What are the critical components of product development for social entrepreneurship? As you describe the impact of sustainability give an example of a product made under that consideration. Due by October 13th
The process of developing a product or service for social enterprise is similar to that of any entrepreneurial enterprise with one major difference: the product or service must have a strong tie to the organizations social mission (Loranger, pg. 88, 2010). The crucial components of product development for the social entrepreneur are as follows; respecting the social and physical environment, lateral thinking, innovative, academic links, effectiveness, efficiency, superior quality and value, and sustainability. The critical social components are creating jobs perhaps by using workers rather than machines, the ways supplies are procured most of the time by fair trade, and proper marketing that is often linked to social mission, and sustainability. Respecting the social and physical environment is self-explanatory. Lateral Thinking is a term established by Edward de Bono in the book New Think: The Use of Lateral Thinking (1967). It refers to problem solving through indirect and resourceful approaches. Lateral thinking is about reasoning that is not immediately obvious and about ideas that may not be obtainable by using only traditional step-by-step logic. Innovation leading to increased productivity and is one of the major drivers in successful product development. It can include the introduction of a new product, introduction of a new method of production, opening of a new market, new supply of raw materials or the new organization of an industry. Efficiency is the ability to control costs at a given level of sales activity, while effectiveness is associated with measuring the outcome of manufacturing processes. The two combined are critical in product development for social entrepreneurship. We must also consider quality and value, the product being developed must be of good craftsmanship and maintain its value for a reasonable amount of time or usage otherwise their will be no demand for it.
A good example of a product that uses all of these critical components is Tom’s shoes and their “One for One” concept for each pair of shoes sold a pair of shoes is given to a child in a poor country. The product helps create jobs and is closely linked to their social mission of shoeing every child.
The simplest definition of sustainability of a product is the ability to endure. Indeed, it is important that we manufacture products that will satisfy present-day demand and consumption however because we live in a world of limited resources it is more important that we do not lose sight of future demand. If we consume the world’s supply of oil within the next couple of decades what will future generations depend on for their energy supply? As the demand for products continues to increase and environmental factors like climate change increasingly affect policies, it becomes more and more vital for businesses to consider sustainability aspects early on in the product development process.
Sustainable product development (SPD) is a method for product development that combines a Framework for Strategic Sustainable Development (FSSD). Sustainability is about creating and maintaining quality of life for people. Creating fairness between all stakeholders and encouraging the community to get involved are two examples of SPD. A good example of a product designed with emphasis towards sustainability is the light bulb. The incandescent light bulb is slowly becoming extinct in households because although it is cheap, it is inefficient and short-term. Compared to general service incandescent lamps giving the same amount of visible light, CFLs use less power and have a longer rated life. Bottom-Line, Compact fluorescent lamp bulbs are designed for sustainability.
Post by: Adam Stiles, Anthony Anyansi, Ayesha Khan, Ashley Hall
The important components of product development for social entrepreneurship are economic, environmental, and social considerations. In developing a product or service, sustainability is the principle that is now setting social enterprises apart from traditional business ventures. Sustainability is important in developing a product/service due to the fact that resources used to form the product are necessary to its upkeep and our environment. For instance, in creating a new product like a community garden, the resources used to create the garden and to keep the garden working need to be available to it and our environment in a continuous cycle. For the resources to have the ability of sustainability, the seeds and plants for the garden can be bought from a local farmer or source. Also, the water used to grow the plants can be sustainable through the usage and storage of rain water. A continuous flow of resources can be beneficial for the sustainability of a product or service and for our environment. For a successful product or service, sustainability should be a top priority; if not eventually the product/service will have to find new resources for production or can altogether become exhausted. The economic, environmental, and social aspects of product development have to all be taken into account regarding sustainability. The economic element concerns trade of resources. The development of hybrid cars serves as a good example. In theory, everyone should drive a hybrid car to save money on gas and decrease air pollution; however, not everyone can afford to buy one. A social entrepreneurship would address the environmental component of product development by questioning how a resource impacts the environment. It is not conducive to sustainable living to plan on using a resource that is exhaustible for years to come. The third aspect, which relates to social justice, refers to the treatment of individuals. The creation of a product or service should contain the element of social justice and goodwill to individuals involved, if not, the product or service may not be accepted well into the market. Posted by: Catherine Langley and Morgan Vickers
The critical components of product development would consider the physical and social environment, economic status of that environment and the social values of that environment. To understand the true definition of sustainability, there must be an understanding that in order to sustain as a social entrepreneur is the ability to achieve and maintain its impact for as long as there is a need for its intervention. The impact of sustainability weighs heavily on the betterment of society, for example Tom’s shoes is a social enterprise that has developed solution for children that are deprived wearing shoes and are at risk of soil-transmitted diseases, cuts, sores, and painful injuries that could lead to infections. Tom’s shoes recognized the physical environment (developing countries), and understood the economic status of the environment (need for shoes). He created social value for the environment by making shoes, this allows for people in the developing countries to make the shoe for profit, in return he would make a pair of shoes for a child in the country. This process will sustain for a long time simply because it creates a job in the third world country making shoes and puts shoes on poor children in these third world countries, so it will continue to achieve as long as there is a need. Through our time spent in Social Entrepreneurship we have identified several components that are vital to the product development process to ensure social value is being instilled in every action we undertake. From Procuring supplies from lower-economically advantage suppliers to employing workers for the betterment of their life situation. Understanding the physical and social environment will allow you to get a more in depth understanding of the economic status of that environment which will lead to the development of a product or service that will establish and sustain social values. Lastly, once consideration is made about the critical components, and you know the underlying meaning of sustainability it is essential to identify with the ability to sustain something, which is simply the means of configuring civilization and human activity so that society, its members and its economies are able to meet their needs and express their greatest potential in the present while striving towards the future. Posted By: Chris Ruffin, Dennis Andrews, James Brady, Whitney Buchanan
In product development for social entrepreneurship, the crucial components involved are environmental, social, and economic components. These components are known as the "three pillars" of sustainability. It is important for a person to have respect for their natural environment. When we as individuals or a population are not mindful of sustainability, it is more possible for us to use resources faster than they can replenish. By producing products that are viable to the economy, and by setting a goal when producing the product to make a positive impact on people, we can be socially responsible. These actions will not only affect you as a business owner, but also the people who buy your products. Social entrepreneurs should think of products that are bearable and viable as well. It is beneficial for business owners to strive for short term and long term equity, and make products that are viable to the environment.
A specific local example of a community garden is the one at the Beloved Community Center on Arlington Street. Urban Harvest is also in the process of making a community garden a significant segment of what they offer as a nonprofit organization. This is an example of pursuing sustainability because instead of solely obtaining food from food banks and other food distributors to give to people. This shows that they are producing their own foods to keep a more ready supply available. They are using the social aspect of sustainability in that they producing their own foods and making other food from places such as food banks available to people in need.
Posted by: Matt Inman, Amanda Bullock, Kiriaki Pashalidis
“Let Mission Drive Enterprise:” This is a phrase we heard a lot in our last class and I think that this statement is truly the most critical component of product development for social entrepreneurship. The only difference between developing a product or service for a social enterprise and for that of an entrepreneurial venture is that “the product or service must have a strong connection to the organization’s core mission” (pg. 87, Succeeding at Social Enterprise). The business purpose, funding sources, customer acquisition and marketing, and operations plan are all considerably different for a social enterprise than for a for-profit. The main goal of product development in a social enterprise is to create a sustainable product. Sustainability is the capacity of something to endure. A lot of times people associate sustainability with the phrases “Go Green” or “Tree Huggers,” but sustainability is much more than that. The main components of sustainability are the economic, social, and environmental dimensions. Let’s take for example TOMS Shoes. TOMS Shoes was founded on a simple idea: “With every pair you purchase, TOMS will give a pair of new shoes to a child in need. One for One” (http://www.toms.com/movement-one-for-one). The products are the shoes and the mission is aligned with the product obviously because the company sells shoes to those who want to buy them and donates shoes to those in need. The TOMS mission allows their customers to do social good, because they in fact are the reason a child is receiving a needed pair of shoes. This “allows [TOMS Shoes] to grow a truly sustainable business rather than depending on fundraising for support” (http://www.toms.com/movement-one-for-one).
Posted by: Ashlee O'Connell, Jordan Fox, and Georgina Guevara
When considering the critical components of product development for social entrepreneurship, there are three aspects we must keep in mind. The environmental, social, and economic components. Each is extremely important in developing successful social entrepreneurships. While discussing the environment, it is important to maintain a business that is environmentally "friendly" if you will, and to also be thinking about the sustainability of our environment. It is important to remember our natural resources are not inevitably always going to be present, so one must consider the impact the business may have on the environment, and strive to make sure it can be sustained. The social aspects includes support and strength from the society around you. One's business needs support from not just one person, but a community. This social component is important in the growth and strengthening of one's business, especially in regards to social entrepreneurship. The final component is the economic aspect. A social entrepreneur must always consider financially how the business is going to impact themselves and others. The goal of a social entrepreneur is to improve society for the better and work towards the "greater good" for all, while maintaining the economic ability to do so. It is important that the money used to sustain the business is not robbing others of their economic income while also concentrating on spending what is solely needed for the entreprenuer. These componenets: environment, social, and economic, are named the "3 Pillars of Sustainability" and it is clear why they are titled so. An example where one can see each of these components is in Tom's Shoes, a social entrepreneurship created by giving away a free pair of shoes for every one bought. This company is working towards the greater good for a community (by giving away shoes to children who cannot afford them) while also creating economic value because of the shoes bought in order for this to even take place. Obviously, this is a mostly socially accepted and praised idea and is a great example of a social entrepreneur including all of the aspects needed to create a successful entrepreneurship.
Part 1-2 The critical components of product development for social entrepreneurship pertain to the important correlation it must shares with the core competency of the organization social mission. The organization’s core mission is required to effectively and efficiently link to the development of the product or service (Loranger, pg. 87-88, 2010). In order to maximize benefits and efficiencies a social enterprise must consider the component of making significant growth toward meeting the organization mission. A critical component of product development for social entrepreneurship is to create revenue for an average human that brings benefits to the community as well as the organization. By creating product for the average human the benefits will be reaped and will put money back into the community that the individual lives in. These critical components are lateral thinking, innovation, academic links, efficiency, physical and social environment, sustainability, and superior quality and value. The social components of the social entrepreneur include the creation of jobs where others would substitute machinery, utilizing fair trade whenever possible (sometimes at a financial loss), social marketing as opposed to strictly financial marketing, and raw material sustainability (so that others may benefit from your resources). Lateral Thinking is a term which refers to the indirect, creative approach to problem solving. It specifically refers to non-traditional reasoning that are not immediately obvious. Innovation is more that doing the undone; it refers to the introduction of a new method of production, a new product, a new market, new organization of an industry, or even a new supply of raw materials. Efficiency is the ability to accomplish a task with as little waste as possible. Effectiveness, on the other hand, is simply the capability of producing something. “Efficiency is doing things right; effectiveness is doing the right things” (Peter F. Drucker). The physical environment is the external surrounding and conditions, while the social environment is made up of the cultures, institutions, and individual and group networks (formal as well as informal), which add value to a person’s life. Among all of this social value, superior quality and value must be achieved without the loss of funds. While social capital is the productive value inherent in our relationships, financial capital (or money) is what keeps a business afloat. Of course Human capital (people) and intellectual capital (the combined tacit knowledge of the human capital) play a huge role in forming a successful social entrepreneurship. Itai Baron Myshaina Kehinde Tran Ngo Audrey Paquet Emilie Roos
Part 2-2 The impact of sustainability is a major point to consider for a social entrepreneur. Sustainability is part of the mission. So for an enterprise sustainability of a product implies a lot of research. The impact of sustainability means when you want something is for a longer time and not for the moment. For example when you building house and do it sheep and fast probably the house survives for a little while. When you invest more money and time in a building it is going to probably bee a longer investment. For example, in the framework of green, biomass, which is a renewable source of energy, is a sustainable product, and it can be beneficial in the long run. It also has to fit the mission and not be a brake to the development of the enterprise. An enterprise can also decide to use sustainable raw materials for a product development. For instance to produce any type of packaging, it can use recycled paper or plastic. But the enterprise has to consider the different costs, and use it the best so that they could take advantage from it. Itai Baron Myshaina Kehinde Tran Ngo Audrey Paquet Emilie Roos
The process of developing a product or service for social enterprise is similar to that of any entrepreneurial enterprise with one major difference: the product or service must have a strong tie to the organizations social mission (Loranger, pg. 88, 2010). The crucial components of product development for the social entrepreneur are as follows; respecting the social and physical environment, lateral thinking, innovative, academic links, effectiveness, efficiency, superior quality and value, and sustainability. The critical social components are creating jobs perhaps by using workers rather than machines, the ways supplies are procured most of the time by fair trade, and proper marketing that is often linked to social mission, and sustainability.
ReplyDeleteRespecting the social and physical environment is self-explanatory. Lateral Thinking is a term established by Edward de Bono in the book New Think: The Use of Lateral Thinking (1967). It refers to problem solving through indirect and resourceful approaches. Lateral thinking is about reasoning that is not immediately obvious and about ideas that may not be obtainable by using only traditional step-by-step logic. Innovation leading to increased productivity and is one of the major drivers in successful product development. It can include the introduction of a new product, introduction of a new method of production, opening of a new market, new supply of raw materials or the new organization of an industry. Efficiency is the ability to control costs at a given level of sales activity, while effectiveness is associated with measuring the outcome of manufacturing processes. The two combined are critical in product development for social entrepreneurship. We must also consider quality and value, the product being developed must be of good craftsmanship and maintain its value for a reasonable amount of time or usage otherwise their will be no demand for it.
A good example of a product that uses all of these critical components is Tom’s shoes and their “One for One” concept for each pair of shoes sold a pair of shoes is given to a child in a poor country. The product helps create jobs and is closely linked to their social mission of shoeing every child.
The simplest definition of sustainability of a product is the ability to endure. Indeed, it is important that we manufacture products that will satisfy present-day demand and consumption however because we live in a world of limited resources it is more important that we do not lose sight of future demand. If we consume the world’s supply of oil within the next couple of decades what will future generations depend on for their energy supply? As the demand for products continues to increase and environmental factors like climate change increasingly affect policies, it becomes more and more vital for businesses to consider sustainability aspects early on in the product development process.
Sustainable product development (SPD) is a method for product development that combines a Framework for Strategic Sustainable Development (FSSD). Sustainability is about creating and maintaining quality of life for people. Creating fairness between all stakeholders and encouraging the community to get involved are two examples of SPD. A good example of a product designed with emphasis towards sustainability is the light bulb. The incandescent light bulb is slowly becoming extinct in households because although it is cheap, it is inefficient and short-term. Compared to general service incandescent lamps giving the same amount of visible light, CFLs use less power and have a longer rated life. Bottom-Line, Compact fluorescent lamp bulbs are designed for sustainability.
Post by: Adam Stiles, Anthony Anyansi, Ayesha Khan, Ashley Hall
The important components of product development for social entrepreneurship are economic, environmental, and social considerations. In developing a product or service, sustainability is the principle that is now setting social enterprises apart from traditional business ventures. Sustainability is important in developing a product/service due to the fact that resources used to form the product are necessary to its upkeep and our environment. For instance, in creating a new product like a community garden, the resources used to create the garden and to keep the garden working need to be available to it and our environment in a continuous cycle. For the resources to have the ability of sustainability, the seeds and plants for the garden can be bought from a local farmer or source. Also, the water used to grow the plants can be sustainable through the usage and storage of rain water. A continuous flow of resources can be beneficial for the sustainability of a product or service and for our environment. For a successful product or service, sustainability should be a top priority; if not eventually the product/service will have to find new resources for production or can altogether become exhausted.
ReplyDeleteThe economic, environmental, and social aspects of product development have to all be taken into account regarding sustainability. The economic element concerns trade of resources. The development of hybrid cars serves as a good example. In theory, everyone should drive a hybrid car to save money on gas and decrease air pollution; however, not everyone can afford to buy one. A social entrepreneurship would address the environmental component of product development by questioning how a resource impacts the environment. It is not conducive to sustainable living to plan on using a resource that is exhaustible for years to come. The third aspect, which relates to social justice, refers to the treatment of individuals. The creation of a product or service should contain the element of social justice and goodwill to individuals involved, if not, the product or service may not be accepted well into the market.
Posted by: Catherine Langley and Morgan Vickers
The critical components of product development would consider the physical and social environment, economic status of that environment and the social values of that environment. To understand the true definition of sustainability, there must be an understanding that in order to sustain as a social entrepreneur is the ability to achieve and maintain its impact for as long as there is a need for its intervention. The impact of sustainability weighs heavily on the betterment of society, for example Tom’s shoes is a social enterprise that has developed solution for children that are deprived wearing shoes and are at risk of soil-transmitted diseases, cuts, sores, and painful injuries that could lead to infections. Tom’s shoes recognized the physical environment (developing countries), and understood the economic status of the environment (need for shoes). He created social value for the environment by making shoes, this allows for people in the developing countries to make the shoe for profit, in return he would make a pair of shoes for a child in the country. This process will sustain for a long time simply because it creates a job in the third world country making shoes and puts shoes on poor children in these third world countries, so it will continue to achieve as long as there is a need.
ReplyDeleteThrough our time spent in Social Entrepreneurship we have identified several components that are vital to the product development process to ensure social value is being instilled in every action we undertake. From Procuring supplies from lower-economically advantage suppliers to employing workers for the betterment of their life situation. Understanding the physical and social environment will allow you to get a more in depth understanding of the economic status of that environment which will lead to the development of a product or service that will establish and sustain social values. Lastly, once consideration is made about the critical components, and you know the underlying meaning of sustainability it is essential to identify with the ability to sustain something, which is simply the means of configuring civilization and human activity so that society, its members and its economies are able to meet their needs and express their greatest potential in the present while striving towards the future.
Posted By: Chris Ruffin, Dennis Andrews, James Brady, Whitney Buchanan
In product development for social entrepreneurship, the crucial components involved are environmental, social, and economic components. These components are known as the "three pillars" of sustainability. It is important for a person to have respect for their natural environment. When we as individuals or a population are not mindful of sustainability, it is more possible for us to use resources faster than they can replenish. By producing products that are viable to the economy, and by setting a goal when producing the product to make a positive impact on people, we can be socially responsible. These actions will not only affect you as a business owner, but also the people who buy your products. Social entrepreneurs should think of products that are bearable and viable as well. It is beneficial for business owners to strive for short term and long term equity, and make products that are viable to the environment.
ReplyDeleteA specific local example of a community garden is the one at the Beloved Community Center on Arlington Street. Urban Harvest is also in the process of making a community garden a significant segment of what they offer as a nonprofit organization. This is an example of pursuing sustainability because instead of solely obtaining food from food banks and other food distributors to give to people. This shows that they are producing their own foods to keep a more ready supply available. They are using the social aspect of sustainability in that they producing their own foods and making other food from places such as food banks available to people in need.
Posted by: Matt Inman, Amanda Bullock, Kiriaki Pashalidis
“Let Mission Drive Enterprise:” This is a phrase we heard a lot in our last class and I think that this statement is truly the most critical component of product development for social entrepreneurship. The only difference between developing a product or service for a social enterprise and for that of an entrepreneurial venture is that “the product or service must have a strong connection to the organization’s core mission” (pg. 87, Succeeding at Social Enterprise). The business purpose, funding sources, customer acquisition and marketing, and operations plan are all considerably different for a social enterprise than for a for-profit.
ReplyDeleteThe main goal of product development in a social enterprise is to create a sustainable product. Sustainability is the capacity of something to endure. A lot of times people associate sustainability with the phrases “Go Green” or “Tree Huggers,” but sustainability is much more than that. The main components of sustainability are the economic, social, and environmental dimensions.
Let’s take for example TOMS Shoes. TOMS Shoes was founded on a simple idea: “With every pair you purchase, TOMS will give a pair of new shoes to a child in need. One for One” (http://www.toms.com/movement-one-for-one). The products are the shoes and the mission is aligned with the product obviously because the company sells shoes to those who want to buy them and donates shoes to those in need. The TOMS mission allows their customers to do social good, because they in fact are the reason a child is receiving a needed pair of shoes. This “allows [TOMS Shoes] to grow a truly sustainable business rather than depending on fundraising for support” (http://www.toms.com/movement-one-for-one).
Posted by: Ashlee O'Connell, Jordan Fox, and Georgina Guevara
When considering the critical components of product development for social entrepreneurship, there are three aspects we must keep in mind. The environmental, social, and economic components. Each is extremely important in developing successful social entrepreneurships.
ReplyDeleteWhile discussing the environment, it is important to maintain a business that is environmentally "friendly" if you will, and to also be thinking about the sustainability of our environment. It is important to remember our natural resources are not inevitably always going to be present, so one must consider the impact the business may have on the environment, and strive to make sure it can be sustained. The social aspects includes support and strength from the society around you. One's business needs support from not just one person, but a community. This social component is important in the growth and strengthening of one's business, especially in regards to social entrepreneurship. The final component is the economic aspect. A social entrepreneur must always consider financially how the business is going to impact themselves and others. The goal of a social entrepreneur is to improve society for the better and work towards the "greater good" for all, while maintaining the economic ability to do so. It is important that the money used to sustain the business is not robbing others of their economic income while also concentrating on spending what is solely needed for the entreprenuer.
These componenets: environment, social, and economic, are named the "3 Pillars of Sustainability" and it is clear why they are titled so.
An example where one can see each of these components is in Tom's Shoes, a social entrepreneurship created by giving away a free pair of shoes for every one bought. This company is working towards the greater good for a community (by giving away shoes to children who cannot afford them) while also creating economic value because of the shoes bought in order for this to even take place. Obviously, this is a mostly socially accepted and praised idea and is a great example of a social entrepreneur including all of the aspects needed to create a successful entrepreneurship.
The previous comment by msbinns is also posted by: Craig, Erich, and Becky
ReplyDeletePart 1-2
ReplyDeleteThe critical components of product development for social entrepreneurship pertain to the important correlation it must shares with the core competency of the organization social mission. The organization’s core mission is required to effectively and efficiently link to the development of the product or service (Loranger, pg. 87-88, 2010). In order to maximize benefits and efficiencies a social enterprise must consider the component of making significant growth toward meeting the organization mission. A critical component of product development for social entrepreneurship is to create revenue for an average human that brings benefits to the community as well as the organization. By creating product for the average human the benefits will be reaped and will put money back into the community that the individual lives in. These critical components are lateral thinking, innovation, academic links, efficiency, physical and social environment, sustainability, and superior quality and value.
The social components of the social entrepreneur include the creation of jobs where others would substitute machinery, utilizing fair trade whenever possible (sometimes at a financial loss), social marketing as opposed to strictly financial marketing, and raw material sustainability (so that others may benefit from your resources). Lateral Thinking is a term which refers to the indirect, creative approach to problem solving. It specifically refers to non-traditional reasoning that are not immediately obvious. Innovation is more that doing the undone; it refers to the introduction of a new method of production, a new product, a new market, new organization of an industry, or even a new supply of raw materials. Efficiency is the ability to accomplish a task with as little waste as possible. Effectiveness, on the other hand, is simply the capability of producing something. “Efficiency is doing things right; effectiveness is doing the right things” (Peter F. Drucker). The physical environment is the external surrounding and conditions, while the social environment is made up of the cultures, institutions, and individual and group networks (formal as well as informal), which add value to a person’s life. Among all of this social value, superior quality and value must be achieved without the loss of funds. While social capital is the productive value inherent in our relationships, financial capital (or money) is what keeps a business afloat. Of course Human capital (people) and intellectual capital (the combined tacit knowledge of the human capital) play a huge role in forming a successful social entrepreneurship.
Itai Baron
Myshaina Kehinde
Tran Ngo
Audrey Paquet
Emilie Roos
Part 2-2
ReplyDeleteThe impact of sustainability is a major point to consider for a social entrepreneur. Sustainability is part of the mission. So for an enterprise sustainability of a product implies a lot of research. The impact of sustainability means when you want something is for a longer time and not for the moment. For example when you building house and do it sheep and fast probably the house survives for a little while. When you invest more money and time in a building it is going to probably bee a longer investment.
For example, in the framework of green, biomass, which is a renewable source of energy, is a sustainable product, and it can be beneficial in the long run. It also has to fit the mission and not be a brake to the development of the enterprise.
An enterprise can also decide to use sustainable raw materials for a product development. For instance to produce any type of packaging, it can use recycled paper or plastic. But the enterprise has to consider the different costs, and use it the best so that they could take advantage from it.
Itai Baron
Myshaina Kehinde
Tran Ngo
Audrey Paquet
Emilie Roos