As consumers become increasingly conscious of the need for business and products to contribute towards alleviating poverty as well as social issues, it is becoming increasingly pertinent for businesses to incorporate social responsibility initiatives into their day-to-day operations. Furthermore, it is becoming an increasingly practical way of doing business as the concept of ‘shared value’ saturates the private sector shedding light on the financial benefits that come from businesses ensuring their supply chains are socially responsible.
Shared Value is a management strategy that allows companies to find business opportunities through their social responsibilities. It involves reconceiving products and markets to meet societal needs and changing practices in the value chain to bolster productivity. Importantly, incorporating the management of shared value into business operations requires consultation and cooperation with non-governmental organisations (NGOs), social enterprises and often the government sector given their specific expertise in tackling social problems that produce both social and financial value for organisations.
Indonesia is a country tipped to be the 4th largest economy in the world by 2030. With a population of 261.1 million and a growing middle class, it dually represents a prime business opportunity for many potential businesses. However, there are a significant amount of social problems that would benefit significantly from corporate support and contribute to wider economic development. Partnering with NGOs and social enterprises in Indonesia represents both a significant business opportunity and opportunity for business to affect change in a positive manner.
Via Sport is managed by both Australian and Indonesian young professional with a range of educational program outcomes for school children in Bali based around health, nutrition and environmental education. Via Sport partners with business, looking to unlock business potential in Indonesia whilst also looking to incorporate socially responsible initiatives into their business models. We do this by creating new demand for sports gear and professional sporting services, both in Australia and Indonesia. We create real value for brand equity through the goodwill generated by our programs and create the people to people links that allow free trade to take place, removing barriers to economic growth. For every dollar spent on sport in Australia there is a seven dollar return with similar estimates for Indonesia as its economy continues to grow more than 5% per annum. Doing business in Indonesia without due diligence and consultation may be riskier and more complex, but the payoff is also much higher.