Insurance Australia Group (IAG), Australasia’s largest general insurer, has been recognised as among the 50 companies that change the world, in the third annual Fortune Change the World list released last week.

Australian companies have been recognised for making a positive social impact, after being named in Fortune Magazine’s Change the World List.

The Fortune annual Change the World list of companies that are doing well by doing good has been released, with Bendigo and Adelaide Bank ranked the top Australian company.

Thirteen is now a lucky number for Bendigo and Adelaide Bank after ranking in that position in Fortune magazine’s list of companies that are changing the world.

Fortune just published its 2017 Change the World list, which highlights the work of corporations making social benefit part of their core businesses.

Business schools also need to evolve to prepare the business leaders of tomorrow. Historically business has been solely focused on making profits and increasing shareholder value. In today’s environment, this just does not cut it anymore.

Nestlé Malaysia’s Nestlé Paddy Club initiated the farming contract model that has attracted many local farmers looking to increase their yields and better their standards of living.

Enterprises today need to think out of the box and start to embed the idea of social good as part of its strategy. The idea is to move beyond philanthropy, CSR investments and making social good as part of its business model. Embedding social good as part of the business model is the idea of shared value.

The usage of shared value as a guiding principle to redefine business strategy is rapidly catching on as more and more companies look to differentiate themselves from their peers by adopting inclusive businesses.