurship Plan:

• Company background

This proposal is for the design of social enterprise business with the primary objectives is for social causes and the profits gained will be reinvested into the services and the community work. Another objective is to target global level poverty, by getting the endorsement of change leaders (celebrities, government officials, executives and etc.). Our organisation would contact the relevant people through letters, social media and other channels to get the relevant resources and etc.

This enterprise will not have any financial commitment to the shareholders or with the owners and it will work freely with the objective of investing the additional income as revenue in its operational practices and to make the operations effective and efficient as much as possible. The idea of establishing a social enterprise is that it will run and own by the staff which is working exactly the way cooperatives and mutual do. This enterprise will generate the revenue and income through the trading of goods as well.

The company or enterprise for the social cause is a new initiative of establishing a company. The company will be called Global Champions of Change which has focused on reducing global poverty and hunger.

• Ownership of Global Champions of Change

Ownership of Global Champions of Change has differentiating characteristic as other private businesses are owned by the shareholders. The social enterprise as Global Champions of Change will be owned by following:

• Customers or the Consumers
• Serving Employees of the enterprise
• Community of the area
• Board of trustees
• Public entities
• Different public-private groups.
• Multiple Organisation

Multiple organisations from the other sectors of industry including groups of voluntary and community make partnerships with the social enterprises. This third sector organisation partnership can be the opportunity for this setup (Doherty, Haugh, and Lyon, 2014).

As this company is established for the reduction of poverty and hunger, it will have multiple opportunities in the market to develop and prosper. The company will aim to work as a social action platform to resolve the world’s emerging challenges and issues. This platform will help to learn about the global issues and the company will take actions accordingly to resolve the matters involve in bringing the change to the society and community especially regarding the issues of hunger and poverty. The company has the plan to end the poverty issue by 2030, by the mutual activities and practices of Global Champions of change and other organisations around the world.

• Potential Benefits of Global Champion Change

The company competitive advantage will be the utilisation of latest and modern communication technologies for the purpose of achieving the target of reducing poverty. The latest and modern communication tools and technology will help in promoting this initiative of reducing poverty globally.

Market Opportunity:

• Rationale for the Initiative of Global Champions of Change

This program is initiated with the cause to reduce the emerging issue of poverty as it is increasing in the world with high rate. Poverty being the big global issue has given the opportunity to the entrepreneurs to work for the cause of reducing poverty as increased poverty is promoting the challenges such as health problems, hunger issues, and homelessness.

Despite the increase in economies of the developing countries, the poverty level is constant in fact increasing. It is now clear that economic growth alone cannot contribute to reducing the poverty. There should be initiatives that have to be taken in accordance to come over the rising problem of poverty in the world……………………………………..continued