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MIE 310

MIE 310. Nelson Hall 02210 8:30 to 9:45 | 10:15 to 11:30 Faculty: Nachiket Bhawe Office 1316 Nelson Hall Office Hours: By Appointment. Social Entrepreneurship. Social Entrepreneurship Definition Ecosystem Discussion of Ethics “Does it Pay to be Good?” Innovative Business Models

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MIE 310

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  1. MIE 310 Nelson Hall 02210 8:30 to 9:45 | 10:15 to 11:30 Faculty: Nachiket Bhawe Office 1316 Nelson Hall Office Hours: By Appointment

  2. Social Entrepreneurship • Social Entrepreneurship • Definition • Ecosystem • Discussion of Ethics • “Does it Pay to be Good?” • Innovative Business Models • Grameen Bank

  3. What is social good? • Entrepreneurs create social value • Can you do social good through your business? • What is your goal in the world? • Aligning business and social goals?

  4. Identifying an Ecosystem • Identify ultimate social impact • Identify players and environmental conditions

  5. Changing the Ecosystem • Coalitions • Webs or relationships are enabling and constraining. • Communications • Have to appeal to both self-interested and other-regarding intentions. • Credibility • Multiple players with different goals. Those with social goals are unlikely to cooperate if SE’s social aspirations are not credible. • Contingencies • Can’t predict wide-ranging reactions. Requires starting small.

  6. SE Ecosystem • Who are the major players? • Academic Programs • SE competitions • Superstars and storytellers • Funding Organizations • Institutions and Infrastructure • Changing norms • Base of the pyramid strategies

  7. SE Academic Programs • Duke’s Center for Advancement of Social Entrepreneurship • Oxford’s Skoll Centre for Social Entrepreneurship • Stanford • Stanford Social Innovation Review • Harvard Business School’s Social Enterprise Initiative

  8. SE Competitions • U. of Washington Global Social Entrepreneurship Competition • Global Social Venture Competition • Berkeley, Columbia Business School, London Business School, Indian School of Business, Thammasat University (Thailand) – other partners • BiD Network • “engages thousands of entrepreneurs, experts and investors from all over the world to stimulate entrepreneurship and economic growth in emerging markets.”

  9. Superstars and storytellers Superstars Storytellers • Mohamed Yunus – founder of Grameen Bank, Nobel Peace Prize winner • Bill Drayton – founder of Ashoka • Nicholas Negroponte -One Laptop per Child • CK Prahalad – The Base of the Pyramid (BOP) • GOOD Magazine • David Bornstein – How to Change the World: Social Entrepreneurs and the Power of New Ideas • PBS’ The New Heroes

  10. SE Funding Organizations • Acumen Fund • Jacqueline Novogratz • Social Venture Partners • Local chapter in Minneapolis • Ran the Social Entrepreneur’s Cup • Community Venture Capital • Supposed to benefit a specific • Good Capital • Omidyar Network

  11. SE Supporting organizations • Ashoka • Identify impactful “change agents” • Schwab Foundation for Social Entrepreneurship • Fosters the peer-to-peer exchange of the social entrepreneurs and supports the replication of their methodologies among each other. • provide scholarship opportunities to the best executive education courses in the field to the selected social entrepreneurs • Skoll Foundation (Award for SE) • The Skoll Awards for Social Entrepreneurship support social entrepreneurs whose work has the potential for large-scale influence on critical challenges of our time: tolerance and human rights, health, economic and social equity, peace and security, institutional responsibility, and environmental sustainability.

  12. SE Supporting orgs cont. • FAST Company – Social Capitalist Awards • http://origin-www.fastcompany.com/social/2008/index.html • The Tech Awards – 15 Tech Laureates chosen annually • recognizing the best of those who are utilizing innovative technology solutions to address the most urgent critical issues facing our planet. People all over the world are profoundly improving the human condition in the areas of education, equality, environment, health, and economic development through the use of technology. It is the goal of The Tech Awards to showcase their compelling stories and reward their brilliant accomplishments. • Social Venture Network • 500 of the brightest and most innovative engaging socially-conscious business leaders in North America

  13. Institutions and infrastructure • B corporations • By-laws of organization explicitly include social impact • Effort at branding • Ex. Better World Books, Adina • Social Capital Markets • CSR Pyramid Strategies

  14. Grameen Bank: Innovative BusinessModels • Problem? • Micro-lending • Collateral/monitoring • Poor decisions/trust deficit/recovery • Industry? • Banking and Finance • Market/Customer • Poor women • Technology? • Community monitoring • Flexible payback • Finances • 97% recovery vs.? (student loan default rate 14%) • Nobel Peace Prize

  15. Summary • Social Capital Markets • Be responsible • A higher calling • Credibility • Passion and intrinsic motivation • Do well and do good

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