Meaning ● Inclusive Business Development, in the SMB context, signifies strategically expanding market reach by integrating marginalized groups (e.g., suppliers, distributors, customers) into the core value chain, thereby fostering equitable economic growth.
Scope ● Within Small and Medium-sized Businesses (SMBs), this strategy encompasses leveraging automation to streamline processes and implementation plans, ensuring participation from all stakeholders, regardless of socioeconomic status. ● This includes designing automation solutions that cater to diverse skill sets and providing training to facilitate effective use. ● Furthermore, successful implementation requires SMBs to adapt business models, integrating inclusive practices from product design to marketing, enhancing both profitability and societal impact. ● Careful consideration is given to supply chain optimization, favoring local, diverse suppliers where economically feasible to broaden community engagement.
