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.