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BUS 374 W10 Reflection Six Traits of Successful Social Entrepreneurs and Hybrid Business Models

 BUS 374 W10 Reflection Six Traits of Successful Social Entrepreneurs and Hybrid Business Models We learned in week 10 about six traits that Bornstein believes set apart successful social entrepreneurs all share similar distinctive characteristics in their ambitions which drive them to achieve long-lasting goals. We learned that many social entrepreneurs have been able to achieve financial success because of their commitment to developing workable solutions that are not only efficient but of high quality by exploring opportunities, anticipating challenges, measure outcomes. Mr. Bornstein has also stated that successful social entrepreneurs must possess a deep-seated desire to make the world a better place.  I found it interesting that Social Businesses are companies created for social benefit rather than private profit. Like an NGO, it has a social or environmental mission, but like a business, it generates its own revenues to cover its costs. Investors may recoup their initia...
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BUS 374 W09 Reflection Nonprofit Starvation Cycle

 The main idea and the topic we learned in class this week was how nonprofit organizations are to the foundation of resolving social issues in spite of the lack of progression in the development of social advancement.  The nonprofit industry is changing because of the ideas and the applications of social development, these charities have learned to harness their power by conquering their roadblock and the issues they have to face.  What I found to be interesting is learning about Nonprofit Starvation Cycle. This phenomenon occurs when nonprofit organizations continuously underinvest in their organizational infrastructure in response to external expectations for low overhead expenditure. What I have also learned this week is how valuable nonprofit volunteers are. The reason why they are so vital to an organization is that they know what the organization needs and they can expand the organization by raising the funding that is crucial is keeping the organization alive. They...
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BUS 374 W08 Reflection Social Innovation and Cooperative Social Responsibility.

 For week 8, our class learned about social innovation and cooperative social responsibility. CSR is a recent concept within social innovation. This concept is based on the idea of a 'triple bottom line' and it focuses on people, the planet, and profit. Cooperative Social Responsibility suggests in order to make all parties happy, make enough income and protect our planet we have to invest equally in people, profit, and the planet.  We also learned about in order to achieve innovation organization we must have institutional listening skills, we must pay attention to the exceptional, design real solutions for real people and remember to focus on human qualities. These four keys make it possible for social innovators to understand who they serve, find the root cause of the problem, and find a simple solution.   A response to a specific reading video, or activity. For instance, did something spark interest, surprise, anger, inspire, or confuse you? I remember the news a...
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BUS 374 W07 Reflection Business Model and Lean Start Up

 In week seven we learned about how new business models and lean startups. A lean start-up is a method for developing businesses and their products. New social ventures also implement these methods.  We learned that the business model canvas is a visual chart that can help new businesses and those that are established being about to document their finances, infrastructure, their value propositions, and the demographics of their customers. When this is properly used, it can be a powerful tool in assisting social entrepreneurs in creating maximum impact through social innovations. It is amazing how many different organizations that can make a positive change for our planet through the gift of social innovation.  How can sharpening your business skills help you help others? What skills are most important? If you have the right skill set, especially in the world of business it can help not only you but the others around you through social innovation and this can be possible w...
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BUS 374 W06 Reflection Raising Captial

 The main topic of this week is that we learned that funding is the most difficult and most common obstacle to social innovation. Many NGOs (nonprofit organizations) have failed in the past to make revenue, therefore relying more on government grants and private donations. It is crucial these organizations find a better way of raising capital so they can keep their NGOs up and running for a very long time. I felt that Michael Porter's TED talk on how we should let corporations solve massive social issues such as clean water, job skills, and hunger was very interesting. I also agree with Mr. Porter's comment that "when a business solves a problem, it makes a profit which lets that solution grow."   Does money buy happiness? Can money change the world? Explain. I cringe at this question because instinctively I want to say "No." But in reality, money can bring security, food, housing, and healthcare which can bring people happiness knowing that they will be oka...
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BUS 374 W05 Reflection Solution & Impact Evaluation

 Reflection Solution & Impact Evaluation In this week's class, we have been studying solution and impact evaluation. We've learned why it's important to measure impact so we can see whether an organization is fulfilling its mission or not. It's a way to see if the organization is successful.  I really enjoyed watching the video "Lasting Impact" by Kevin Star. He was discussing how to analyze organizations on which ones are the most capable of making the most changes. He spoke about three principles which are "Know your mission. Measure the right thing. Measure it well. It's important to know if the organization is making any progress and if the process can be measured and evaluated. If we can measure the right things we can get accurate results and therefore be able to fulfill the mission.  I found the reading assignment very fascinating and the reason why is even though I am familiar with the story of the boy throwing the starfishes back into the...
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BUS 374 W04 Reflection Design Thinking

 Design Thinking The main concept that we learned this week in class was design thinking. That means is we need to be creative in our thinking process of design. This can be such a powerful tool in creating a business model or a brand. Design thinking has four key elements which are "Define the Problem", "Create and Consider Many Options", "Repeat" (which is optional) and finally "Pick a Winner, then Execute".  I really loved watching the video featuring David Kelly "How to build Creative Confidence" Learning that after he survived cancer, he knew his purpose in life was to help others build their creative confidence. I know it is so important to find your purpose in life and I am happy to hear that he found his.  David Kelly spoke about the time when he saw his young friend creating a horse out of clay in the classroom and after another little girl told his friend that it didn't look like a horse at all, his friend became discourag...
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