However, if you have invested in this token, this is not a day for you. PancakeSwap dips by 0.88% in the last 24 hours. The market cap is presently at 546.856 million USD. Trading volume hikes by 47.35%. Each CAKE token is selling for 3.34 USD.Inclusive business is a conscious decision by a commercially viable enterprise to accommodate the poor, vulnerable and economically disadvantaged in an organisation’s value chain. As organisations struggle to get a fair share of the market to remain afloat, doing so could be a difficult task. We have seen businesses strive to make profit and influence consumption patterns in their sector to their benefit. Meanwhile, these businesses could do so by making an impact for the common good of society, hence a case for inclusive business.The business model must cater for the needs of those at the base of the pyramid. Those at the base of the pyramid should be able to afford the goods and services of this economically inclusive business. Low-income people should be involved either as employees or earning more than the minimum wage. Those at the base of the pyramid can be engaged as distributors from the point of production to the end of the sale. The poor can be part of the retailers or end-users of the product or services.An inclusive business model is synonymous with businesses that can make their product and service available to the poor without creating a product or service bias in an economy. Inclusive business is not the same as corporate social responsibility, social impact or philanthropy activities.Small, growing or large businesses are the heartbeat of emerging global economies. If these businesses adopt an inclusive business model approach, its multiplier effect will yield a myriad of positive impacts on the economy, individuals, and businesses. An inclusive business model is a missing middle that can improve economic growth, address unemployment challenges, and tackle poverty for those at the base of the pyramid. Inclusive businesses will grow the level of economic activity in the economy. It is a sure route to equitable income redistribution from a region of higher economic temperature to a lower economic temperature.Unemployed persons willing and able to work will be engaged as enablers of inclusiveness, thereby assisting businesses in production, distribution and as consumers. The fee-for-service earned will better lots of the poor and vulnerable in society. Nigeria is in dire need of an inclusive business model. The economy is battling with rising poverty, stagflation and exchange rate shortage. Addressing these challenges would require businesses to redirect their business model to incorporate the poor in their value chain to scale, profit, while doing good.Inclusive businesses will support the government if only the public sector calls for collaboration. It sounds good but requires the government taking the centre stage in setting the pace to make inclusive business acceptable and sustainable. There should be incentives for inclusive businesses working to improve the standard of living for the poor in Nigeria. We believe for this to be feasible, government must create and support companies with funds to scale up and do more.Inclusive businesses should be adopted by the government to enjoy incentives like taxes, procurement patronage, and technical and managerial skills to appreciate their efforts. The government must do good to encourage good-doers. Business associations must encourage advocacy and transition to inclusive business models in Nigeria through their members. An inclusive business will yield a greater economic impact if a public-private partnership exists. The willingness and drive to address economic challenges like unemployment, huge income-gap and poverty is a task that requires a multi-facetted action and effort, according to Victor Alikor, an economist/policy analyst at the Nextier Group, in an earlier article.China is losing its place as the center of the world’s supply chains. Here are 5 places supply chains are going instead.December 27, 2022 by Huileng TanChina’s COVID policies are pushing companies to diversify supply chains away from the country.They had already begun moving out due to geopolitical tensions and tariffs from the Trump era.India, Vietnam, Thailand, Malaysia, and Bangladesh are stepping up to replace the world’s factory.China has been the factory of the world for the last 4 decades. The pandemic triggered a reckoning of this status.China’s draconian COVID-19 restrictions have hit global supply chains.Chen Shichuan/VCG/Getty ImagesGlobal manufacturing powerhouse China’s rise as the world’s factory spanned over four decades and ushered in an era of globalization and integrated supply chains.And the effects of the trade war continue to linger. President Joe Biden hasn’t kiboshed the elevated tariffs Trump imposed on China — in fact, in October, he imposed export controls on shipping equipment to Chinese-owned factories making advanced logic chips. This further burdened an already strained relationship. To navigate this complicated web of US-China trade tensions, multinationals are now more than ever, looking to hedge their business risks.India has vast lands, and a young population.Sajjad Hussain/AFP/Getty ImagesTech giant Apple, for one, has already moved some of its iPhone production to the Indian states of Tamil Nadu and Karnataka, and is exploring moving its iPad manufacturing to the South Asian nation as well. JP Morgan analysts expect Apple to move 5% of its iPhone 14 to India by the end of 2022, they wrote in a September note. They foresee that one in four iPhones will be made in India by 2025.India has a large labor pool, a long history of manufacturing, and government support for boosting industry and exports. Because of this, many are exploring whether Indian manufacturing is a viable alternative to China,” Julie Gerdeman, the CEO of supply chain risk management platform Everstream, told Insider.However, the move is easier said than done.But significant hurdles still exist — even though the Indian government is boosting its appeal to foreign investments, it’s still harder to do business in the country than in China, in part due to bureaucracy, red tape, and multiple stakeholders that prolong decision-making.Garment factory workers working in a factory in Hanoi, Vietnam.Manan Vatsyayana / AFPIn 2021, Vietnam attracted over $31.15 billion in foreign direct investment pledges — more than 9% higher from a year ago, according to the country’s Ministry of Planning and Investment. About 60% of the investments went to the manufacturing and processing sector.Vietnam’s key strengths are in the manufacturing of apparel, footwear, and electronics and electrical appliances.Aside from India, tech giant Apple has already moved some iPhone manufacturing to Vietnam and is also planning to move some of its MacBook production to the Southeast Asian nation.Thailand is a key auto and electronics manufacturing hub.Rachen Sageamsak/Xinhua/Getty ImagesIt’s not just international firms. Even China-based firms have relocated parts of their supply chain to Thailand. Companies producing solar panels such as Shanghai-based JinkoSolar are moving their production to Southeast Asian nation to take advantage of lower costs, and avoid gepolitical tensions, the South China Morning Post reported in July 2022.”Setting up manufacturing plants abroad didn’t come from [the pursuit of] opportunities, it is more of a strategy to deal with challenges to gain market access,” Zhuang Yan, the president of Canadian Solar, said at an industry event in July, the SCMP reported. Bangladesh is home to a huge garment manufacturing sector.Mustasinur Rahman Alvi/Eyepix Group/Future Publishing via Getty ImagesEven before the COVID-19 lockdowns crippled China’s manufacturing sector, Bangladesh has been a rising star in the garment manufacturing sector.Bangladesh’s rise was primary due to rising labor costs in China pre-dating Trump’s presidency.The cost difference is large — the average monthly salary of a worker in Bangladesh is $120 or less than one-fifth the $670 a factory worker takes home in the South China manufacturing hub of Guangzhou, Mostafiz Uddin, the owner of Bangladeshi apparel manufacturer Denim Expert, told Insider.Malaysia has been eyeing opportunities emerging from companies shifting away from China, for years.Malaysia’s FDI inflows hit a five-year high of $48.1 billion in 2021.Manan Vatsyayana/AFP/Getty ImagesHowever, even before the pandemic, tech investments into Malaysia had been rising due to lower labor costs and US-China trade tensions. Major deals over the last few years included a 1.5 billion Malaysian ringgit, or $339 million, investment by US chip giant Micron over five years starting from 2018. Jabil, a US company that makes iPhone covers, has also expanded its operations in Malaysia.”We knew quite a number that have expressed their intention to shift from China and we have engaged them. The only thing is timing,” Azman Mahmud, then CEO of Malaysian Investment Development Authority told the Malaysian Reserve media outlet in 2020.Malaysia’s FDI inflows hit a five-year high of $48.1 billion in 2021, with manufacturing the electronics and vehicles being the main contributor, according to official government information.
This article was originally published by Business Insider.