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Why Business Can Be Good at Solving Social Problems

October 9, 2013

Michael Porter, a leading business strategist and a distinguished Professor at Harvard Business School was the co-creator of the shared value concept. He argues that ‘only business can create resources’, therefore they are best positioned to create ‘self sustaining’ enterprises that can solve issues in the long term. How do we tap into the power of business to solve our fundamental problems? Porter provides a solution in an animated TED talk. Here is how TED put it:

Why do we turn to nonprofits, NGOs and governments to solve society’s biggest problems? Michael Porter admits he’s biased, as a business school professor, but he wants you to hear his case for letting business try to solve massive problems like climate change and access to water. Why? Because when business solves a problem, it makes a profit — which lets that solution grow.

Watch the video:


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