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How to Marry Economic & Social Objectives in Local Government
Phil Preston
Note: all images courtesy of shutterstock.com
What is this slideshow about?
How local government can motivate and
sustain effective business and community
partnerships.
If this is how social investment works in your area - I suggest reading on!
Why?
Studies show that local economies only
thrive in healthy social settings, which
means that your business and social
agendas are inextricably linked.
“It's very hard to run a successful business in a poor community”
– Mike Hirst, Managing Director Bendigo & Adelaide Bank
I doubt this is surprising…
So, is it about more giving?
Corporate philanthropy equates to less
than 0.1% of private sector production.
There are new approaches that work on a
far greater scale.
“Philanthropy is admirable but it’s not very effective”
– Phil Preston
It’s not about doing things for show
Beyond philanthropy…
A construction labour force company set
up an 8-week training program with a life
skills component to help sustain youth
employment outcomes and reduce
turnover and costs.
What if more more businesses thought and acted in this way?
The benefits
Effective partnerships will help in:
• Alleviating budgetary pressures
• Improving services and delivery
• Increasing local resilience and prosperity.
Question
Are your Economic Development and
Community Development agendas truly
integrated?
Comment
If you answered “no” or “somewhat”
then this resource will be helpful.
Business motivation #1 for investing in social issues
Type of investment
Philanthropy
What Giftingoffinancialorotherresources
Why Drivenbysocialconscienceordesiretobeagoodcorporatecitizen
Example Sponsoringasportsteam;donatingsurplusfood;volunteeringdays
Impact Low
Business motivation #2 for investing in social issues
Type of investment
Community and impact investments
What Communityinvestmentsfocusedonspecificsocialimpacts,includingformsofcorporatesocialresponsibility(CSR)
Why Drivenprimarilybybrandandreputationenhancementsandriskmanagement
Example Ahealthproductscompanypartneringwithachildren’shospital
Impact Low-medium
Business motivation #3 for investing in social issues
Type of investment
Creating shared value
What Thebusinessderivesabenefitbypositivelycontributingtosocialoutcomes
Why Drivenbyadesiretocreatevalueatscaleonboththeeconomicandsocialfronts
Example Realestateagentshelpingtoreducetenancyevictionsandloweringoperatingcosts
Impact Highandsustained
To facilitate effective partnerships, ponder:• How do you get this message through?
• How do you motivate change?
• What support can you provide?
• What process or framework can you use?
• What practical steps should you take?
These challenges can be overcome
I’ll help you with guidance on:
• Enabling businesses to create ‘shared value’
• The 7 mindset requirements
• Outlining all the options available
• A framework and process to use
• Six local government explorations
Contact details
Phil Preston Shared Value Expert | Collaboration & Facilitation Services |
Keynote Speaker on Business and Social Convergence
Who I’ve worked with…
