Corporate philanthropy at work: U2 can move the world (A): Finding a cause

Nespresso, the global leading brand in portioned coffee, is facing an existential threat. The company’s current market base, which consists primarily of aging consumers, is likely to decline in the medium to long term. To compensate for the certain shortfall, the company needs to attract young coffee drinkers among Millennials and Generation Z, whose consumption and values are significantly different from the current base. Management is being forced to reset its historically successful strategy for a new era when today’s young consumers will soon account for the bulk of the global coffee market.

The case describes IKEA’s new approach to making an impact through IKEA Belgium’s “Welcome Home Project,” dedicated to assisting single-parent families. The idea for the program came about during a cross-functional brainstorming session and initially involved donating funds and furniture to centers and shelters supporting such families. The project evolved to engage IKEA co-workers who volunteered their expertise during working hours to help set up housing and shelters. Another dimension was added as the initiative gained momentum and IKEA began collaborating with numerous social welfare organizations, collectively working towards policy changes intended to create a fairer and more supportive environment for single-parent families. While the program achieved remarkable results, the journey was not without its share of challenges. Transitioning from traditional donations to more innovative collaborative approaches required courage, and the team encountered resistance and skepticism along the way. Some of the social welfare organizations questioned the authenticity of IKEA’s motives, sometimes assuming economic self-interest instead of altruism. Collaboration with organizations that were so fundamentally different from IKEA required perseverance. Despite the enthusiasm of the IKEA co-workers who volunteered to support the social welfare organizations, internal communication efforts to raise awareness about the program proved to be an ongoing challenge. Recognizing the potential for international inspiration, IKEA considered sharing insights within its network. Simultaneously, the local team contemplated the next steps for IKEA Belgium, aware of the potential for further impact.

The link between missed carbon emissions targets and human rights was made this week as a group of Swiss women won a landmark case against their go...

Family businesses often have not only financial wealth but also nonfinancial values that make them different from nonfamily companies. For instance...

Criticisms of artificial intelligence’s impact on sustainability are justified, says IMD’s Tomoko Yokoi, but there are important steps that technol...

IMD produces a yearly Smart City Index offering a balanced focus on economic and technological aspects of smart cities on the one hand, and “humane...

Organizations are facing increasingly demanding challenges, from soaring materials costs to new geopolitical risks and perpetual supply chain insta...

Being too ambitious with sustainability targets can lead to dire consequences. Here are five strategies for leaders to ensure success without riski...

Three lessons from a business that is pioneering an environmentally and socially sustainable approach to coconut farming.

Introducing a platform-based economic system that promotes prosocial behavior can help society overcome its greatest challenges, argues Dovev Lavie