MECH 430 Lecture Notes - Lecture 10: Social Enterprise
9 Jun 2018
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MGPO438 Key Definitions Lecture Notes
Reading Presentation - what so social entrepreneurship
- Different definitions between entrepreneurship and social entrepreneurship
o the one who undertakes
o Unterneher – entrepreneurial spirit
o Committed exploiter of change
- See embedded solutions in suboptimum equilibrium, rather than seeing them as an
inconvenience to be tolerated
- provide meaningfully higher level of satisfaction for the participants of the system
- creation of an ecosystem around and within the new equilibrium that it first stabilizes
and then securely persists
- bridges a gap between business and benevolence
- social mission
o remedy to unjust and stable equilibrium, reducing needs, long term social return,
creation of wealth as a means to an end
- social activism, eg. MLK
- social service provision: direct action, eg. not-for-profit, charity
- provides access
- social innovation as progress
o improvement of society, process and outcome
o sustained improvement, exchange of ideas
- fair trade as social innovation
o opposed to free trade
- takeaway
o social innovation as a driver of social enterprise – what is social
entrepreneurship
▪ moving in equilibriums
o maintain a new equilibrium
- measures of success
o triple bottom line: profit, people, planet – measures of a social entrepreneur’s
success?
Proms Video
- Venezuela using classical music to save lives
o Keeps kids off streets/away from drugs/gangs
o Unconventional, connects people – changes music performance
o Socializing children – discipline and passion
o Cooperative community in solidarity
o Social goal
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