[ Impact economy ]
Beyond Good produces its chocolate bars in Madagascar, next to where the cocoa is grown and processed
How ‘civic wealth creation’ is strengthening local communities through commerce and collaboration 12 I by IMD • December 2023
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n a rural Latin American region, demand for local crops had dramatically decreased due to competition from cheap imports, leaving already low-income farmers facing severe unemployment, and putting communities at risk of health complications. When the social innovation unit of a global food company, with a strong track record in the region, found out about the issue, they sought to further develop relations by assisting the farmers and community to find a solution. To help, the company identified a local innovative enterprise and decided to provide initial seed funding and business expertise to develop new
Photo: Beyond Good
Building bridges and restoring hope
When diverse stakeholders and regular citizens collaborate and coalesce around positive societal change initiatives, they can develop viable solutions to the complex problems that can impede local economies, write Sophie Bacq and Tom Lumpkin
