Arab Today, arab today toms thrives mixing business with social good
Last Updated : GMT 18:57:27
Arab Today, arab today
Arab Today, arab today

Toms thrives mixing business with social good

Arab Today, arab today

Arab Today, arab today Toms thrives mixing business with social good

Vancouver - AFP

From putting shoes on poor children's feet to providing Internet from balloons in the sky, Internet Age companies are catching on to the power of mixing business with social good. TOMS founder Blake Mycoskie championed the idea at a prestigious TED conference, adding coffee to the "one-for-one" model for which his California firm is known. The serial entrepreneur was traveling when an encounter with women in Argentina led to him join them on a charity outing to give closed-toe shoes to poor children barred from getting into school without proper footwear. The experience inspired him to launch TOMS nearly seven years ago to sell shoes that come with a promise that for each pair bought, a pair is given to a child in need. Mycoskie ran the business out of his apartment, as a sideline, for months until TOMS became a fashion industry sensation; stores began ringing him up and "we were in the shoe business." He added eyewear to his line-up, donating sight-saving medical treatment for each pair of glasses sold. - Internet in the sky - TOMS Coffee Roasting Company, launched this month, applies the premise to beans, guaranteeing 140 liters of clean water to a person in need for each bag sold. TOMS partnered with non-profit Water For People on the project. "The Internet and technology allow the concept of not having to be a Rockefeller to make a difference in the world," Mycoskie told AFP on Thursday at a TED gathering where he was serving up coffee. A day earlier, on the TED stage, Google co-founder Larry Page opined on how passionate entrepreneurs could be more effective than charities in tackling social woes. "Most people think companies are basically evil," Page said during an interview with Charlie Rose. "That is not what we need, especially in technology; we need change." Google's Loon project envisioning free Wi-Fi hot-spots in high-altitude balloons provides hope for the "two-thirds of the world that don't have Internet," Page said. Facebook creator Mark Zuckerberg, and Salesforce.com leader Marc Benioff, are among Silicon Valley titans standing up for the idea that company's can make money while making the world a better place. Tesla founder Elon Musk has a vision of human colonies on Mars, a mission he is in a stronger position to take on than a charity, both Page and Mycoskie reasoned. "There is a great advantage to being a for-profit business tied to a mission and a purpose," the TOMS founder said. "We can use our profits to go after different causes." The Internet has helped people of all ages tune into global issues and allowed them to check whether companies follow through on vows for social good. For example, people can go online to see where TOMS water wells spring up. "TOMS is transforming an act as simple as buying a pound of coffee into a way for shoppers to make a meaningful impact in communities around the world," said John Mackey, co-founder of Whole Food Market chain, which carries the coffee. - Good deeds beat ads - Mycoskie was adamant that integrating social causes into business models attracts passionate, talented employees and inspires loyalty in customers, both of which are boons to company bottom lines. "Everyone thinks giving one-for-one is a cost," Mycoskie said, gazing out at snow-capped mountains on the edge of Vancouver. "I would argue that over the past seven-plus years the money we have spent on giving has resulted in a higher return on investment than any marketing we could ever do." Mycoskie is considering the potential of extending the one-for-one model to banking, channeling portions of profits to micro-loans in developing countries. He agreed that mixing social good with old-fashioned business was spreading, but stopped short of proclaiming it a trend. "Whether it will last a long time in a higher consciousness of business and consumerism, I don't know," Mycoskie said. "I do think that people are innately interested in dealing with companies that are socially good in their actions, and loyal customers are what businesses live on."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today toms thrives mixing business with social good Arab Today, arab today toms thrives mixing business with social good

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday