WEBVTT 1 00:00:00.868 --> 00:00:03.451 (upbeat music) 2 00:00:04.340 --> 00:00:08.020 At BCG, we've defined a bold vision 3 00:00:08.020 --> 00:00:11.283 to be the most positively impactful company in the world. 4 00:00:12.140 --> 00:00:15.540 And that means tackling humanity's toughest challenges 5 00:00:15.540 --> 00:00:18.830 in areas ranging from global development and global health 6 00:00:18.830 --> 00:00:21.290 to education, climate change, 7 00:00:21.290 --> 00:00:24.510 humanitarian crises, and diversity and inclusion. 8 00:00:24.510 --> 00:00:26.850 Our goals are based on the UN's 9 00:00:26.850 --> 00:00:29.270 Sustainable Development Goals. 10 00:00:29.270 --> 00:00:31.780 And, of course, not all of the world's challenges 11 00:00:31.780 --> 00:00:32.823 are created equally. 12 00:00:33.710 --> 00:00:37.520 Some can be addressed successfully through appropriately 13 00:00:37.520 --> 00:00:40.869 regulated private sector approaches where there are known 14 00:00:40.869 --> 00:00:43.420 and profitable solutions. 15 00:00:43.420 --> 00:00:46.460 When you can make social impact solutions profitable, 16 00:00:46.460 --> 00:00:48.320 they become scalable. 17 00:00:48.320 --> 00:00:51.063 And when they're scalable, they're even more powerful. 18 00:00:51.930 --> 00:00:54.970 Other challenges have known solutions, but they 19 00:00:54.970 --> 00:00:56.340 lack market incentives. 20 00:00:56.340 --> 00:00:59.630 They need funding where stakeholder ecosystems need to 21 00:00:59.630 --> 00:01:02.789 deliver impact in the absence of a profit. And still 22 00:01:02.789 --> 00:01:07.789 other challenges don't yet have known solutions. 23 00:01:07.800 --> 00:01:08.700 In those areas, 24 00:01:08.700 --> 00:01:12.053 we need bold innovation to overcome the issues. 25 00:01:13.190 --> 00:01:16.170 When seeking to surmount society's biggest problems 26 00:01:16.170 --> 00:01:18.730 serious constraints can get in the way. 27 00:01:18.730 --> 00:01:21.100 Lack of capital, political barriers, 28 00:01:21.100 --> 00:01:23.160 conflicting stakeholder priorities. 29 00:01:23.160 --> 00:01:25.580 These are just a few examples. 30 00:01:25.580 --> 00:01:28.540 BCG is uniquely positioned to help overcome 31 00:01:28.540 --> 00:01:31.030 such constraints, freeing up creative 32 00:01:31.030 --> 00:01:33.380 and passionate minds to craft solutions 33 00:01:33.380 --> 00:01:35.870 even to seemingly intractable problems. 34 00:01:35.870 --> 00:01:37.620 How are we able to do this? 35 00:01:37.620 --> 00:01:39.200 Thanks to our extensive experience 36 00:01:39.200 --> 00:01:42.140 in the social impact space, we bring a broad array 37 00:01:42.140 --> 00:01:44.640 of crucial strengths to every project. 38 00:01:44.640 --> 00:01:48.120 These include a global network of social impact experts, 39 00:01:48.120 --> 00:01:51.640 including presence in over 50 countries around the world; 40 00:01:51.640 --> 00:01:53.940 high-level cross-sector relationships, 41 00:01:53.940 --> 00:01:55.710 for example, we work with about half 42 00:01:55.710 --> 00:01:57.180 of our firm's largest clients 43 00:01:57.180 --> 00:02:00.730 on social impact topics; data and analytics tools to 44 00:02:00.730 --> 00:02:03.179 enable smarter decision-making; deep expertise 45 00:02:03.179 --> 00:02:07.150 in driving large-scale change; and a deep understanding 46 00:02:07.150 --> 00:02:11.150 of the ecosystem surrounding the SDG problem spaces. 47 00:02:11.150 --> 00:02:12.500 Even more important, 48 00:02:12.500 --> 00:02:15.350 BCG deploys these strengths simultaneously, acting 49 00:02:15.350 --> 00:02:18.130 as one team to create unparalleled impact. 50 00:02:18.130 --> 00:02:21.260 We know that catalyzing change requires an understanding 51 00:02:21.260 --> 00:02:22.900 of how it happens. 52 00:02:22.900 --> 00:02:25.260 And we've drawn on our extensive social impact 53 00:02:25.260 --> 00:02:27.368 work to develop the robust theory 54 00:02:27.368 --> 00:02:30.880 about how global challenges are best solved. 55 00:02:30.880 --> 00:02:32.230 Our theory of change holds that 56 00:02:32.230 --> 00:02:35.370 the most powerful way to solve global problems is enabled 57 00:02:35.370 --> 00:02:39.378 through appropriately regulated private sector approaches. 58 00:02:39.378 --> 00:02:42.230 With known solutions supported by market incentives, 59 00:02:42.230 --> 00:02:43.450 BCG partners with companies 60 00:02:43.450 --> 00:02:47.210 around the world to help them bring these solutions to life. 61 00:02:47.210 --> 00:02:49.630 With solutions lacking market incentive, 62 00:02:49.630 --> 00:02:52.120 we work with the public and social sectors to 63 00:02:52.120 --> 00:02:56.030 identify the most powerful levers for maximizing impact. 64 00:02:56.030 --> 00:02:58.750 And, we help them roll out these solutions at scale. 65 00:02:58.750 --> 00:03:01.250 Our theory thus holds that change can happen 66 00:03:01.250 --> 00:03:03.270 through two channels. 67 00:03:03.270 --> 00:03:05.700 First, it can be driven directly. 68 00:03:05.700 --> 00:03:07.620 For example, private sector actors 69 00:03:07.620 --> 00:03:10.390 deploy solutions that are profitable for them 70 00:03:10.390 --> 00:03:12.860 or public sector actors fund innovation 71 00:03:12.860 --> 00:03:15.773 and services such as education and healthcare. 72 00:03:16.660 --> 00:03:18.950 Second, change could be enabled. 73 00:03:18.950 --> 00:03:21.310 For instance, investors direct capital 74 00:03:21.310 --> 00:03:23.290 into companies showing strong environmental 75 00:03:23.290 --> 00:03:27.680 and social responsibility, or actors reshape the ecosystem 76 00:03:27.680 --> 00:03:31.260 by forging innovative cross-sector partnerships. 77 00:03:31.260 --> 00:03:34.750 Innovation powers both channels for change. 78 00:03:34.750 --> 00:03:36.840 An innovation is not just R&D 79 00:03:36.840 --> 00:03:39.070 aimed at solving specific problems. 80 00:03:39.070 --> 00:03:42.400 It's also fresh thinking about new business models, 81 00:03:42.400 --> 00:03:45.970 operating models, and partnership models that enable actors 82 00:03:45.970 --> 00:03:50.200 from all sectors to scale up the most impactful solutions. 83 00:03:50.200 --> 00:03:53.040 2020 has put social impact at the forefront. 84 00:03:53.040 --> 00:03:56.370 It's been a year of unparalleled impact for BCG. 85 00:03:56.370 --> 00:03:58.240 With 900 projects for more than 86 00:03:58.240 --> 00:04:00.413 500 clients on every continent. 87 00:04:01.420 --> 00:04:03.150 So, where do we go from here? 88 00:04:03.150 --> 00:04:04.720 We will continue to engage 89 00:04:04.720 --> 00:04:07.160 with partners who deliver tremendous social impact 90 00:04:07.160 --> 00:04:11.580 at scale, mobilizing our shared expertise to solve some 91 00:04:11.580 --> 00:04:13.770 of the world's most pressing challenges 92 00:04:13.770 --> 00:04:18.440 in global development, global health, education 93 00:04:18.440 --> 00:04:21.545 climate change, humanitarian crises, 94 00:04:21.545 --> 00:04:23.033 and diversity and inclusion. 95 00:04:23.990 --> 00:04:26.573 (upbeat music)