What Does it Mean to Own and Operate a Socially Conscious Business?
As a new socially conscious business owner, I ask myself this question all the time. What social indicators could be affected through Evolvemint’s product line? I am intimate with each part of the supply chain for the silk scarves (and upcoming line of dresses) but I have developed some rules to ensure gender empowerment and sustainable economic development approaches are being considered and measured.
Here are Evolvemint’s rules:
1. Understand the operating environment –The business enabling environment needs to consider the cultural setting, access to basic infrastructure (such as: water, electricity, transportation) as well as rules and regulations pertaining to registering and operating a business. Evolvemint’s expectations and long-term vision has to take the environment into consideration.
2. No free handouts –Partners and recipients regardless of the country they are based in need to be treated equally in a business environment. A perfect example: Over 35% of our silk scarves are reinvested into employment generation opportunities. Evolvemint provides opportunity for small enterprises to have greater access to markets. We engage in these partnerships to promote confidence in negotiation skills for international markets, better understanding of product development, as well as how to determine quality standards.
3. Information sharing is a MUST – If ideas and perspectives are not shared we cannot create a sustainable economic environment. Evolvemint has to share information about consumer demand and partners have to share production and supply logistics. Together we can discuss constraints and risks to improve and be efficient within our operating environments.
Here is the potential impact from these decisions:
Other potential benefits:
A trip to Bangladesh will also be taking place this month to meet new partners that uphold the same mission as this company.