SOC SCI 198 Lecture Notes - Lecture 18: Creative Problem-Solving, Social Entrepreneurship, Toms Shoes

31 views4 pages
15 Mar 2017
School
Department
Professor
Mission&driven&startup
Making&money&is&only&a&part&of&it&
Example:&Toms&shoes&(one&for&one)&
1&million&new&ventures&a&year&in&US&
85%&of&the&new&jobs&in&small&and&start-up& firms&
Product& and&service&introduction&rate&higher&than&ever&before&
Rate&of&wealth&creation&exploding&
And&its&global&revolution&
Adding&an&element&of&social&good&to&it&
Process&of&creating&value&by&bringing&together&a&unique& package&of&
resources&to&exploit&an&opportunity,& in&pursuit&of&high&social&returns&
Denomination&of&the&return&
§
The&only&difference&is&how&you&are&measuring&return
Social&and&commercial&entrepreneurship&have&most&of&the& same&
characteristics&
Not&just&profit&but&also&people&and&planet&
§
Triple&bottom&line&
An&entrepreneurial&revolution&
Find&an&opportunity&
Develop&a&business& concept&
Figure&out&what&success&means&and&how&to&measure&it&
An&investor&who&only&invests&in&social&entrepreneur&startups&
§
Acquire&the&right&resources&
Launch&and&grow
Attain&goals&
The&process&of&Social&Entrepreneurship&
Social&entrepreneurship& meets&needs& unmet&by&commercial&
markets&and&usually&the&govt&
Social&entrepreneurship& is&motivated&by&social&benefits&
Markets&buy&what&they&want&to&buy&
§
Successful&social&entrepreneurship&usually&works&with&not&against,&
market&
Three&characteristics&
Not&anti-business;&they&just&don’t&want&revenue&
The&difference&between&commercial&and&social&entrepreneurship&is&
greed&
Social&entrepreneurs& are&nonprofit& managers&
You&learn&how&to&be&it&
§
Millennial&have&a&bend&to&it&
§
Social&entrepreneurs& are&born&not&made&
Social&entrepreneurs& are&misfits&
Much&more&sustainable&
§
Social&enterprise&usually&fail&
Same&as&entrepreneurs&
§
Social&entrepreneurs& love&risk&
Myths&of&social&entrepreneurship&
Increasing&interest&in&this&
You&can&make&money&
A&primer&on&nonprofit&organization&
Social&Entrepreneurship&
Entrepreneurial& Leadership&
Part&of&organization&->&scope->&whole&organization&
Maintain&status&quo&-->&objectives-->&create& change&
Conserve&resources&--->&focus-->&&max
Conventional&vs&entrepreneurial&
Leadership-the&power&to&focus&and&direct&the&organization&
Neg&connotations&
§
Power&were&situation&is&limited&
§
Authority&it&the&right&to&influence&action&this&may&be&the&right&of&the&
entrepreneur&given&their&position&with&in&a&venture&
§
Power-the&ability&to&influence&the&course&of&action&with&in&the&
organization&
Make&is&so&interest&are&align&
§
Motivation-the&process&of&encouraging&indiv&to&take&a&particular&course&of&
action&
Leadership&,&power,&motivation&
Tools&used&by&the&entrepreneur&to&turn&the&vision&into&a&reality&
Sales&go&up&and&then&you&will&reach&a&Plato&where&you&cant&sell&any&
more&than&you&are&doing&
§
Most&don’t&know&they&are&in&it&
Leadership&starts&to&lag
Start&up-product,&initial,&customer&
Period&of&transition-strategy&product&positioning&
Sustained&and&profitable&growth-expansion,&diversification,&
new&product&development&(they&start&to&fire&people&and&let&
people&go)&
Sales-get&a&female&and&a&mal&e&to&compete&
The&turning&point&is&the&most&important&
§
The&life&cycle&of&an&entrepreneurial&firm&
Plan,&balancing&short&term&and&long&term&goals&of&all&constituencies&
§
Communicate&to&produce&alignment&
§
Build&a&team&and&facilitate&their&working&as&a&team&
§
Resolve&conflicts&
§
Understand&that&people&and&culture&are&you&key&assets&
§
Learn&from&every&success&and&failure&you&have,&and&from&mentors&
and&other&successful&entrepreneurs
§
The&entrepreneur&must&
Entrepreneur&and&managerial&different&
The&dynamics&of&control&
Recognizing&opportunity&
Assessing&opportunity&
Vision/&seeing&the&future&
Creative&problem&solving&
Resource&leveraging/&bootstrapping&
Mitigating&managing&risk&
Planning&and&modeling&when&nothing&exists&
Innovation&
building&and&managing&network&
The&ability&to&maintain&focus-most&difficult
Knowing&when&to&adapt&
Action&orientation&
Tenacity&and&perseverance
Ability&to&learn&form&experiences&
Entrepreneurial&competencies&&
Lecture'18'
Tuesday,& March&14,&2017
3:34&PM
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Document Summary

Making money is only a part of it. 1 million new ventures a year in us. 85% of the new jobs in small and start-up firms. Adding an element of social good to it. Process of creating value by bringing together a unique package of resources to exploit an opportunity, in pursuit of high social returns. The only difference is how you are measuring return. Social and commercial entrepreneurship have most of the same characteristics. Not just profit but also people and planet. Figure out what success means and how to measure it. An investor who only invests in social entrepreneur startups. Social entrepreneurship meets needs unmet by commercial markets and usually the govt. Successful social entrepreneurship usually works with not against, market. The difference between commercial and social entrepreneurship is greed. Leadership- the power to focus and direct the organization. Power- the ability to influence the course of action with in the organization.

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