What does the term 'inclusive business' refer to?

The term 'inclusive business' refers to business models and strategies that aim to provide sustainable solutions and economic opportunities for low-income communities. This concept emphasizes the importance of integrating those at the base of the economic pyramid into the value chain, enabling them to participate as producers, suppliers, and consumers.

Inclusive businesses are designed to create social impact while also generating profit, thus addressing social issues such as poverty and inequality. They aim to do more than just generate income; they work towards improving the quality of life for individuals in disadvantaged communities by providing access to essential goods and services. This approach fosters economic growth and allows marginalized populations to engage in economic activities that can elevate their living standards.

The other options do not align with the definition of inclusive business. For instance, avoiding philanthropy does not directly relate to creating inclusive practices, and focusing solely on profits contradicts the fundamental principles of inclusivity by neglecting social responsibilities. Additionally, government-funded enterprises may not necessarily focus on inclusivity or sustainable solutions for low-income communities. Thus, the emphasis on sustainable solutions for low-income communities firmly establishes option C as the correct answer.