Beyond Business Incentives: A Call for Noble Enterprises
The world progresses when individuals and businesses transcend their incentives, as showcased by The END Fund at the Davos summit.
The Success of The END Fund
- The END Fund: A non-profit focused on eradicating neglected tropical diseases.
- River Blindness Elimination: Achieved in several African countries through a network of health professionals and volunteers.
Broader Implications for Businesses
The Davos summit raised questions on how to motivate businesses to act beyond their profit incentives and resemble social enterprises.
- Ethical Professions: Medicine, law, and journalism balance profit-seeking with societal obligations.
- Professional Responsibility: The need for a moral compass in professions influencing human wellbeing, like coding and consulting.
The Role of Noble Professions
- Creating Noble Companies: Noble professionals foster noble companies, contributing to sustainable development goals.
- Shared Value: The concept of creating win-win situations for social outcomes and profits is limited.
Reimagining Professional Obligations
Fundamental change requires professionals to embrace social responsibilities alongside financial goals, akin to a social enterprise.
- Social Enterprise Concept: Companies driven by both financial sustainability and social obligations.
Collaboration for the Intelligent Age
This year’s WEF theme encourages corporations and social enterprises to not only collaborate but also integrate, suggesting a need for profound shifts beyond mere conversations.
