SOCIAL ENTREPRENEURSHIP HISTORICALLY ENTREPRENEURS HAD TO CHOOSE BETWEEN… ? MAKING MONEY DOING GOOD For-profit businesses Nonprofit organizations or Charity https://www.youtube.com/watch?v=1ecKK3S8 DOE SOCIAL ENTREPRENEURS… • CREATE SYSTEMIC SOLUTIONS TO SOCIAL ISSUES THROUGH THE USE OF BUSINESS PRINCIPLES SOCIAL ENTREPRENEURSHIP • RECOGNIZING AND RESOURCEFULLY PERSUING OPPORTUNITIES TO CREATE SOCIAL VALUE • CRAFTING INNOVATIVE APPROACHES TO ADDRESSING CRITICAL SOCIAL NEEDS SOURCE: DUKE UNIVERSITY SOCIAL ENTREPRENEURSHIP IS… • APPLYING PRACTICAL AND SUSTAINABLE APPROACHES TO THE GOOD OF SOCIETY • A MELDING OF BEST BUSINESS PRACTICE WITH SOLVING SOCIAL PROBLEMS UNDERSTAND THE PROBLEM CREATIVE AND INNOVATIVE STIMULATES ECONOMY SOCIAL ENTERPRISE IS TRENDING… • 9-IN-10 CONSUMERS • 90% OF MILLENIALS WANT TO WORK FOR SOCIALLY CONSCIOUS COMPANIES • $3.7 TRILLION DOLLARS INVESTED IN SOCIAL IMPACT COMPANIES IN 2013 • TOP IVY LEAGUE SCHOOLS HAVE COURSES ON SOCIAL ENTREPRENEURSHIP • B-CORPRATION LEGISLATION BENEFIT CORPORATIONS… • HAVE A CORPORATE PURPOSE TO CREATE A MATERIAL POSITIVE IMPACT ON SOCIETY AND THE ENVIRONMENT • ARE REQUIRED TO CONSIDER THE IMPACT OF THEIR DECISIONS NOT ONLY ON SHAREHOLDERS BUT ALSO ON WORKERS, COMMUNITY, AND THE ENVIRONMENT • ARE REQUIRED TO MAKE ABAILABLE TO THE PUBLIC AN ANNUAL BENEFIT REPORT THAT ASSESSES THEIR OVERALL SOCIAL AND ENVIRONMENTAL PERFORMANCE AGAINST A THIRD PARTY STANDARD PBS states social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems. They are ambitious and persistent, tackling major social issues and offering new ideas for widescale change. CHECK OUThttp://www.pbs.org/opb/thenewheroes/whatis/ EXAMPLES OF SOCIAL VENTURES… “For us at Patagonia, a love for nature demands participation in the fight to save it, and to help reverse the decline in the overall environmental health of our planet. We donate our time, services, and money to hundreds of grassroots environmental groups worldwide.” “Our goal is to holistically equip people living in poverty with the skills, education, and resources to change their circumstances forever. Work provides worth. Education breeds innovation. Mentorship nourishes relationships. Through this multi-faceted and measured approach, we work with each beneficiary to create a path toward independence.” “We created this company because we care passionately about helping families and giving all children their best and healthiest start in life. There are 2.2 billion children in the world, and 75 million in the United States, and through our Social Goodness work, we believe it is our job to make a difference in the lives of all families.” DO YOU KNOW OF ANY SOCIAL VENTURES? REFLECTION • WHAT IS SOCIAL ENTREPRENEURSHIP? • WHY DOES IT MATTER? • DOES IMPACT AFFECT EVERY AREA OF SOCIAL ENTERPRISE?