In today’s globalized world, entrepreneurs and companies are taking their businesses international – hence the causes and contributions made by business have to go international as well, according to education activist Joelle Wyser-Pratte. Enterprises can no longer remain competitive by remaining open for business in their home markets. Highly successful businesses are now found operating in many markets around the world, including in developing nations.
Despite the many success stories, it is important for businesses to not neglect the importance of creating a lasting social impact on the societies of the developing markets they derive their revenues from. As an entrepreneur, what are the causes you can help support in developing countries in the world? Here are some tips by Joelle Wyser-Pratte, co-founder of Ounavarra Capital LLC which helps select alternative managers grow their businesses and investor bases. JoelleWyser-Pratte is also the co-founder of The Ounavarra Foundation, a non-profit charitable foundation dedicated to supporting educational causes throughout the world.
Education for Developing Nations – Ideas from Joelle Wyser-Pratte
According to Joelle Wyser-Pratte, approximately one-quarter of girls (roughly 100 million of them) in developing countries are not in school. That represents more than 70 percent of the total children out of school in developing countries.
Education for developing countries is an important cause for entrepreneurs to support due to the long-lasting sustainable impact. In a study, The World Bank found that if all the girls in Kenya completed secondary school, they would add 27 billion to Kenyan GDP over the lifetime. Moreover, over the entire 14-country group studied by the World Bank’s researchers, adding one level to the average girls’ education would raise the group GDP by 1.5 percent per year (in addition to the aforementioned countries, the World Bank looked at China, Burundi, Uganda, Brazil, Malawi, Paraguay, Senegal, South Africa and Tanzania).
Rather than simply writing checks or donating food to good causes, companies should aim to become a force for positive change while enhancing their customer appeal and long-term competitiveness. Entrepreneurs should have reconceive their products or devote resources to address social issues such as education. This approach is highly favoured by education activists including Joelle Wyser-Pratte.
The Value of Making Societal Contribution for Companies
Indeed, the highest level of relevance is achieved by generating shared value. It’s based on the growing belief that generating a profit and achieving social progress are not mutually exclusive goals.
A convergence of trends, including greater exposure to the needs of customers in emerging markets, shortages in natural resources, and increasing pressure to cut costs, have led progressive companies to seriously consider devoting their energies in a manner that create value for themselves and others. This is a sustainable approached advocated by Joelle Wyser-Pratteand other philanthropists.
About Joelle Wyser-Pratte
Joelle Wyser-Pratteis the co-founder of The Ounavarra Foundation, a non-profit charitable foundation dedicated to supporting educational causes throughout the world. Wyser-Pratte also co-found Ounavarra Capital LLC to help other select alternative managers grow their businesses and investor bases. Prior to the securities business, Joelle began her career in journalism with International Media Partners and NBC Television in Florida. Joelle graduated from Tufts University, and holds Series 7 and 63 registrations with FINRA.
