Week four

Week Four Discussion Forum due February 27. (2 pages)

Forum Prompt:

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  • Review articles related to Social Entrepreneurship found under this week’s Lesson, as well as completing some individual research on the topic.
  • In a well thought post, answer the following:
    • What is Social Entrepreneurship?
    • What distinguishes it from a traditional business?
    • Locate a business with this type of business model – what do they do?  Have they been successful?
    • Does your proposed business qualify as social entrepreneurship?

 

 

Week Four-Business Plan Part 2 Due March 2.

Assignment Instructions

Course Objective:

  • Develop the business plan and understand all key components required for success development and implementation

Before completing the business plan and the business model canvas sections below, complete the following:

Estimated Start-up Costs Worksheet in Section 4 Financial Matters (pp. 44-62) from Simple Steps for Starting Your Business, The SCORE Foundation, 2014.  http://s3.amazonaws.com/mentoring.redesign/s3fs-public/SCORE-Canon-Simple-Steps-Starting-Business-2014.pdf

Business Plan Project

This is a continuation of what you started in Week 2.  You will be completing a traditional Business Plan and a Business Model Canvas. An accompanying video pitch presentation is OPTIONAL.

Instructions:

  • This assignment DOES NOT need to be in APA format.
  • It should be formatted in an attractive way so as to bring attention to your document.
  • Please see template at: https://www.score.org/resource/business-plan-template-startup-business
  • You will, however, need to keep track of any resources/sources used within the paper and submit a REFERENCES page as an Appendix (part of same document) — this will be formatted according to APA 6th standards.

Complete the following sections:

  1. Instructions: Operational Plan.
  2. Instructions: Management & Organization.

Management Worksheet

Organization Chart

VII. Instructions: Startup Expenses & Capitalization.

Instructions for Business Model Canvas:

Review the Business Model Canvas Instructions AND Template found at:  https://strategyzer.com/platform/resources

For this week, you will still complete the worksheet noted above but will also fill in the following sections on the Business Model Canvas:

  • Customer Relationships
  • Channels
  • Customer Segments

 

 

Expert Answer

 

Week Four Discussion Forum

 

Social Entrepreneurship

Social entrepreneurship refers to the process of using new companies and business people in the development, funding, and implementation of solutions to cultural, social, or environmental problems or issues (Nicholls, 2008). Social entrepreneurship may be done by organizations of different sizes having different goals and beliefs. Entrepreneurs who start businesses or ventures with a primary goal of making profits usually measure the performance and success of these ventures through the use of various business metrics such as revenues, profit, and an increase in the prices of stock. In social entrepreneurship, however, the nature of the venture is either non-profit or a blend of profit making with giving returns to the community. As such, different metrics are applied in the measurement of performance. Social entrepreneurship aims at achieving certain social, environmental, or cultural goals, and is mostly related with voluntary work – for example healthcare, poverty alleviation, or community development.

A social entrepreneur may, therefore, be defined as an individual who pursues a special business idea that has a huge potential of solving a problem or challenge that is community-based (Dees, 2017). A social entrepreneur is an individual who has the will to take on the risk and the necessary effort to bring positive change in society. Some examples of social entrepreneurship are voluntary educational programs, providing medical care to orphaned children, and providing food supplies to people affected by an epidemic disease. The initiatives of a social entrepreneur are usually aimed at addressing an unmet need in a community that has been overlooked (Alvord et al., 2004). Social entrepreneurship may also choose to address a certain imbalance in the availability of basic commodities or services in a community. Therefore, the main goal in social entrepreneurship is not to make a profit but to realize improvement in the society or local community.

The social entrepreneur, nevertheless, has to be financially capable in order to achieve success in the venture or has to ensure that they make some considerable profit in order to remain in business. Both the traditional business approach and social entrepreneurship aim to fulfill a need in the market and to earn a sustainable profit in the end. The major difference between the two forms of entrepreneurship is that in social entrepreneurship, the entrepreneur focuses beyond simply making a profit. Moreover, in social entrepreneurship, the success and performance of the started business are measured on the positive social, cultural, or environmental impact that the business makes on society (Peredo & McLean, 2006). The traditional business measures performance using monetary metrics such as revenues, profit, and increases in the share price. Charity: Water is an example of an organization started by a social entrepreneur – Scott Harrison (Charity: water, n.d.). The organization is non-profit and has achieved the goal of delivering clean drinking water to more than a million underserved people in more than fifteen countries.

The organization aims to help more than 100 million people in the next ten years of service. The organization’s mission reads: “charity: water is a non-profit organization bringing clean and safe drinking water to people in developing countries” (Charity: water, n.d.). My proposed business qualifies as a social entrepreneurship type of business as the main goals of the venture will be to mitigate the shortage of rice in the country and to ensure food security in the country. the performance of the business will largely be measured by the scale of whether the rice shortage in the country has been eliminated and whether food security has been ensured in the country. even though the business will generate some profit to ensure that we remain in business and conduct our operations smoothly, ensuring food security in Liberia will be the main goal.

References

Alvord, S. H., Brown, L. D., & Letts, C. W. (2004). Social entrepreneurship and societal transformation: An exploratory study. The journal of applied behavioral science, 40(3), 260-282.

Charity: water. (n.d.). Clean Drinking Water for Developing Countries. Retrieved February 26, 2019, from https://www.charitywater.org/

Dees, J. G. (2017). 1 The Meaning of Social Entrepreneurship. In Case Studies in Social Entrepreneurship and Sustainability (pp. 34-42). Routledge.

Nicholls, A. (Ed.). (2008). Social entrepreneurship: New models of sustainable social change. OUP Oxford.

Peredo, A. M., & McLean, M. (2006). Social entrepreneurship: A critical review of the concept. Journal of world business, 41(1), 56-65.

 

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