Aalto EE Profile Toolbox 2_2013

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You can use Toolbox materials at work, to link with your blog or when giving a presentation – or forward it to colleagues. The background ideas are available in a variety of web sources.

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Aalto EE Profile Toolbox 2_2013

  1. 1. ToolboxResponsiblyyoursImprove yourown and otherpeople’s lives.Achieve economic successthat creates value for everyone.Text: Satu Rämö
  2. 2. Toolbox12 534FindgrowthatthebaseofthepyramidWhile the western markets are slowingdown, economic growth can be found indeveloping and low-income countries.Minna Halme, Professor of CorporateResponsibility at Aalto University
  3. 3. Toolbox12 534FindgrowthatthebaseofthepyramidGlobally, there are over four billion people with apurchasing power of less than 5 euros a day. Thatmeans an annual purchasing power of trillions of euros.Minna Halme, Professor of CorporateResponsibility at Aalto University
  4. 4. Toolbox12 534FindgrowthatthebaseofthepyramidThe poorest but largest market segment is oftenreferred to as the base of the global income pyramid –BOP. People at the BOP are poor, but in need of newproducts and services to improve their wellbeing.Minna Halme, Professor of CorporateResponsibility at Aalto University
  5. 5. Toolbox12 534FindgrowthatthebaseofthepyramidExpansion to low-income markets can bringvarious growth opportunities for companies.Minna Halme, Professor of CorporateResponsibility at Aalto University
  6. 6. ToolboxBuildaprofitableventureattheBOP21534**Base of the global income pyramid.Source: Halme, Lindeman & Linna. Innovation for Inclusive Business:Intrapreneurial Bricolage in Multinational Corporations.Journal of Management Studies, 2012, vol. 49, issue 4.3
  7. 7. ToolboxA. Make an effort to facilitate therecognition and legitimization of thenew venture within your organization.B. Create different, or at least modified,evaluation schemes. The upper-middlemanagers, who take the decision tocontinue or to terminate the innovationprocess,need a formal basis to justify theirdecisions.C. Find committed and determinedindividuals with a resourceful mindsetand entrepreneurial characteristics.BuildaprofitableventureattheBOP21534**Base of the global income pyramid.Source: Halme, Lindeman & Linna. Innovation for Inclusive Business:Intrapreneurial Bricolage in Multinational Corporations.Journal of Management Studies, 2012, vol. 49, issue 4.3
  8. 8. ToolboxA. Make an effort to facilitate therecognition and legitimization of thenew venture within your organization.B. Create different, or at least modified,evaluation schemes. The upper-middlemanagers, who take the decision tocontinue or to terminate the innovationprocess, need a formal basis to justifytheir decisions.C. Find committed and determinedindividuals with a resourceful mindsetand entrepreneurial characteristics.D. Go local. Locally-based managers arewell placed to observe the social needsof the people in the area and to engagewith local entities to build trust andnetworks.BuildaprofitableventureattheBOP21534**Base of the global income pyramid.Source: Halme, Lindeman & Linna. Innovation for Inclusive Business:Intrapreneurial Bricolage in Multinational Corporations.Journal of Management Studies, 2012, vol. 49, issue 4.3
  9. 9. Toolboxcontinue or to terminate the innovationprocess, need a formal basis to justifytheir decisions.C. Find committed and determinedindividuals with a resourceful mindsetand entrepreneurial characteristics.D. Go local. Locally-based managers arewell placed to observe the social needsof the people in the area and to engagewith local entities to build trust andnetworks.E. Keep innovators close. Having closecontacts and lobbying power at thecorporate headquarters is important.If innovators are out of touch withthe headquarters, it creates problemsin mobilizing corporate support andBuildaprofitableventureattheBOP21534**Base of the global income pyramid.Source: Halme, Lindeman & Linna. Innovation for Inclusive Business:Intrapreneurial Bricolage in Multinational Corporations.Journal of Management Studies, 2012, vol. 49, issue 4.3
  10. 10. ToolboxC. Find committed and determinedindividuals with a resourceful mindsetand entrepreneurial characteristics.D. Go local. Locally-based managers arewell placed to observe the social needsof the people in the area and to engagewith local entities to build trust andnetworks.E. Keep innovators close. Having closecontacts and lobbying power at thecorporate headquarters is important.If innovators are out of touch withthe headquarters, it creates problemsin mobilizing corporate support andresources for truly novel innovationproposals that BOP markets tend torequire.BuildaprofitableventureattheBOP21534**Base of the global income pyramid.Source: Halme, Lindeman & Linna. Innovation for Inclusive Business:Intrapreneurial Bricolage in Multinational Corporations.Journal of Management Studies, 2012, vol. 49, issue 4.3
  11. 11. ToolboxE. Keep innovators close. Having closecontacts and lobbying power at thecorporate headquarters is important.If innovators are out of touch withthe headquarters, it creates problemsin mobilizing corporate support andresources for truly novel innovationproposals that BOP markets tend torequire.BuildaprofitableventureattheBOP21534**Base of the global income pyramid.Source: Halme, Lindeman & Linna. Innovation for Inclusive Business:Intrapreneurial Bricolage in Multinational Corporations.Journal of Management Studies, 2012, vol. 49, issue 4.3
  12. 12. Toolbox31254CheckoutWeconomyStartWeconomy Start isa one-year innovationprogram established to helpcompanies design sustainablebusiness innovations inchallenging environments.www.weconomy.fi
  13. 13. Toolbox31254CheckoutWeconomyStartThe program, facilitatedby World Vision, AaltoUniversity and Finpro, aimsto boost companies’ growthwhile finding solutionsto social, economic andecological challenges.
  14. 14. Toolbox31254CheckoutWeconomyStartAmong the first arecompanies involved inthe production of organicfertilizers, cost-efficienthousing and sustainableenergy.
  15. 15. Toolbox4123Over60%ofcompaniesthathavechangedtheirbusinessmodelandhavesustainabilityasapermanentfixtureontheirmanagementagendahaveaddedprofitfromsustainability,claimsareportbyMITSloanManagementReviewandTheBostonConsultingGroup.5
  16. 16. Toolbox4123These are the most important businesspractices in making profits fromsustainability:1. Consider business model changes.2. Lead from the top and integrate the effort.3. Measure and track sustainability goals andperformance.4. Understand customers’ sustainabilityperspectives and willingness to pay forsustainable products or services.5. Collaborate with individuals, customers,businesses, and groups beyond theorganization’s boundaries.5
  17. 17. Toolbox51234 Harvard University professor Michael E. Porter believes thatshared value is a new way to achieve economic success. http://bit.ly/mporterA successful business needs a successful community to createdemand for its products. The solution lies in the principle of sharedvalue, which involves creating economic value in a way that alsogenerates societal value.The purpose of the corporation must be redefined ascreating shared value, not just profit per se.Createvalueforeveryone!
  18. 18. Toolboxmagazine 2/2013to read the whole magazine for free click hereMAGAZINE OF AALTO UNIVERSITY EXECUTIVE EDUCATION 2.2013Is there money in corporate social responsibility?SUSTAINABILITYISPAYINGOFFFORAGROWINGNUMBEROFCOMPANIES.SUCCESSISNOTABOUTSELLINGASMANYPRODUCTSASPOSSIBLE.Profit from sustainability has gone upfrom 23 percent to 37 percent, says a survey byMIT Sloan Management Review.8Companies that have made sustainabilitya permanent fixture on their management agenda25Strong signs indicate thesharing society is aboutto trump the ownershipsociety.13SHOULDYOUCHANGEYOURBUSINESSMODEL?

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