Business + Finance

Want to Change the World? Allow the Private Sector to Do What It Does Best.

For the past week, the world has watched as heads of state and global business leaders convened in New York City for the 72nd United Nations General Assembly. The agenda was far from light. Topics ranged from food security to climate change to the refugee crisis to healthcare. The task at hand – achieving the 17 UN Sustainable Development Goals (SDGs) by 2030 – is a daunting one and it’s become widely understood that the private sector has a critical role to play in ensuring those goals are reached.

But the public and private sectors are also beginning to recognize that philanthropic dollars alone will not get us there. More and more corporate philanthropy is being viewed as a catalyst for action that connects back to longer-term business objectives.

Setting consistent and evolving business goals enables businesses to aim and accomplish these objectives in their daily work practices, and this will be essential for any company looking for success. Profit provides OKR software that allows business teams and employers to view, set, and manage their goals in an efficient fashion, ensuring that these longer-term business objectives are always at the forefront of their minds. So, this should be considered if you are looking to implement a similar strategy.

This principle of doing well and doing good is not new, but it’s especially important for the private sector, maybe now more than ever. At Mastercard, we don’t see the two concepts as mutually exclusive. Rather, we believe companies can deliver on their business objectives and have a positive impact on the world around them. In fact, it’s a must to do both.

Mastercard CEO Ajay Banga at UN General Assembly last week

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