A Road Map for How Businesses Can Grow in the World’s Most Challenging Environments
Jul 16, 2024
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Discover how businesses can prosper in challenging environments like Senegal and Lebanon as Viva Ona Bartkus and Emily S. Block share insights on profitability, community engagement, and navigating cultural landscapes from their book 'Business on the Edge'.
Engaging in challenging regions can be rewarding, offering untapped business potential.
Businesses must prioritize ethical practices, hiring locals, and forging partnerships for sustainable growth.
Deep dives
Business on the Front Lines: Exploring Risk and Potential in Critical Environments
Discussing the concept of 'frontline environments,' the podcast highlights Senegal, Honduras, and Uganda as examples of isolated areas facing poverty and violence. These regions present challenges but also hold untapped potential for business opportunities, according to the authors of the book 'Business on the Edge.' Despite the risks, the authors argue that engaging in these tough places can be rewarding, emphasizing the significant economic value and the role of businesses in addressing global challenges.
Navigating Partnerships and Local Engagement in Frontline Environments
The podcast delves into the importance of establishing local partnerships and understanding the complex dynamics of frontline environments for businesses. Emphasized is the need for companies to conduct thorough research, build trust with local stakeholders, and adapt their strategies based on community feedback to ensure successful operations in challenging regions. Real-world examples demonstrate the significance of genuine engagement and cultural understanding.
Ethical Business Practices in Challenging Markets
Focusing on ethical considerations, the podcast addresses the potential pitfalls of doing business in unfamiliar or unstable territories. The speakers advocate for a balanced approach that values profitability while also benefiting local communities. They highlight the importance of hiring locals, partnering with suppliers, and engaging with communities authentically to combat exploitation and foster sustainable economic growth in challenging markets.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Viva Ona Bartkus, Associate Professor at Notre Dame and Emily S. Block, Chair of Management at the University of Alberta, discuss their book Business on the Edge: How to Turn a Profit and Improve Lives in the World’s Toughest Places. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.