Like investment expert and philanthropist Alex von Furstenberg, Bill Gates is a strong believer of philanthropic efforts from businesses to bring about necessary changes in society.
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| Image Source: voaky.org |
Businesses are driven by aims for profit. Where there are free markets, there are also exchanges of ideas and products that bring about a better quality of life for consumers. The problem in this setup is that businesses that are concerned with profit alone tend to miss out on the needs of those that cannot pay.
The area that is commonly overlooked by for-profit organizations is where the government steps in and plays a significant role. With government investment in fields that serve the common good, like in medical research, aid and benefits can reach the people that need support the most.
Still, in spite of the business community and the government working on their own agendas, Bill Gates has shared that there still exists an area for innovations that can be ultimately rewarding for all. That space is what he calls the area for “catalytic philanthropy.”
Video Source: forbes.com
By reaching beyond market forces and investing in areas that are missed by government funding, society moves toward solving some long standing ills even when there is no apparent benefit to the initiators.
Profit may not come in the form of monetary gains for the companies that drive investments toward solutions for overlooked problems of society and the world at large. It may actually just come in the form of improvements in the status of society and in the form of benefits which may be enjoyed by all.
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| Image Source: shatil.org.il |
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