Business 10th Edition by Ferrell,Geoffrey Hirt,Linda Ferrell

Exercise 4

Deloitte Partners with New Profit Inc. to Drive Social Innovation
Deloitte LLP is one of the largest consulting firms in the world, specializing in financial advisory, risk management, and audit and tax services. The organization has a far-reaching reputation for being one of the most philanthropic firms in the world. It is therefore no surprise that it has established a multimillion- dollar partnership with New Profit Inc. to promote and support social innovation initiatives.
New Profit Inc. is a social innovation nonprofit and venture philanthropy fund, investing in social entrepreneurs whose ideas promise to contribute to a greater social good. Areas of interest include education, workforce development, public health, and community development because they facilitate social mobility and enact powerful systemic change by providing better opportunities for children, families, and communities. Deloitte shares these values and has committed to providing pro bono consulting services to New Profit as well as to those in New Profit's portfolio. As one of the largest employers with top talent, Deloitte recognizes that human and intellectual capital is its most valuable asset, and it has based its corporate citizenship strategy-Impact Imperative-around this.
This collaboration between a large public financial firm and a small private organization is a profound example of social responsibility that has the potential to affect many people for the better. 9
How is Deloitte contributing to New Profit Inc.'s mission?