FSG is a nonprofit consulting firm specializing in strategy, evaluation, and research. The firm was founded in 2000 as Foundation Strategy Group by Harvard Business School Professor Michael E. Porter and Harvard Kennedy School Senior Fellow, Mark Kramer. Today, FSG works across sectors in every region of the world—partnering with corporations, foundations, nonprofits, and governments to develop more effective solutions to the world’s most challenging issues. FSG’s ideas are frequently published in journals such as Forbes, Harvard Business Review and Stanford Social Innovation Review.
GE and Embrace bring very different and unique strengths to the alliance. Like most social enterprises, Embrace, unencumbered by a legacy product line was able to develop a disruptive solution to the problem. Further, it had the ability to quickly adapt and improve its design based on market inputs. GE on the other hand, brought very different strengths to the partnership. Its experience in healthcare regulatory requirements enabled it to turn a neat solution into something that was market-ready. This coupled with its awesome depth and breadth of market access as well as marketing prowess ensured the solution would reach the greatest number of population in need – far more than Embrace alone would have been able to reach.
In short, together, GE and Embrace will be able to capitalise on the opportunity in ways neither would have been able to on their own. It is the ultimate 'win-win' alliance – a match made in heaven. Both parties are quick to point out, however, that it takes hard work to make such alliances successful. The speed of progress can seem painfully slow to social enterprises which are used to moving quickly. On the other hand, social enterprises can seem lacking in structure and organisation as compared to a large corporation. However, with enough trust, it is possible to make such alliances work as GE and Embrace have demonstrated.
What is your experience with such alliances? We invite you to share what you see as the benefits and challenges of such alliances.
By Lalitha Vaidyanathan, FSG Managing Director (Lalitha leads FSG’s efforts in India. She has advised a variety of clients while at FSG including corporations, private foundations, multilaterals, government community foundations, and nonprofits. Her clients in India include the Godrej Group, the Shakti Sustainable Energy Foundation, UN Women, The World Bank, and Eli Lilly)