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At BCG, we've defined a bold vision
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to be the most positively impactful company in the world.
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And that means tackling humanity's toughest challenges
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in areas ranging from global development and global health
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to education, climate change,
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humanitarian crises, and diversity and inclusion.
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Our goals are based on the UN's
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Sustainable Development Goals.
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And, of course, not all of the world's challenges
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are created equally.
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Some can be addressed successfully through appropriately
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regulated private sector approaches where there are known
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and profitable solutions.
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When you can make social impact solutions profitable,
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they become scalable.
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And when they're scalable, they're even more powerful.
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Other challenges have known solutions, but they
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lack market incentives.
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They need funding where stakeholder ecosystems need to
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deliver impact in the absence of a profit. And still
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other challenges don't yet have known solutions.
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In those areas,
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we need bold innovation to overcome the issues.
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When seeking to surmount society's biggest problems
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serious constraints can get in the way.
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Lack of capital, political barriers,
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conflicting stakeholder priorities.
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These are just a few examples.
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BCG is uniquely positioned to help overcome
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such constraints, freeing up creative
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and passionate minds to craft solutions
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even to seemingly intractable problems.
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How are we able to do this?
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Thanks to our extensive experience
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in the social impact space, we bring a broad array
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of crucial strengths to every project.
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These include a global network of social impact experts,
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including presence in over 50 countries around the world;
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high-level cross-sector relationships,
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for example, we work with about half
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of our firm's largest clients
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on social impact topics; data and analytics tools to
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enable smarter decision-making; deep expertise
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in driving large-scale change; and a deep understanding
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of the ecosystem surrounding the SDG problem spaces.
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Even more important,
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BCG deploys these strengths simultaneously, acting
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as one team to create unparalleled impact.
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We know that catalyzing change requires an understanding
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of how it happens.
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And we've drawn on our extensive social impact
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work to develop the robust theory
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about how global challenges are best solved.
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Our theory of change holds that
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the most powerful way to solve global problems is enabled
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through appropriately regulated private sector approaches.
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With known solutions supported by market incentives,
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BCG partners with companies
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around the world to help them bring these solutions to life.
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With solutions lacking market incentive,
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we work with the public and social sectors to
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identify the most powerful levers for maximizing impact.
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And, we help them roll out these solutions at scale.
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Our theory thus holds that change can happen
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through two channels.
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First, it can be driven directly.
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For example, private sector actors
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deploy solutions that are profitable for them
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or public sector actors fund innovation
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and services such as education and healthcare.
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Second, change could be enabled.
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For instance, investors direct capital
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into companies showing strong environmental
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and social responsibility, or actors reshape the ecosystem
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by forging innovative cross-sector partnerships.
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Innovation powers both channels for change.
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An innovation is not just R&D
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aimed at solving specific problems.
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It's also fresh thinking about new business models,
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operating models, and partnership models that enable actors
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from all sectors to scale up the most impactful solutions.
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2020 has put social impact at the forefront.
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It's been a year of unparalleled impact for BCG.
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With 900 projects for more than
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500 clients on every continent.
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So, where do we go from here?
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We will continue to engage
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with partners who deliver tremendous social impact
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at scale, mobilizing our shared expertise to solve some
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of the world's most pressing challenges
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in global development, global health, education
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climate change, humanitarian crises,
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and diversity and inclusion.
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