Week 3: Making Money for Good

FIGS

"Threads for Threads is our initiative - created to promote global education and inspire children to realize their dreams.For every tie sold, FIGS gives an entire school uniform to a child in need of an education – Threads for Threads."  http://www.wearfigs.com/

In many parts of Africa the children can’t go to school if they don’t have a uniform. This company  partners globally with local weavers and tailors to make uniforms for their school communities. The uniforms are distributed in a hundred plus Eastern African schools including Kenya and Tanzania. The FIGS ties are made of high quality silks, cashmeres, wool, and linen. One Tie=One Uniform= One Education according to FIGS.

"Approximately one billion people don’t have access to affordable glasses. Glasses can increase one’s income by 20%, enable students to see a blackboard and offer dignity to those with poor eyesight. Warby Parker works with experienced non-profit partners to ensure that each sale of our frames will give someone in need access to affordable glasses." http://www.warbyparker.com/Do-Good

I wasn't awair of the impact glasses can have on peoples productivity resulting by 20%.

It is equivalent of creating an extra day’s work each week according to this article. Glasses are one of the most effective poverty alleviation tools in the world. 

 

"Cause-Related Marketing. To exercise their social responsibility and build more positive images, many companies are now linking themselves to worthwhile causes." (Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation.) Page 86

Some examples are if you buy a pink mixer from KitchenAid that it will support breast cancer research. Another example would be if you purchase Ethos water from Starbucks that it will help bring clean water to children around the world. Some companies have been founded entirely on cause-related missions. They have the concept of “value-led business” or “caring capitalism,” their mission is to use business to make the world a better place."