2 SDG 1 – No Poverty – Team 2

Team Reflection

During the Winter 2024 COIL cohort, our group consisted of two members each from Canada, Iraq, and Kenya. Our different cultural and diverse backgrounds allowed for many various perspectives to be shared throughout this assignment. We were assigned to further explore the first Sustainable Development Goal (SDG), which is focused on ending poverty in all its forms everywhere (United Nations, n.d.). The term poverty is defined as being a state in which one lacks a socially acceptable amount of money or materialistic possessions, in which one is unable to satisfy their basic needs (Encyclopædia Britannica, Inc., 2024). This is a global concern and sustainable actions are being pursued in an effort to combat poverty. Throughout this assignment, our group analyzed how various businesses had strategies that gave them a competitive advantage while supporting different methods of eliminating poverty.

The first article we analyzed was called Shared Prosperity of Women Micro and Small Medium-Entrepreneurs (MSME) in Rural Areas in Indonesia, which was about a financial technology company called Amartha (Aroean, n.d.). Their aim was to empower female micro-entrepreneurs in rural Indonesia, through educating their financial literacy and technology skills. They were offered access to resources that would help them to rise above the poverty level. This impacts a woman’s family and community, allowing other females to obtain leadership experience, excel through their skill set, and feel empowered (Aroean, n.d.). The concept of empowering female leaders in rural areas can be beneficial to impact global sustainability in the future. More initiatives can be launched in other rural areas throughout the world, which are facing similar challenges, in an effort to allow for more women to become entrepreneurs and ultimately allow for a reduction in poverty levels. We believe that if women have access to a financial literacy education, and resources to empower and build their confidence in starting businesses, then they will contribute greatly to the micro-economies in their areas, and work together to slowly bring entire communities out of poverty. A similar company which focuses on financial literacy and education programs is Legacy Planning Solutions (Padilla, n.d.). They provide education on financial literacy, debt minimization and wealth maximization to families. They also help families minimize their taxes and improve cash flow. Rick Paray and John Saccente co founded Legacy Planning Solutions to fill the gap of Financial Literacy which exists in society as many people struggle maintaining their finances (Padilla, n.d.). We think that this is a very viable and important innovation as the problem of lack of financial literacy exists in almost all the countries in the world. People need to keep their finances in check so as to avoid future constraints that come with increased debt and the rising levels of inflation. We also believe that this model should be replicated in many if not all countries as it has yielded positive results improving the overall well-being of the society, thus contributing a piece of the solution to eliminate poverty. Seeing the multitude of companies which focus on financial literacy, and the great impact this knowledge can have on every type of person, we hope that schools will begin teaching financial literacy sooner, and it becomes a basic part of all curriculums across the world to prevent financial problems from happening in the first place. As a finance student, and someone who is still finding their path, seeing the impact of basic financial literacy programs and the positive impact finance can have on the world, inspires me to find my own way to create an impact like this from my education.

Another business innovation that we looked into is Kitovu, which is a Nigerian-based tech innovation that aims at enabling responsible consumption and production (Tung, et.al, n.d.). This innovation aims at creating demand-based data to help in farmers decision making based on their output. It helps to ask the question of what to grow, how to grow it and who to sell it to, hence leading to effective and efficient farming (Tung, et.al, n.d.). We believe that this business innovation is centered at improving the social good of individuals involved since it creates financial opportunities for individuals involved; thus improving their financial status and helping in combating the goal of eliminating poverty, specifically with the farmers. Another business we were intrigued by was one that promotes the progress of farmers and their families (Bautista, n.d.). The business innovation has a direct attention on reducing the chain that exists between farmers and the final consumer, having said that a lot of farmers live in poverty due to this issue. Therefore this business innovation connects the farmers with the buyers as a consequence of shortening the food supply chain (Bautista, n.d.).

Another business innovation that we walked through was Giving back in a Sweet Way, a business owned by a female, who not only has a wonderful bakery, but is distinguished for offering food donations to her local homeless people who are in need (Sosa, et.al, n.d). In the times when her orders are left unclaimed, she uses the opportunity to donate the food. This business innovation can reduce poverty as well as food waste. The use of the customization allows for a reduction in waste, and any canceled orders are donated to the local homeless population (Sosa, et.al, n.d). This shows that small businesses can have a sustainable impact on the environment, and help to benefit the world socially. We agreed that in the future, more food related businesses should aim to donate their leftover products at the end of the day to a community initiative. We discussed how this relates to the Triple Bottom Line concept (Jonker, 2023), which is something that we were able to connect with the content we had learned in our courses. While so much in business is focused on profit, and many companies’ main excuse for not being socially responsible is the cost, this is a wonderful low-cost way to do good in the world, without sacrificing profit.

In our previous knowledge we had always considered business innovations accountable for making profits, however after this persuasive activity we all agree on differing that point of view. We believe that business outcomes cannot be measured by just the financial bottom line. Instead, they must also consider the well-being of people, the planet, and profit (3 P’s) (Jonker, 2023). A business model that considers these 3 P’s can help organizations as they pursue corporate social responsibility (CSR). CSR increases awareness of an organization’s sustainable practices and initiatives that contribute to the well-being of society. The business innovations that we have covered in this practice have benefited society in many different ways for instance helping entrepreneurs, people who are at risk, increasing employment opportunities for women, helping families get out of debt and reach their wealth goals, creating demand-based data for farmers, empowering clients to do their own financial planning, financially helping farmers, reducing the waste of food, product, and supplies, food donation etc. are all the beneficial examples we learned from the stories through the process of this venture. The gaps we discussed are that there is no innovation with 1 specific objective. Although it may seem as a disadvantage in working on the United Nations Sustainable Development Goals, it has a positive impact in the sense that one innovation can serve multiple functions and help solve multiple problems in the society. Focusing on the Sustainable Development Goal of poverty is not enough because it is dependent on other sustainable goals and correlates with each other. The AIM2flourish stories have had a great influence on the sum of our group. It also broadened our point of view. In the future if we ever start a new business, we will definitely consider the wellness of people and the planet. We think that business innovations should not be measured by just the financial substances. In conclusion when making a new business we want to contemplate the possibilities of how it could benefit people, planet, and profit.

Since our group members live in various places throughout the world, we learned to adapt our mindsets and communication styles to accommodate and work with people from various backgrounds. Our group’s primary form of communication was through a group chat that was made on WhatsApp, along with our weekly Zoom meetings. Finding a time to conduct these meetings was difficult at first, since there were barriers between different time zones and we had to arrange this based on the schedules of six people. We ultimately agreed upon a time in which it was afternoon in Canada, and late evening in Kenya and Iraq. Before our meetings, we would send out a reminder text to the group chat, and we found that this consistent communication was an important asset in ensuring that as many members as possible attended the meetings. When we met with our team virtually, we discussed the content for the week and distributed tasks for each group member. To make matters easier, sometimes a Google Doc was shared with the group in advance of the meeting, to assign reading materials and tasks for each member. The use of this strategy allowed for better communication during our Zoom calls. It was interesting to learn about various cultural perspectives relating to SDG1. Our group gained a deeper insight into the participation of a global activity and how to manage time and strategy on working with a team from different cultural backgrounds. We have also learned about many different constructive innovation and business ideas, which can hopefully result to benefit us in the future.

Individual Reflections

Devon
I thought this activity was an incredible experience and I’m grateful I got to be a part of it. I thought language and time zones would be more of a challenge, but everyone’s English was amazing, and the group was so accommodating for meeting times. The 7 / 8 hour time difference could’ve been very difficult, but everyone was so willing to figure out a time that worked best, and almost always everyone showed up. I took the chance to thoroughly understand each week’s assignment before our meetings so I could help lead the group and answer any questions. We would facilitate a period to discuss and divide up the assignments, followed by time for everyone to complete the work while still being on the call so we could help each other out. I believe this was one of the many reasons for our success, and I am grateful for the opportunity to work with this team.

Shava
This project has already been the greatest experience of my year. I made new friends and learned a lot from them. I loved my team and energy. It all went very smoothly and easygoing. I thought we would have a lot of trouble with the different time zones, but hopefully, we managed to find the right timings for every week, and it was very convenient for me and my teammates. Of course, not everyone can make it every time, regardless of that. As teammates, we made sure they did not miss out on anything. I learned about many new different business innovations and how they started as well as how they impact the world. Everyone in my team was very efficient when it came down to getting the work done. I was very lucky to be in this team. Irrespective of having different backgrounds and traditions, we got along effortlessly. I am very glad I joined the coil project and to be a part of this. It was very exciting to meet new people and to see how beautiful the world is as we collaborate and get together.

Kajyan
As one of the members in Team2 at first, I felt kind of anxious and thought that sort of activity will waste my time and energy but later on after joining the online meeting all my worries went away and I thought I will definitely learn one or two from this activity. The other members were nice and really helpful, the assignments were easy to get them done, overall, it was quite fun. As for cross-cultural dynamics, I didn’t find such a thing while meeting and talking with the members from outside my country. Communicating with the group members was fine and there weren’t any language barriers, I understood them quite well. Dealing with multiple time zones was quite challenging since the meeting time in my country was night but in the other country was day but that couldn’t stop us from meeting up and talking about the assignments and our ideas. I have to say working with my group was really fun and an amazing experience, knowing them was nice and if I get the chance to work with them again, I will do it without hesitation.

Works Cited

Aroean, M. (n.d.). Shared prosperity of women micro and small medium-entrepreneur (MSME)… AIM2Flourish. https://aim2flourish.com/innovations/shared-prosperity-of-women-micro-and-small-medium-entrepreneur-msme-in-rural-area-in-indonesia
Bautista, E., & Otálora, C. L. B. (n.d.). Promoting the progress of farmers and their families / promoviendo el… AIM2Flourish. https://aim2flourish.com/innovations/promoting-the-progress-of-farmers-and-their-families-promoviendo-el-progreso-de-los-agricultores-y-sus-familias
Encyclopædia Britannica, inc. (2024, March 26). Poverty. Encyclopædia Britannica. https://www.britannica.com/topic/poverty
Jonker, A. (2023, December 1). What is the triple bottom line (TBL)?. IBM. https://www.ibm.com/topics/triple-bottom-line
Padilla, M., Paray, P., & Martelli, L. (n.d.). The path to financial wellness & security. AIM2Flourish. https://aim2flourish.com/innovations/the-path-to-financial-wellness-security-1
Pecajas, C. S., & Añonuevo, S. A. (n.d.). Empowering Filipino at-risk young adults while caring for the… AIM2Flourish. https://aim2flourish.com/innovations/empowering-filipino-at-risk-young-adults-while-caring-for-the-environment
Sosa, P., Wallace, A., & Thompson, A. (n.d.). Giving back in a Sweet Way. AIM2Flourish. https://aim2flourish.com/innovations/giving-back-in-a-sweet-way-3
Tung, R., & Akanbi, S. T. (n.d.). Innovative Agricultural Advisor in Nigeria. AIM2Flourish. http://aim2flourish.com/innovations/innovative-agricultural-advisor-in-nigeria
United Nations. (n.d.). Goal 1 | Department of Economic and Social Affairs. United Nations. https://sdgs.un.org/goals/goal1