Lecture Entrepreneurship: Chapter 15 - Zacharakis, Bygrave, Corbett

Chapter 15 - Social entrepreneurship. Chapter 15 looks at social entrepreneurship. Today, many students are looking at business ideas that may not only earn a profit, but also address a social concern.

SOCI AL  ENTREPRENEURSHI P Chapt e r   15 Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © “Self-interest, rightly understood” -Alexis § § de Tocqueville Classical entrepreneurs seek financial gain Social entrepreneurs start with a social mission Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Social entrepreneurship is rising • • • TRENDS Opportunities created through increased emphasis on social purpose & sustainability ‘Wicked problems” with complex solutions and multiple stakeholders are increasing New organizations must consider a wider variety of goals/outcomes Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Social Entrepreneurship is defined by processes & people DEFINITI • • ON Process-based definitions focus on actions: ü Social value creation ü Opportunity recognition ü Opportunity exploitation ü Resource mobilization Entrepreneur-centric definitions focus on people who: ü Find innovative solutions to society’s problems ü Are society’s change agents Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © There are main types of social ventures TYPES Economic Economic Social Traditional Social Purpose Hybrid Social Impact Mission Social Consequence Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Enterprising Non-profits M Traditional ventures seek i economic outcomes s s i o n a n d o u Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Traditional E Social c profits o n o m i c m i s s i Consequence balance & mission Social Purpose Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © S Social purpose e social mission e k s start with a a p r o f i t Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Social Consequence D Enterprising nonprofits r income into the cause i v e n b y s o c i Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © re-invest Enterprising Non-profits T Hybrids pursue social and h economic goals equally e i n t e r n e t / m Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Hybrid E Choose a venture type suited for a your resources & strategy TYPES c h t y p e h a s Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 â Measuring impact is critical • Social problems are complex MEASUR ES Reducing consequences may not solve the problem Solutions are multi-pronged Measures must related objectives and tied to activities Consider defining objectives in terms of a Triple Bottom Line (TBL) ü Economic ü Environmental ü Social Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 â 12 Recap Until government & business meet social needs, there will be demand for social entrepreneurs Many have created systemic change Imitative and innovative entrepreneurs can be equally rewarded Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © ...“Self-interest, rightly understood” -Alexis § § de Tocqueville Classical entrepreneurs seek financial gain Social entrepreneurs start with a social mission Zacharakis, Bygrave and Corbett, ... Consequence Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Enterprising Non-profits M Traditional ventures seek i economic outcomes s s i o n a n d o u Zacharakis,. .. t Zacharakis, Bygrave and Corbett, Entrepreneurship, New York: Wiley, 2017 © Social Consequence D Enterprising nonprofits r income into the cause i v e n b y s o c i Zacharakis, Bygrave and Corbett,