Corporate leaders pursuing purpose and profits want objective measures to be able to manage against, and be efficient as they respond to poverty within their companies. The Business Multidimensional Poverty Index (bMPI), developed within the Oxford University, is a new tool for company information systems, to help align corporate values and operations. Horizonte Positivo, a Costa Rican business led non-profit, has pioneered the development of the bMPI with over 30 companies and shown it to be both effective and inspiring for employees and managers.
The bMPI began in 2017 when the Chairman of BAC Credomatic Bank, Costa Rica, Ernesto Castegnaro, asked if there might be any multidimensional poverty among people working in the bank, and a survey revealed that significant share of the employees lived in poor households.
We are particularly proud of our initiatives to eradicate poverty within our staff and reduce it significantly in our country. BAC Credomatic was the first bank in the world to apply Oxford’s Multidimensional Poverty Index with its staff, identifying that 12 percent of them were living under poverty conditions. BAC Possibilities is a program designed by the bank to eradicate poverty within its staff. It consists of subsidized loans—supported by donations from its own managers; psychological support; financial coaching; and a care network for elderly, disabled or very young family members. The bank hopes that this program will be exported to its corporate clients so that they, in turn, can eradicate poverty within their staffs and have significant impacts on the financial wellbeing of the country’s population.
Federico Odio, Country Manager, BAC Credomatic, February 2019
"Purdy Motor Group has maintained itself over time as a great leader because, from the beginning, our organisation detected that the most important asset is the human talent of the Purdy People. Through the implementation of Business Multidimensional Poverty Index we have managed to know the family situations of our employees and thus be able to develop different projects dedicated to improving their quality of life from an integral perspective. The responsible entrepreneur is anyone who understands the impact that their operation has on the community, on the environment and mainly on their people. That is why I want to invite the representatives of the private sector to use the Business Multidimensional Poverty Index as a tool that will allow them to focus on what will really provide a long-term benefit for your employees and their families."
Javier Quirós, President Grupo Purdy Motor, Toyota Dealer Costa Rica.
sOPHIa Oxford is Oxford University’s first social venture spin-out.
sOPHIa Oxford has the exclusive worldwide licence from Oxford University Innovation to the Business Multidimensional Poverty Index (bMPI), developed by OPHI using the Alkire-Foster method.
The bMPI is a tool for private enterprises to measure and tackle poverty amongst their employees and their families, their contractors, suppliers and supply chains.
sOPHIa Oxford is licensing OPHI’s know-how to business groups, and is establishing an internationally recognized benchmark for corporate good practice in reducing poverty among the workforce. This supports effective socially responsible management, objective measures to improve the well-being of workforces, especially in emerging economies, and lowers reputation risk.
In 2007 Sabina Alkire and John Hammock created the Oxford Poverty and Human Development Initiative (OPHI), an economic research and policy centre within the Oxford Department of International Development at the University of Oxford, ‘to do poverty research that shaped action’, building on Amartya Sen’s work. Sabina Alkire, together with James Foster, created a new framework for measuring poverty in its many dimensions – the Alkire Foster method. This method is unique in that it measures, not just who is poor, but also how people are poor, what are their specific deprivations, which affords insight into where action can be specifically focused to alleviate poverty and deprivation.
OPHI now works with over 55 countries on more effective poverty measurement efforts at the national level.
Horizonte Positivo pioneered the development of the bMPI in Costa Rica. Visit their website to learn about to implement the bMPI
Oxford University Innovation is a wholly-owned subsidiary of the University of Oxford that manages the University’s technology transfer and consulting activities. It has supported the formation of sOPHIa Oxford, Oxford University's first social venture spin-out.
Copyright © 2019 sOPHIa OXFORD - All Rights Reserved.