Round table: "How to create a business model capable of generating social impact"

To sensitize and make the private sector aware of the importance and necessity of its commitment to the progress of society, on March 22 we organized a round table entitled "How to create a business model capable of generating social impact" at IESE . At the table, moderated by IESE professor Joan Fontrodona (professor and director of the IESE Department of Business Ethics), Eduardo Conde (partner at Seeliger y Conde and president of the Codespa Foundation), Montse Prats i Ripoll (Responsible for the Mediolanum Foundation in Spain) and David Levy, president and founder of migranodearena.

Joan Fontrodona introduced the round table explaining that, in Spain, although companies apparently have this social commitment, much remains to be done. In most cases, companies' strategies are not aligned with returning part of their profits to society. Business organizations, with few exceptions, are not aware that the success of a company is not only measured financially, but also with social compliance. Generating social impact for a company should not be an option but a responsibility (business case versus moral case).

As established by Eduardo Conde, "the company should become an engine of social change and an active agent in the construction of an inclusive and non-discriminatory society." In this sense, Eduardo gave examples of companies that, betting on diversity and solidarity, have been very successful, as is the case of the Codespa Foundation, a foundation that he himself chairs, which trains people at risk of exclusion, helping them to create micro-businesses and market the products of these micro-businesses. The case of ISS that gives its employees the option to donate a solidarity euro from their payroll. Or also GAES, which, by helping people with hearing disabilities, manage to train them to work and thus manage to identify which countries are suitable for selling their hearing aids. These examples confirm that developing a business strategy in line with the SDGs and the 2030 Agenda, exploring alternatives that respond to this need for change and leading the sustainable transformation of an organization are major challenges for companies, but at the same time, they can be a source of new business opportunities.

Montse Prats spoke that being supportive entails innovating. He explained to us the keys to the success of Banco Mediolanum's Solidarity Week, a solidarity event that has become for the bank an engine for generating new ideas, from which the entity has undoubtedly benefited and continues to benefit. Thanks to this event they have managed to give visibility and bring NGOs closer to their private banking clients. Among the keys to success that he mentioned, we are left with the following:

1. A) The solidarity event was born at the initiative of the CEO, so it is promoted from the highest spheres, but involves the entire company. The family bankers are responsible for choosing the beneficiary NGOs and the activities that will be organized with the clients to raise funds.
2. B) The fact that Banco Mediolanum matches donations is an impressive catalyst.
3. C) The communication plan, both internal at the company level, and external to customers (especially through emailing and WhatsApp), publicizing the different campaigns, as well as their evolution.
4. D) The fact that both workers and clients are involved in the initiative and in the projects of the NGO helps to create a great feeling of community and pride of belonging.
5. E) Thank everyone for participating.
6. F) The use of the migranodearena platform to manage the event. Montse stressed the efficiency and transparency of the platform, as well as the responsibility and professionalism of the team, which is key to the correct development of the event.

Lastly, David Levy spoke about the fact that human beings are extraordinary and that together we are capable of anything. And we have shown this with the explosion of solidarity that occurred as a result of the COVID-19 pandemic, and that to a lesser extent we have lived with the war in Ukraine. In both cases, companies have played a leading role in promoting solidarity.

One of the handicaps of companies is the lack of a department or staff with time and knowledge to help align the company's objectives with sustainability and social impact objectives. From migranodearena we help companies to carry out this task.

If you want migranodearena to be the supportive partner that your company needs, contact us at info@migranodearena.org. We will analyze your case and propose ideas to be a socially responsible company.