Challenges
Taking up inclusive business is a challenge by itself.
- Internal challenges — taking up an inclusive initiative in a corporate firm implies undergoing major internal changes that may be unwelcomed and opposed. It may be seen as too risky and also not too rewarding in the short run. In many cases it is also considered to be highly time consuming. Therefore it is important to keep in mind the internal structure of the firm as there needs to be internal commitment and initiative.
- External environment challenges — these are what are usually referred to as external diseconomies. As we are all very well aware the poor are the most ignored category in the society by the government. They lack basic infrastructural facilities like housing, electricity, water, sanitation etc. it is often seen that small suppliers do not have proper roads and communication systems. These can be major drawbacks for the firm.
- Social challenges — conventionally business firms are known to be profit motived. Therefore before taking up any such inclusive business ideas it is essential to gain the local population’s trust and respect. But this might result in a drastic change in the existing social patterns. Therefore building such relationships should be done with utmost care so that there are no social disturbances within the concerned localities.
Read more about this topic: Inclusive Business
Famous quotes containing the word challenges:
“The approval of the public is to be avoided like the plague. It is absolutely essential to keep the public from entering if one wishes to avoid confusion. I must add that the public must be kept panting in expectation at the gate by a system of challenges and provocations.”
—André Breton (1896–1966)
“A powerful idea communicates some of its strength to him who challenges it.”
—Marcel Proust (1871–1922)