Kris Crismundo, PNA | September 30, 2017, 12:15 PM
Vice President Leni Robredo/OVP file photo
MANILA – Vice President Maria Leonor Robredo has called on franchisers to use an inclusive business model to help eradicate poverty in the country.
In her keynote speech during the opening of the 16th Franchise and Business Expo of the Association of Filipino Franchisers Inc. (AFFI) Friday, Robredo said businesses should expand their operations not only by increasing their sales but by looking into social needs as well.
She pointed out that despite the expansion of the country’s economy, many remain poor and jobless, a sign that economic growth is not inclusive.
Robredo noted that through an inclusive business model, businesses – franchisers in particular – can engage the bottom of the pyramid in their business operations and help them increase their income.
Under the inclusive business model, the lower income groups participate in the value chain, either as suppliers or consumers, through partnership with big companies.
Unlike in corporate social responsibility, lower income groups are not treated as beneficiaries in the inclusive business model.
Robredo said that with ASEAN integration, franchisers can tap the inclusive business model as an innovative business model that would enable the industry to thrive despite the challenges brought by the integration.