Which of the following terms relates to the socioeconomic value delivered to communities?

Inclusive business refers to the approach of integrating low-income communities into the value chain as suppliers, distributors, and consumers. This concept is fundamentally about creating economic opportunities that enable marginalized groups to benefit from and contribute to the economy. It emphasizes the idea that businesses can generate profit while also addressing social issues, thereby delivering socioeconomic value to communities.

This term recognizes that businesses have a role to play beyond just generating profits for shareholders; they can also help alleviate poverty and promote overall community development. By involving and empowering low-income individuals and communities, inclusive business practices can lead to sustainable development and broader social impacts.

While corporate responsibility, social entrepreneurship, and philanthropy do relate to social value in various ways, they do not specifically encapsulate the concept of integrating the community into the business model to the same extent as inclusive business does. Corporate responsibility often focuses on ethical practices and compliance, social entrepreneurship aims at solving social issues through innovative solutions, and philanthropy typically involves donating resources or funds without necessarily integrating those communities into the economic engine of the business.