What are the Arc Initiative and social enterprise?
Both the Arc Initiative and social enterprise aim to achieve an improvement in the human and environmental well-being through the use of business. While a social enterprise is an organization that aims to improve the social well-being rather than maximizing profits, the Arc Initiative is a program consists of business leaders, students and faculty members who share the same vision as a social enterprise.
The United Nations, Arc Initiative & Social Enterprise
Firstly, the United Nations, Arc Initiative and social enterprises share a common goal of being able to create a better human and environmental welfare. I believe that the Arc Initiative and social enterprises exist in order to modernize business practices and procedures in less developed countries. Not only this, but social enterprises can also help to create employment in a local community. For example, Osei-Duro is a social enterprise based in Ghana, with the goal of promoting local hand-dyed fabric and provide employment opportunities. Because of this, there is an exchange of knowledge between the local community and international consumers. The local community is able to gain a better understanding of these business practices and procedures, while international consumers who buy the local fabric become more aware of the West African culture.
I believe this is something that lacks in the United Nations, and so both the Arc Iniative and social enterprises can help to improve both human and environmental well-being.