2nd Global Conference on Social Responsibility

When: 15-17 February 2007
Where: Dom Pedro Golf Hotel, Portugal

Role of Business in Alleviating Poverty

Dear All
2nd Global Conference on Social Responsibility ­ Vilamoura II

The UN Millennium Development Goals which range form cutting in half extreme poverty to stopping the spread of HIV/AIDS and guaranteeing universal primary education by 2015 require a concerted action by governments, international agencies, donors, NGOs, academics, civil society and the business.

The theme of our last conference in Vilmoura (Portugal) 16-18 February 2006 was the Role of business in alleviating poverty. Deliberations focused on the practical steps that business can take to benefit the poor and raise profits.

It was observed that CSR needed a paradigmic change. Its role needs to be widened, something like CSR Plus. It should be perceived as an opportunity for wealth creation by connecting the world to the boardroom & boardroom to the village.

Bottom of the pyramid markets, because of their volumes, offer buying power far in excess of their individual capacities, thereby offering huge business benefits. CSR should be seen as a business goal and embedded in the strategic plan. The approach should not be one of spreading consumerism but to serve the needs of the poor through world class products at one fiftieth of the cost.

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