Chivas Regal survey reveals big businesses are expected to shape a better world

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KUALA LUMPUR (Oct 11): Three quarters of the world’s population expect big businesses to tackle the world problems of the future, according to a global survey by luxury whisky Chivas Regal released yesterday.

The survey, which gathered views from 11,349  people across 10 countries, was released to mark the launch of the third year of Chivas The Venture, which is a global search to find and reward high potential startups that use business to positively impact the world. Chivas Regal had recently launched The Venture in Malaysia for the first time.

"Chivas Regal supports this belief that big businesses should be doing what they can to drive positive change," it said in a statement.the

The survey also found that an overwhelming number of respondents feel that businesses need  to  work  harder; supporting Chivas’  belief  that  people  want  to  back  brands  and  companies  that  focus  not  only  on  their  own  financial success, but also on creating a positive impact on the wider world.

"Interestingly,  outside  of  business,  opinions  among  countries  surveyed  differ  as  to  what  other  areas  of society  may  be  responsible  for  a  better  future. Individual  entrepreneurs,  investors,  governments  and members  of  the  public  were  all  proposed  as  alternative  areas  that  are  key  to  driving  change," said Chivas Regal.

"Nigeria  holds entrepreneurs  and  inventors  most  accountable  for  improving  the  future  of  their  country,  while  Thailand  put the onus on members of the public to make a difference," it noted.

When asked which sectors had the most potential to change the world for the better, 70% of survey respondents agreed that education had an important role to play, while healthcare came a close second with 60%.

"Education plays a critical role in raising awareness around social issues, and it is one of the driving forces behind the rise of socially-conscious business," said Chivas Regal.

"The  results  from  the  Chivas  research  highlight  a  number  of  trends  that  have  surfaced  in  our  work here at the Beeck Centre. It shows that Millennials and Gen Z are hungry, motivated and inspired to positively impact the world. Second, young people believe that business also has a social responsibility not just government," said Beeck Centre for Social Impact and Innovation founding executive director Sonal Shah.

"As the world continues to become increasingly networked and collaborative, we have  an  opportunity  to  shape  it  -  building  cross-sector  solutions  to  our  most  pressing  social  and environmental challenges."

Since Chivas The Venture was launched in 2014, over 3,500 social enterprises have applied for the chance to receive a share of the annual US$1 million fund. This year, 32 countries across six continents will be taking part; only the most promising from each country will be selected as a global finalist for the chance to take part in an Accelerator Week programme and travel to the US for the final event in July 2017.

“Promoting  business  as  a  force  for  good  is  a  priority  for  Chivas  Regal.  There  is  a  clear  and  growing desire around the world for change; people want to support and associate themselves with companies that  are  doing  more  than  just  making  money," said Chivas Regal global brand director Richard Black.

Since  its  launch  in  2014,  Chivas  The  Venture  has already given US$2 million of funding to aspiring businesses from Chile to Japan, and impacted over 200,000 lives.

Applications  for  The  Venture  Malaysia  are  now  open  and  will  close  on Nov 15. Five  shortlisted finalists  will  then  pitch  to  the  Malaysian  jury  for  a  chance  to  represent  Malaysia  in  the  Global  Finals  of  The Venture,  competing  to  win  a  portion  from  a  prize  pool  of  over  US$1  million  in  funding  and  resources. 

MEASURING THE VENTURE ALUMNI'S POSITIVE IMPACT