Abstract
In 2005 Anant Kumar was travelling to hospitals around India, conducting market research for his employer, Hindustan Latex Limited (currently HLL Lifecare), a top global manufacturer of condoms (BCTA, LifeSpring Hospitals: providing affordable, quality health care. Case study. Business call to action, 2010). As his research progressed, Kumar began to recognise some disconcerting trends. The women he spoke with were dissatisfied with the lack of transparency, quality, and service experienced at the free public hospitals, yet private hospitals were largely unaffordable. A significant portion of women were so frustrated that they opted to sell assets or take out loans to finance visits to private hospitals. Recognising a clear social need and a market gap, Kumar convinced HLL to finance a maternity clinic aimed at providing high-quality yet affordable healthcare to low-income mothers and children in Hyderabad’s urban slums. By cutting costs through specialisation and innovative processes, LifeSprings Hospitals, with Kumar as CEO, began successfully applying its business acumen to an underserviced area of health care in India.
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Notes
- 1.
Around two-thirds of the companies supported by the Business Innovation Facility, a UKAID programme aimed at promoting the development of IB models, are domiciled in the focus countries of Bangladesh, India, Malawi, Nigeria, and Zambia.
- 2.
Social profit refers to the positive social gains accrued by an initiative or investment.
- 3.
A social license to operate can be defined as the informal consent or approval of local stakeholders for a specific project.
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Scholl, J. (2013). Inclusive Business Models as a Key Driver for Social Innovation. In: Osburg, T., Schmidpeter, R. (eds) Social Innovation. CSR, Sustainability, Ethics & Governance. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-36540-9_9
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