We believe that innovation can bring new improved solutions to existing social issues for the entrepreneur. You do not have to go at it alone and you can make your service convenient and relevant. What is more important is focusing on the what is need to get done and not how it is going to get done. There will definitely be barriers on your way to making the change but innovation shows an individual that you really can try your best and one day succeed.
Lets take a look at Kiva.org, where they know there are specific people in third world countries that need assistance, and the best way to help them is to give out microloans that will get paid back over time. The creator has pursued the opportunity to tackle his mission, focus on his drive for impact, and begin to solve problems one step at a time. The fact that he has another location in Cambodia is very helpful and definitely is an extra hand to those in that country.
As a social entrepreneur you have to ask your customer what they need and give it to them, because it will help you to trust the data and make the change that is needed. It is important the the audience can reach the cause easily and donate their money or attention towards it, because then the social entrepreneur will know that their approach to the issue is effective. We also believe that the impact of innovation can bring a sense of accomplishment for the social entrepreneur and they can also see that through statistical studies.
Social entrepreneurship, in its most basic sense, concerns transformational change of a disadvantaged society or community. The purpose of most social enterprises is to identify social problems, distinguish unmet needs, and address specific issues through an innovative approach. In this context, innovation refers to the implementation of processes, relationships, technology, or systems, designed to manage social needs and return social value. Innovation necessitates the employment of new ideas, ways of thinking, and new practices to develop better solutions for social problems. Victoria Hale is a prime example of a social entrepreneur that applied innovation to come up with a more efficient solution for a social problem. Hale recognized that developing countries are in desperate need of pharmaceutical drugs to fight disease. Some of the medication needed was no longer used in the United States and was sitting idle in the storage space of pharmaceutical companies. Hale, using intellectual capital and her background in chemistry, began matching up the medicine that wasn’t being used with the developing countries that needed it; also known as orphan drugs. With Victoria Hale’s innovative idea, some individuals gained a fair shot at battling illness and disease.
There are five areas where the social entrepreneur can apply innovation: 1. Working with others: To better the organization and to partner with another individual, group, or organization to tackle an issue (Social Enterprise Alliance, 2010). 2. Be confident and relevant: Addressing the needs of the organization and its customer segments and to allow for more efficient and effective operations and tasks within the organization (Social Enterprise Alliance, 2010). 3. Be efficient: Focusing on the issue at hand and nothing else, narrowing focus to where it presently needs to be (Social Enterprise Alliance, 2010). 4. What do the customers want?: Asking questions to the customers and communities in order to gather feedback then utilizing the information to determine organizational goals for both the present and future (Social Enterprise Alliance, 2010). 5. Apply technology: Trusting the data collected, applying it, and focusing on customer feedback (Social Enterprise Alliance, 2010).
Overall, these five tools can take the social entrepreneur from where they are to where they need to be; creating social value for the customers and communities served. Innovation is the lever that creates change.
References: 1. Alliance, Social Enterprise. (2010). Succeeding at Social Enterprise: Hard-Won Lessons for Nonprofits and Social Entrepreneurs. Wiley.
Innovation is indefinitely the lever that we have been talking about as a class the entire semester. It is essentially a change. Innovation comes from a Latin word which means "renew" (Wikipedia). Therefore, an innovation is something that will create a change or introduce something completely new. Innovation is an important aspect of everyday business because it keeps you on top of the competition and re-sets the bar for companies to compete at.
Innovation is very important to social entrepreneurs. Without it, they would have no edge against an ordinary entrepreneur. For example, an every-day after school tutoring program vs. a mentoring program like Big Brothers Big Sisters are differentiated by the innovation behind BBBS. There is no real innovation behind an after school tutoring program. Yes, they are doing social good for the community and youth; however, what makes them different than any other after school program? The innovation behind BBBS is a mentoring program that gives children who would not have the opportunity without this program to have a positive role model and supportive friend. This can potentially happen from a tutoring program, but it is not the essential purpose of it. So therefore, there is no innovation behind a regular tutoring program, unless there is more structure to it. Social entrepreneurs, such as BBBS, almost require an innovation to make their program effective and worthwhile.
Innovation has a major influence on the social entrepreneur‘s objective at hand. The SE must realize that through innovation new ways of doing process can be achieved and find a solution for any given problem. Innovation is the social entrepreneur’s most vital tool because of how it brings together a mix of capital to overcome an obstacle. In our reading of Succeeding at Social Enterprise it lays down a couple of lessons for the social entrepreneur to take note of in any venture they undertake. The lessons are 1. Don’t Go it Alone, 2. Make your service convenient and relevant, 3. Focus on “What”, Not “How”, 4. Ask your customers what they want, 5. Trust the data, and make the change. (SSE 2010) These lessons are important for the social entrepreneur first because they maintain focus on the mission and dealing with every problem in an efficient manner, that doesn’t waste unnecessary time and energy. A recent example we went over in class was KIVA which was an online community of bankers for the developing world. Kiva, focus on each one of the lessons by connecting wealthy investors with social entrepreneurs, who live in other countries. And this process promotes trust amongst investors and entrepreneurs, which creates a thriving network that exits because of the goodwill of a few. Innovated thinking was involved in the creation of KIVA by Matt Flannery and his innovated minded team, who saw an opportunity and with the right technology in place could provide an outlet/inlet for cash to flow more freely and helping to alleviate poverty around the world.
posted by Chris Ruffin, Dennis Andrews, James Brady, Whitney Buchanan
References 1. Alliance, Social Enterprise. (2010). Succeeding at Social Enterprise: Hard-Won Lessons for Nonprofits and Social Entrepreneurs. Wiley.
Social Entrepreneur and innovation are correlated, as we know that social entrepreneur is the one who recognizes the needs of society and finds new ways to address that problem, where as innovation is defined as to introduce some thing new. Social entrepreneurs implement innovation programs to establish new ways to improve the world. Good Capital is an investment firm working with for profit and non profit organizations, by increasing the flow of capital to innovative ventures. "Good cap is raising a private equity fund invest institutionally in for-profits and nonprofits. Good Cap's innovation is a form of financing that acts like venture capital enterprise (Mission, Inc. 2009). It is the conversion of knowledge and ideas into a benefit for the public good; the benefit or impact may be new or improved products, processes or services. A good example of innovation in social entrepreneurship is the "Dell Student Social Entrepreneur Competition" which encourages student social entrepreneurs to dream up ingeniuos ideas to change their community/world. There have been many different impacts and innovations made by social entrepreneurs. A lot of which have been made because of problems in the community. A good example would have to do with crime in the community involving the youth. The boys and girls club realized that youth are very impressionable and there for set up programs to mold young minds into strong individuals that can make a positive impact on the community rather than resort to crime. I watched an interview with Denzel Washington who is a strong supporter of the club on fox news were he spoke of the high success rate of the youth that were involved with the club. This is a good innovation in the community to allow kids that may have not had opportunities to be open to many. Mentoring can have a huge impact on people along with all of the helpful programs out there in our communities.
Ayesha Khan, Adam Stiles, Anthony Anyansi, Ashley Hall
Social Entrepreneurship is refers to the creation of impact and Innovation, not Income. Innovation describes the foundation of how an entrepreneur seeks to develop opportunities that can bring significant change to society. The impact of innovation on the social entrepreneur level is that they are driven to create new possibilities, which, in turn, helps benefit the society at large. Through this process social enterprise delivered ideas and knowledge by turning it into innovative solutions to solve emerging problems. A social entrepreneurship company seeks innovation (1). Innovation can be beneficial for social entrepreneurs. Micro loaners, such as Grameen Bank, help poor people start their own business with the support of microcredits, creating social value using an innovation. The impact that innovation has on the social entrepreneur is simple to categorize, yet difficult to achieve. Innovation transforms a business-owner into an entrepreneur and a social innovation transforms the business-owner into a social entrepreneur. This means that an entrepreneur cannot exist without innovation. Many business-owners believe that they are entrepreneurs (social or not), but they fail to create and use a new innovation and, therefore, are just business-owners.
We believe that innovation can bring new improved solutions to existing social issues for the entrepreneur. You do not have to go at it alone and you can make your service convenient and relevant. What is more important is focusing on the what is need to get done and not how it is going to get done. There will definitely be barriers on your way to making the change but innovation shows an individual that you really can try your best and one day succeed.
ReplyDeleteLets take a look at Kiva.org, where they know there are specific people in third world countries that need assistance, and the best way to help them is to give out microloans that will get paid back over time. The creator has pursued the opportunity to tackle his mission, focus on his drive for impact, and begin to solve problems one step at a time. The fact that he has another location in Cambodia is very helpful and definitely is an extra hand to those in that country.
As a social entrepreneur you have to ask your customer what they need and give it to them, because it will help you to trust the data and make the change that is needed. It is important the the audience can reach the cause easily and donate their money or attention towards it, because then the social entrepreneur will know that their approach to the issue is effective. We also believe that the impact of innovation can bring a sense of accomplishment for the social entrepreneur and they can also see that through statistical studies.
Posted by Koula K., Amanda B., and Matt I.
Social entrepreneurship, in its most basic sense, concerns transformational change of a disadvantaged society or community. The purpose of most social enterprises is to identify social problems, distinguish unmet needs, and address specific issues through an innovative approach. In this context, innovation refers to the implementation of processes, relationships, technology, or systems, designed to manage social needs and return social value. Innovation necessitates the employment of new ideas, ways of thinking, and new practices to develop better solutions for social problems. Victoria Hale is a prime example of a social entrepreneur that applied innovation to come up with a more efficient solution for a social problem. Hale recognized that developing countries are in desperate need of pharmaceutical drugs to fight disease. Some of the medication needed was no longer used in the United States and was sitting idle in the storage space of pharmaceutical companies. Hale, using intellectual capital and her background in chemistry, began matching up the medicine that wasn’t being used with the developing countries that needed it; also known as orphan drugs. With Victoria Hale’s innovative idea, some individuals gained a fair shot at battling illness and disease.
ReplyDeleteThere are five areas where the social entrepreneur can apply innovation:
1. Working with others: To better the organization and to partner with another individual, group, or organization to tackle an issue (Social Enterprise Alliance, 2010).
2. Be confident and relevant: Addressing the needs of the organization and its customer segments and to allow for more efficient and effective operations and tasks within the organization (Social Enterprise Alliance, 2010).
3. Be efficient: Focusing on the issue at hand and nothing else, narrowing focus to where it presently needs to be (Social Enterprise Alliance, 2010).
4. What do the customers want?: Asking questions to the customers and communities in order to gather feedback then utilizing the information to determine organizational goals for both the present and future (Social Enterprise Alliance, 2010).
5. Apply technology: Trusting the data collected, applying it, and focusing on customer feedback (Social Enterprise Alliance, 2010).
Overall, these five tools can take the social entrepreneur from where they are to where they need to be; creating social value for the customers and communities served. Innovation is the lever that creates change.
References:
1. Alliance, Social Enterprise. (2010). Succeeding at Social Enterprise: Hard-Won Lessons for Nonprofits and Social Entrepreneurs. Wiley.
Posted by Catherine Langley and Morgan Vickers
Innovation is indefinitely the lever that we have been talking about as a class the entire semester. It is essentially a change. Innovation comes from a Latin word which means "renew" (Wikipedia). Therefore, an innovation is something that will create a change or introduce something completely new. Innovation is an important aspect of everyday business because it keeps you on top of the competition and re-sets the bar for companies to compete at.
ReplyDeleteInnovation is very important to social entrepreneurs. Without it, they would have no edge against an ordinary entrepreneur. For example, an every-day after school tutoring program vs. a mentoring program like Big Brothers Big Sisters are differentiated by the innovation behind BBBS. There is no real innovation behind an after school tutoring program. Yes, they are doing social good for the community and youth; however, what makes them different than any other after school program? The innovation behind BBBS is a mentoring program that gives children who would not have the opportunity without this program to have a positive role model and supportive friend. This can potentially happen from a tutoring program, but it is not the essential purpose of it. So therefore, there is no innovation behind a regular tutoring program, unless there is more structure to it. Social entrepreneurs, such as BBBS, almost require an innovation to make their program effective and worthwhile.
Ashlee O'Connell, Jordan Fox, Georgina Guevera
Innovation has a major influence on the social entrepreneur‘s objective at hand. The SE must realize that through innovation new ways of doing process can be achieved and find a solution for any given problem. Innovation is the social entrepreneur’s most vital tool because of how it brings together a mix of capital to overcome an obstacle. In our reading of Succeeding at Social Enterprise it lays down a couple of lessons for the social entrepreneur to take note of in any venture they undertake. The lessons are 1. Don’t Go it Alone, 2. Make your service convenient and relevant, 3. Focus on “What”, Not “How”, 4. Ask your customers what they want, 5. Trust the data, and make the change. (SSE 2010)
ReplyDeleteThese lessons are important for the social entrepreneur first because they maintain focus on the mission and dealing with every problem in an efficient manner, that doesn’t waste unnecessary time and energy. A recent example we went over in class was KIVA which was an online community of bankers for the developing world. Kiva, focus on each one of the lessons by connecting wealthy investors with social entrepreneurs, who live in other countries. And this process promotes trust amongst investors and entrepreneurs, which creates a thriving network that exits because of the goodwill of a few. Innovated thinking was involved in the creation of KIVA by Matt Flannery and his innovated minded team, who saw an opportunity and with the right technology in place could provide an outlet/inlet for cash to flow more freely and helping to alleviate poverty around the world.
posted by Chris Ruffin, Dennis Andrews, James Brady, Whitney Buchanan
References
1. Alliance, Social Enterprise. (2010). Succeeding at Social Enterprise: Hard-Won Lessons for Nonprofits and Social Entrepreneurs. Wiley.
Social Entrepreneur and innovation are correlated, as we know that social entrepreneur is the one who recognizes the needs of society and finds new ways to address that problem, where as innovation is defined as to introduce some thing new. Social entrepreneurs implement innovation programs to establish new ways to improve the world. Good Capital is an investment firm working with for profit and non profit organizations, by increasing the flow of capital to innovative ventures. "Good cap is raising a private equity fund invest institutionally in for-profits and nonprofits. Good Cap's innovation is a form of financing that acts like venture capital enterprise (Mission, Inc. 2009). It is the conversion of knowledge and ideas into a benefit for the public good; the benefit or impact may be new or improved products, processes or services. A good example of innovation in social entrepreneurship is the "Dell Student Social Entrepreneur Competition" which encourages student social entrepreneurs to dream up ingeniuos ideas to change their community/world. There have been many different impacts and innovations made by social entrepreneurs. A lot of which have been made because of problems in the community. A good example would have to do with crime in the community involving the youth. The boys and girls club realized that youth are very impressionable and there for set up programs to mold young minds into strong individuals that can make a positive impact on the community rather than resort to crime. I watched an interview with Denzel Washington who is a strong supporter of the club on fox news were he spoke of the high success rate of the youth that were involved with the club. This is a good innovation in the community to allow kids that may have not had opportunities to be open to many. Mentoring can have a huge impact on people along with all of the helpful programs out there in our communities.
ReplyDeleteAyesha Khan, Adam Stiles, Anthony Anyansi, Ashley Hall
Social Entrepreneurship is refers to the creation of impact and Innovation, not Income. Innovation describes the foundation of how an entrepreneur seeks to develop opportunities that can bring significant change to society. The impact of innovation on the social entrepreneur level is that they are driven to create new possibilities, which, in turn, helps benefit the society at large. Through this process social enterprise delivered ideas and knowledge by turning it into innovative solutions to solve emerging problems. A social entrepreneurship company seeks innovation (1). Innovation can be beneficial for social entrepreneurs. Micro loaners, such as Grameen Bank, help poor people start their own business with the support of microcredits, creating social value using an innovation. The impact that innovation has on the social entrepreneur is simple to categorize, yet difficult to achieve. Innovation transforms a business-owner into an entrepreneur and a social innovation transforms the business-owner into a social entrepreneur. This means that an entrepreneur cannot exist without innovation. Many business-owners believe that they are entrepreneurs (social or not), but they fail to create and use a new innovation and, therefore, are just business-owners.
ReplyDelete1. http://www.ssireview.org/articles/entry/social_entrepreneurship_the_case_for_definition/
Team Johanson Urkle Grou
Itay Baron
Tran Ngo
Aubrey Paquet
Emilie Roos
Myshaina Kehinde