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In This Issue
Editor's Note
Emerging Economies Shape a New Reality for Business
It's notable, but perhaps not surprising, that all three items in this week's issue pertain to emerging and developing economies—and the implications that trends there have for global business.
In our feature article, BSR's China Director Wei Dong Zhou discusses huge changes sweeping across China as a new generation of workers aspires to more than just higher wages and better working conditions in a country that no longer wants to be "the sweatshop of the world."
We also look at results from the latest Edelman goodpurpose® study, which found that consumers in Brazil, China, India, and Mexico are more likely than their counterparts in the West to purchase and promote brands that support good causes.
Finally, we give a brief overview of some key messages from a new UN report that recommends transitioning to "climate-smart agriculture" in developing countries to meet the global challenge of food security and respond to climate change.
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In Depth
Doing Business With China’s New Generation of Workers
By
BSR's China Director Wei Dong Zhou discusses how the new generation of workers in China is transforming the labor landscape and the implications for global companies, consumers, and 800 million workers in a country that no longer wants to be "the sweatshop of the world."
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Toolbox
Transitioning to Climate-Smart Agriculture
According to a new report by the UN Food and Agriculture Organization, agriculture in developing countries must be transformed in order to meet the global challenge of food security and respond to climate change. Key technical, institutional, policy, and financial responses are needed to establish climate-smart systems throughout the agricultural sector.
Key messages from the report include:
- An ecosystem approach to agriculture—which requires working at the landscape level and coordinating among sectors—is required to implement climate-smart systems in developing countries. Additional investments are needed to close knowledge and technology gaps and produce higher-yielding and more resilient crop varietals.
- Small farmers need institutional and financial support to make this transition. Additionally, better ways of disseminating information and coordinating over large areas and among many farmers are needed. Lastly, policies related to agriculture, food security, and climate change need to be consistent across regional, national, and international levels.
- This transition requires financing from both private and public sources, and effective financing mechanisms need to take sector-specific considerations into account.
Quick Hit
Social Purpose Drives Consumers' Purchasing Decisions
By Elissa Goldenberg, Associate, Advisory Services, BSR
According to the fourth annual Edelman goodpurpose® study, social purpose is more important than design and innovation or brand loyalty as a purchase trigger when quality and price are the same (see graph below). The survey—conducted annually in 13 countries among more than 7,000 adults—explores consumer attitudes around social purpose, including their commitment to specific social issues and their expectations of companies. Social purpose, according to the survey, is critical to marketing because it allows companies to engage with consumers on a deeper level.
The survey also revealed that despite the recession, 66 percent of global consumers are likely to buy and recommend products and services from companies that support a good cause. Additionally, 86 percent of global consumers believe that business should place an equal weight on society’s interests as on those of business.
For more information about these and other findings, visit www.goodpurposecommunity.com.
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