Integrate the poor into business value chain: analysts
Corporate Bangladesh should integrate marginalised groups into its business value chain as it will help them reach the untouched markets and improve the wellbeing of the poor at the same time, said analysts yesterday.
“The private sector can incorporate the poor people into the value chain through partnering with development organisations,” said Nazneen C Huq, a TPI associate of the International Business Leaders Forum (IBLF) who was one of the trainers at the international workshop on “Sustainability through Profitable Inclusive Business” organised by CARE Bangladesh in Dhaka yesterday.
“Business organisations should focus on pursuing the inclusive business model as it will help them achieve the business objectives and contribute to the society,” said Parveen S Huda, Bangladesh country manager of Business Innovation Facility.
Representatives from leading local and foreign private sector companies based in Dhaka took part in the event, which was conducted by trainers from IBLF and Business Innovation Facility (BIF), both based in the UK.
The workshop is part of a project 'Responsible Business Promotion in Bangladesh' being implemented by CARE Bangladesh this year, with funding from United Kingdom Department from International Development (DFID) and CARE International UK.
The project aims at researching into and addressing the precise needs of national industry and civil society in understanding and implementing responsible business models in Bangladesh and providing training to the stakeholders, CARE Bangladesh said in a statement.
Joanna Pyres, a TPI associate of IBLF, said: “The corporate sector should form a partnership with the development organisations as it will enhance its reputation and credibility by expanding the markets and networks.”
Pyres suggested the development organisations might go for identifying their capacity gaps and address the issue of sustainability for working business entities successfully.
CARE Bangladesh will also host a two-day training programme for business and NGO practitioners willing to learn about the practicalities of partnering, experience sharing and networking on April 19-20.
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