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63 Issue 3 - 2018 Ignited.global
MOVING THE
WORLD TO A
BETTER PLACE
BUSINESS, SOCIAL
ENTREPRENEURSHIP,
AND SOCIAL GOOD
By Mary Kate Naatus Ph.D., Mike Caslin, Joe Szocik, Tony DiMarco, and Charlie Venti
64Inner Compass
INTRODUCTION
Our Jesuit colleges and universities around the globe are uniquely
positioned to educate students to confront societal problems and ad-
vance social justice, which is part of the core mission and values of a
Jesuit education. One lens through which a growing number of our
higher education institutions are boosting their community impact is
through social entrepreneurship education and development. Due to
its higher order, more holistic role as an ethical model of entrepre-
neurship that encourages “innovative use of resources to explore and
exploit opportunities that meet a social need in a sustainable man-
ner” (Sud et. al, 2009) and its potential as an effective mechanism
for generating economic, social and environmental value (Brenzei,
2012), programs in social entrepreneurship are being explored and
developed by many colleges and universities, though there is signifi-
cant variation in si e and scope his article describes E ’s ocial
Entrepreneur Systems (SES) Institute, that assists colleges to develop
and deploy social entrepreneurship education to advance social good
and brings a proven model of teaching, learning and application to
accelerate the development, growth and impact of social enterprises,
driven by undergraduates, graduates and supportive faculty.
GCSEN, The Global Center for Social Entrepreneurship Network Foun-
dation, is an approved c non profit educational founda-
tion http www gcsen com he E nstitute’s goal is o move
the world to a better place, one campus and one local economy at a
time.”
he E nstitute was briefly described in E ’s paper presented,
by E ’s E , ichael aslin, and coauthor r ary ate aatus
of aint eter’s niversity, at the conference he valu-
able faculty and administrative feedback we received assisted us to
more fully develop the E model and present it at the th nnu-
al Social Entrepreneurship Conference sponsored by Northeastern
more c im chool of usiness and the niversity of outhern
alifornia arshall chool of usiness
he E nstitute odel aligns with leading foundations calls for
social renewal e g , the ase oundation merica eeds ig deas to
eal ur ivides rea ing ood by integrating updated
social entrepreneurship education with preparing social entrepre-
neurs to form social enterprises that deliver economic and social val-
ue as part of an overall community economic development program.
Our article will provide the reader with an overview of the SES Insti-
tute by briefly reviewing its impact in three main areas, rac ademic
ystem, lace ased Economic evelopment and tart p to cale
egional Ecosystem odel
PART 1: BACKGROUND
The SES Institute has drawn on current research related to social
entrepreneurship education and economic development. Research by
a number of experts has stressed the need to upgrade social entrepre-
neur education by adding so called soft s ills such as collaboration
and systems thin ing to traditional founder s ills t the same time,
there is a growing call to re imagine capitalism by business leaders such as r i-
chael Porter (Harvard Business School), Sir Richard Branson (Founder of the Virgin
Group) policy experts, political leaders and others across the political spectrum.
igure presents some of the terms identified with sta eholder capitalism ,
along with some of the terms applied to hybrid organizations combining revenue
and social value, and emerging forms of finance available to triple bottom line
enterprises. There is also a growing body of research and best practices related to
Place-Based community economic development, such as the “pipeline” approach
to upgrading skills of social entrepreneurs and supporting the growth of social
enterprises in communities.
The need for a fresh approach to economic development was further supported
by the latest research by the c insey lobal ndex and others summari ed under
icro and acro economic challenges
Micro-Level Economic Challenges
•“Among higher education attendees, student loan defaults which
haveacceleratedpast8million+(occurringevery27secondsdaily)
and underemployment and unemployment approaching 50% for the
class of 2013 and beyond.
•“Not-In-Labor Force Citizens 94,610,000 (29% of population)”
•“Business Starts in USA now at a 40 year low”
•“The under 30 yrs. and owning a business now at a 30 year low”
Macro-Level Economic Challenges
•While a small number of high-growth metropolitan areas have
bounced back strongly in the recovery, real median household in-
comes remain below their pre-2000 peaks, in almost two-thirds of
the 3,142 US counties and county equivalents.
65 Issue 3 - 2018 Ignited.global
The SES Institute model aligns with the Case Foundation (Breaking Good10.23.17))and the Economist.
The Case Foundation reported that “America Needs Big Ideas to Heal Our Divides” noting that “Civic
energy is going to have to come from the ground up to strengthen social cohesion, civic participation, and
our ability to solve big challenges together.”
n addition, the Economist’s recent article eft ehind ow to elp laces urt by lobali ation
(10.21.17) elaborates on the importance of place-based economic development and innovation to trans-
form our urban areas and boost our small businesses and commercial corridors that have been declining
over the decades. The article presented suggestions on policies that had either proven their worth or held
out the promise of being more effective than failed approaches of the past. One such recommendation,
older still would be to expand the mission of local colleges, specifically called for higher education
institutions to step forward to thoughtfully become engaged in this development process, thus supporting
entrepreneurs in the process t was noted that the success of land grant universities in merica helped
fuel the agricultural, and manufacturing indus-
tries by providing technical education to young
farmers and engineers. Under the heading,
Welcome to the lace ge the article reported
a social cost of failed policies, “Assuaging the an-
ger of the left behind means reali ing that places
matter too.” The concerted effort by colleges and
universities to support entrepreneurs and social
enterprises in the context of broader communi-
ty development initiatives, helps to enhance the
university’s local economic impact as well as con-
tribute long-term to place-based economic devel-
opment through job creation, trade and increased
rates of diverse business ownership
PART 2: STRUCTURE
PRAC-ADEMIC SYSTEM
he rac ademic system is practitioner focused,
supported with academic rigor, and updates so-
cial entrepreneur education for the challenges of
the dawning global millennial driven economy.
It combines state-of-the-art best practices from
leading figures of social entrepreneurship, prov-
en principles from entrepreneurship, and current
innovative management techniques, such as bal-
anced score card and open book management
and sustainable community frameworks.
Social entrepreneur education to date has been
heavily influenced by material drawn from busi-
ness courses and non profit management he
demands and challenges of creating and
scaling social impact, developing sustain-
able solutions and innovative business mod-
els require social entrepreneur education to
equip social entrepreneurs with additional
skills that include managing a successful
enterprise eople, lanet, rofit, lace
and also include tools for organizing social
change. The 3 components below describe
the key elements of the SES program.
ourse ontent rac ademic ystem’s
evel ertification, prepares social en-
trepreneurs to Launch and Sustain Social
Enterprises that deliver Social Impact and
offer career and resume building badging.
2-Course Design Meet the needs of accredit-
ed undergraduates, graduate students and
adult learners.
3-Course Delivery The SES Institute offers
intensive 70 hour undergraduate and grad-
uate course ware Blended Learning Webi-
nars supported by ’s pen ed platform
and coaching.
Figure 2 outlines initial phases of the
rac ademic level ertification system,
that prepares social entrepreneurs to orga-
nize the work associated with developing
sustainable solutions, business models,
positive impact, and transformative scale.
What
The three pillars of sustainable develop-
ment are often referred to as triple bottom line impact eople, lanet, rofit E ’s rac ademic system
has emphasized 4P Impact by adding “Place” to the more widespread triple bottom line formula.
Why
dding lace to create mpact reflects ohanna air’s E E usiness chool , pain insight that
he defining purpose of social entrepreneurship, regardless of the financial model is to effect social change
FIGURE 4
FIGURE 3
67 Issue 3 - 2018 Ignited.global
by altering the social, economic, and political day to day realities at the local level.” Mair
provides us with an important reminder that” big ideas”, “grand strategies” must ultimately be
implemented at the local level if they are to be effective and long-lasting.
How
In order for the SES Goal “moving the world to a better place one campus and one local
economy at a time”, to be realized, stakeholders including social entrepreneurs, college and
community officials, re uire both a framewor for setting sustainable goals and a methodology
for organi ing the wor to meet those goals he tar ommunity ating ystem figure ,
developed by ICLEI-Local Governments for Sustainability, is used by communities around the
world to plan and track their sustainable programs.
Organizing the participation of the full range of community stakeholders to develop a sus-
tainable community economy is illustrated by the Social Entrepreneurial Ecosystem chart from
rthur opa ’s article, eeper oo t ocial Entrepreneurship ey rends n nd
eyond
Figure 4 illustrates that Higher Education is one of many community entities collaborating on
economic development; Market orientation is balance by social orientation and Ethics, Norms,
and Values are part of the process.
What
The SES Institute provides the organizational structure to support the development of the
rac ademic system and the lace ased ustainable ommunity evelopment process
y E hopes to accelerate its E nstitute by
ccelerating social entrepreneurship programs, from start up to scale, with academic
institutions
ertifying , social entrepreneurs who have begun their seven levels of rac ademic
education as ertified eaning a ers s
ctivating and supporting active , social enterprises
he goals of the E nstitute should be considered as an initial arrival point of the nstitute’s
first phase, a foundation of social entrepreneur meaning ma ers generating impact, and
communities serving as examples of the uality of life that can be achieved with the aid of
social enterprises dedicated to producing 4P Impact. The
E nitiative will be scaled up in subse uent phases by
expanding to other colleges around the globe.
Why
The SES Institute provides Colleges and Universities
with a flexible approach to customi ing their prac adem-
ic system and role in Place-based development.
How
igure provides examples as to how college can
scale-up their SES Institute program.
Phase 5 of our model includes developing an SES Eco-
system that is comprised of both Internal and External
ecosystems.
Examples of the internal campus centric ecosystem
could include the E institute’s social entrepreneur
Boot Camp, Executive Education, accredited courses
on social entrepreneurship including cross-disciplinary
courses blending social entrepreneurship courses with
subjects such as English, History, Computer Science,
Sociology and others. In addition, the SES Institute can
assist universities in designing certificate programs, i-
nors, a ors, aster’s, c and h degrees or other
continuing education courses and programs or special
topics in 4P social Entrepreneurship. Additional services
that can be provided, that would be instrumental to de-
liver internally to ensure longevity and long-term suc-
cess include mentoring and coaching as well as facilitat-
ed interaction of student entrepreneurs with community
residents and entrepreneurs
through hybrid courses and mi-
cro-internships, which will be
described below.
The external or communi-
ty-centric ecosystem to enhance
to broader university impact
on the surrounding area, could
also include student internships
with local groups designed to
“apprentice with the problem”,
ecosystem mapping of the local/
regional enterprise ecosystem,
utilizing the “pipeline” and oth-
er methodologies to help grow
social enterprises, consulting
and technical assistance provid-
ed to local businesses, courses
supporting the development of
“Intrapreneurs” at local employ-
ers. Finally, an important area to maximize impact through
external partners, there should be cross-sector collaboration
with local sta eholders e g , businesses, elected officials, ’s,
advocacy groups and local community residents on sustainable
development.
PART 3: PROGRESS-TO-DATE
Wheaton ollege of orton is the E nstitute’s first
campus partner, funded by the visionary leadership of The
iana avis pencer oundation aint eter’s niversity and
the E institute will be collaborating on the creation of a new
rac ademic social entrepreneur course with intended launch in
fall , and in this case, the esuit mission will be specifically
infused into the course description and tudent earning ut-
comes to ensure mission-alignment as social entrepreneurship
initiatives are developed.
In addition to drawing on two years of primary research
E has tested the rac ademic system in four ocial
Entrepreneur oot amps designed for undergraduates and
working adults.
roven results re ost test nowledge gains in four E
oot amps, conducted with undergraduates and adult learn-
ers, ranged from to and with an overall average
gain of
usiness formulation rate of nearly for oot amp grad-
uates.
onfidence grows by pre to post program
ecent program ran ings of ife hanging earning Experi-
ence voted yes
et romoter core of graduates of E program to refer
peers
PART 4: SUMMARY
There is an urgent need to address the growing divisions in
our society and build more inclusive communities, campuses,
and economies t the same time, our higher education institutions are facing growing
challenges in our rapidly changing global economy with constantly evolving technolo-
gies impacting the nature of wor and the whole employment landscape rograms such
as the E nstitute can help to thoughtfully address these challenges as part of a broad-
er development plan and increase social good on three levels. First, colleges increase
the number of social entrepreneurs prepared to tackle societal problems and become
change agents, which is particularly fitting at esuit institutions because it aligns with
core values and mission econdly, colleges can assist community sta eholders to de-
velop place based sustainable economies that enhance residents’ overall uality of life
hirdly, this type of model and approach can, over time, ma e a significant contribution
to developing stakeholder capitalism that balances social value with revenue.
he E nstitute provides a research based, practitioner focused, plan of action to
move the world to a better place one campus and one local economy at a time” through
the combined efforts of social entrepreneurs, social enterprises, and community stake-
holders collaborating to develop, sustainable communities.
parting thought, the E nstitute also provides usiness chools with an opportunity
for growth and renewal by applying “social entrepreneurship in the context of a trans-
formation of capitalism that arvard’s r ichael orter argues is already under way
o orter, tudents educated in social entrepreneurship should be catalysts for this
transformation working with practitioners as mentors, advisers, and consultants, and a
wider change must include rethinking the entire value chain of the business school to
create shared value in its operations and societal impact”.
ABOUT THE AUTHORS
ary ate aatus is an ssociate rofessor of usiness at aint eter s niversity
he is currently serving as nterim ean of the chool of usiness and is also the
Director of Research for the Ignite Institute.
i e aslin is the ounder E of the lobal enter for ocial Entrepreneurship
etwor oundation E and an d unct ecturer rofessor of ocial Entrepre-
neurship at ew alt chool of usiness
oe oci is E ’s anaging irector of esearch and nnovation
ony i arco is E ’s anaging irector of lobal latforms and Entrepre-
neur in esidence and d unct ecturer at ew alt chool of usiness
harlie enti is a trategic onsultant to E and an d unct ecturer at utgers
niversity chool of ocial Wor69 Issue 3 - 2018

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2018 Inner Compass Magazine - Moving the World to a Better Place: Business, Social Entrepreneurship, and Social Good

  • 1. 63 Issue 3 - 2018 Ignited.global
  • 2. MOVING THE WORLD TO A BETTER PLACE BUSINESS, SOCIAL ENTREPRENEURSHIP, AND SOCIAL GOOD By Mary Kate Naatus Ph.D., Mike Caslin, Joe Szocik, Tony DiMarco, and Charlie Venti 64Inner Compass
  • 3. INTRODUCTION Our Jesuit colleges and universities around the globe are uniquely positioned to educate students to confront societal problems and ad- vance social justice, which is part of the core mission and values of a Jesuit education. One lens through which a growing number of our higher education institutions are boosting their community impact is through social entrepreneurship education and development. Due to its higher order, more holistic role as an ethical model of entrepre- neurship that encourages “innovative use of resources to explore and exploit opportunities that meet a social need in a sustainable man- ner” (Sud et. al, 2009) and its potential as an effective mechanism for generating economic, social and environmental value (Brenzei, 2012), programs in social entrepreneurship are being explored and developed by many colleges and universities, though there is signifi- cant variation in si e and scope his article describes E ’s ocial Entrepreneur Systems (SES) Institute, that assists colleges to develop and deploy social entrepreneurship education to advance social good and brings a proven model of teaching, learning and application to accelerate the development, growth and impact of social enterprises, driven by undergraduates, graduates and supportive faculty. GCSEN, The Global Center for Social Entrepreneurship Network Foun- dation, is an approved c non profit educational founda- tion http www gcsen com he E nstitute’s goal is o move the world to a better place, one campus and one local economy at a time.” he E nstitute was briefly described in E ’s paper presented, by E ’s E , ichael aslin, and coauthor r ary ate aatus of aint eter’s niversity, at the conference he valu- able faculty and administrative feedback we received assisted us to more fully develop the E model and present it at the th nnu- al Social Entrepreneurship Conference sponsored by Northeastern more c im chool of usiness and the niversity of outhern alifornia arshall chool of usiness he E nstitute odel aligns with leading foundations calls for social renewal e g , the ase oundation merica eeds ig deas to eal ur ivides rea ing ood by integrating updated social entrepreneurship education with preparing social entrepre- neurs to form social enterprises that deliver economic and social val- ue as part of an overall community economic development program. Our article will provide the reader with an overview of the SES Insti- tute by briefly reviewing its impact in three main areas, rac ademic ystem, lace ased Economic evelopment and tart p to cale egional Ecosystem odel PART 1: BACKGROUND The SES Institute has drawn on current research related to social entrepreneurship education and economic development. Research by a number of experts has stressed the need to upgrade social entrepre- neur education by adding so called soft s ills such as collaboration and systems thin ing to traditional founder s ills t the same time, there is a growing call to re imagine capitalism by business leaders such as r i- chael Porter (Harvard Business School), Sir Richard Branson (Founder of the Virgin Group) policy experts, political leaders and others across the political spectrum. igure presents some of the terms identified with sta eholder capitalism , along with some of the terms applied to hybrid organizations combining revenue and social value, and emerging forms of finance available to triple bottom line enterprises. There is also a growing body of research and best practices related to Place-Based community economic development, such as the “pipeline” approach to upgrading skills of social entrepreneurs and supporting the growth of social enterprises in communities. The need for a fresh approach to economic development was further supported by the latest research by the c insey lobal ndex and others summari ed under icro and acro economic challenges Micro-Level Economic Challenges •“Among higher education attendees, student loan defaults which haveacceleratedpast8million+(occurringevery27secondsdaily) and underemployment and unemployment approaching 50% for the class of 2013 and beyond. •“Not-In-Labor Force Citizens 94,610,000 (29% of population)” •“Business Starts in USA now at a 40 year low” •“The under 30 yrs. and owning a business now at a 30 year low” Macro-Level Economic Challenges •While a small number of high-growth metropolitan areas have bounced back strongly in the recovery, real median household in- comes remain below their pre-2000 peaks, in almost two-thirds of the 3,142 US counties and county equivalents. 65 Issue 3 - 2018 Ignited.global
  • 4. The SES Institute model aligns with the Case Foundation (Breaking Good10.23.17))and the Economist. The Case Foundation reported that “America Needs Big Ideas to Heal Our Divides” noting that “Civic energy is going to have to come from the ground up to strengthen social cohesion, civic participation, and our ability to solve big challenges together.” n addition, the Economist’s recent article eft ehind ow to elp laces urt by lobali ation (10.21.17) elaborates on the importance of place-based economic development and innovation to trans- form our urban areas and boost our small businesses and commercial corridors that have been declining over the decades. The article presented suggestions on policies that had either proven their worth or held out the promise of being more effective than failed approaches of the past. One such recommendation, older still would be to expand the mission of local colleges, specifically called for higher education institutions to step forward to thoughtfully become engaged in this development process, thus supporting entrepreneurs in the process t was noted that the success of land grant universities in merica helped fuel the agricultural, and manufacturing indus- tries by providing technical education to young farmers and engineers. Under the heading, Welcome to the lace ge the article reported a social cost of failed policies, “Assuaging the an- ger of the left behind means reali ing that places matter too.” The concerted effort by colleges and universities to support entrepreneurs and social enterprises in the context of broader communi- ty development initiatives, helps to enhance the university’s local economic impact as well as con- tribute long-term to place-based economic devel- opment through job creation, trade and increased rates of diverse business ownership PART 2: STRUCTURE PRAC-ADEMIC SYSTEM he rac ademic system is practitioner focused, supported with academic rigor, and updates so- cial entrepreneur education for the challenges of the dawning global millennial driven economy. It combines state-of-the-art best practices from leading figures of social entrepreneurship, prov- en principles from entrepreneurship, and current innovative management techniques, such as bal- anced score card and open book management and sustainable community frameworks. Social entrepreneur education to date has been heavily influenced by material drawn from busi- ness courses and non profit management he
  • 5. demands and challenges of creating and scaling social impact, developing sustain- able solutions and innovative business mod- els require social entrepreneur education to equip social entrepreneurs with additional skills that include managing a successful enterprise eople, lanet, rofit, lace and also include tools for organizing social change. The 3 components below describe the key elements of the SES program. ourse ontent rac ademic ystem’s evel ertification, prepares social en- trepreneurs to Launch and Sustain Social Enterprises that deliver Social Impact and offer career and resume building badging. 2-Course Design Meet the needs of accredit- ed undergraduates, graduate students and adult learners. 3-Course Delivery The SES Institute offers intensive 70 hour undergraduate and grad- uate course ware Blended Learning Webi- nars supported by ’s pen ed platform and coaching. Figure 2 outlines initial phases of the rac ademic level ertification system, that prepares social entrepreneurs to orga- nize the work associated with developing sustainable solutions, business models, positive impact, and transformative scale. What The three pillars of sustainable develop- ment are often referred to as triple bottom line impact eople, lanet, rofit E ’s rac ademic system has emphasized 4P Impact by adding “Place” to the more widespread triple bottom line formula. Why dding lace to create mpact reflects ohanna air’s E E usiness chool , pain insight that he defining purpose of social entrepreneurship, regardless of the financial model is to effect social change FIGURE 4 FIGURE 3 67 Issue 3 - 2018 Ignited.global
  • 6. by altering the social, economic, and political day to day realities at the local level.” Mair provides us with an important reminder that” big ideas”, “grand strategies” must ultimately be implemented at the local level if they are to be effective and long-lasting. How In order for the SES Goal “moving the world to a better place one campus and one local economy at a time”, to be realized, stakeholders including social entrepreneurs, college and community officials, re uire both a framewor for setting sustainable goals and a methodology for organi ing the wor to meet those goals he tar ommunity ating ystem figure , developed by ICLEI-Local Governments for Sustainability, is used by communities around the world to plan and track their sustainable programs. Organizing the participation of the full range of community stakeholders to develop a sus- tainable community economy is illustrated by the Social Entrepreneurial Ecosystem chart from rthur opa ’s article, eeper oo t ocial Entrepreneurship ey rends n nd eyond Figure 4 illustrates that Higher Education is one of many community entities collaborating on economic development; Market orientation is balance by social orientation and Ethics, Norms, and Values are part of the process. What The SES Institute provides the organizational structure to support the development of the rac ademic system and the lace ased ustainable ommunity evelopment process y E hopes to accelerate its E nstitute by ccelerating social entrepreneurship programs, from start up to scale, with academic institutions ertifying , social entrepreneurs who have begun their seven levels of rac ademic education as ertified eaning a ers s ctivating and supporting active , social enterprises he goals of the E nstitute should be considered as an initial arrival point of the nstitute’s first phase, a foundation of social entrepreneur meaning ma ers generating impact, and communities serving as examples of the uality of life that can be achieved with the aid of social enterprises dedicated to producing 4P Impact. The E nitiative will be scaled up in subse uent phases by expanding to other colleges around the globe. Why The SES Institute provides Colleges and Universities with a flexible approach to customi ing their prac adem- ic system and role in Place-based development. How igure provides examples as to how college can scale-up their SES Institute program. Phase 5 of our model includes developing an SES Eco- system that is comprised of both Internal and External ecosystems. Examples of the internal campus centric ecosystem could include the E institute’s social entrepreneur Boot Camp, Executive Education, accredited courses on social entrepreneurship including cross-disciplinary courses blending social entrepreneurship courses with subjects such as English, History, Computer Science, Sociology and others. In addition, the SES Institute can assist universities in designing certificate programs, i- nors, a ors, aster’s, c and h degrees or other continuing education courses and programs or special topics in 4P social Entrepreneurship. Additional services that can be provided, that would be instrumental to de- liver internally to ensure longevity and long-term suc- cess include mentoring and coaching as well as facilitat- ed interaction of student entrepreneurs with community
  • 7. residents and entrepreneurs through hybrid courses and mi- cro-internships, which will be described below. The external or communi- ty-centric ecosystem to enhance to broader university impact on the surrounding area, could also include student internships with local groups designed to “apprentice with the problem”, ecosystem mapping of the local/ regional enterprise ecosystem, utilizing the “pipeline” and oth- er methodologies to help grow social enterprises, consulting and technical assistance provid- ed to local businesses, courses supporting the development of “Intrapreneurs” at local employ- ers. Finally, an important area to maximize impact through external partners, there should be cross-sector collaboration with local sta eholders e g , businesses, elected officials, ’s, advocacy groups and local community residents on sustainable development. PART 3: PROGRESS-TO-DATE Wheaton ollege of orton is the E nstitute’s first campus partner, funded by the visionary leadership of The iana avis pencer oundation aint eter’s niversity and the E institute will be collaborating on the creation of a new rac ademic social entrepreneur course with intended launch in fall , and in this case, the esuit mission will be specifically infused into the course description and tudent earning ut- comes to ensure mission-alignment as social entrepreneurship initiatives are developed. In addition to drawing on two years of primary research E has tested the rac ademic system in four ocial Entrepreneur oot amps designed for undergraduates and working adults. roven results re ost test nowledge gains in four E oot amps, conducted with undergraduates and adult learn- ers, ranged from to and with an overall average gain of usiness formulation rate of nearly for oot amp grad- uates. onfidence grows by pre to post program ecent program ran ings of ife hanging earning Experi- ence voted yes et romoter core of graduates of E program to refer peers PART 4: SUMMARY There is an urgent need to address the growing divisions in our society and build more inclusive communities, campuses, and economies t the same time, our higher education institutions are facing growing challenges in our rapidly changing global economy with constantly evolving technolo- gies impacting the nature of wor and the whole employment landscape rograms such as the E nstitute can help to thoughtfully address these challenges as part of a broad- er development plan and increase social good on three levels. First, colleges increase the number of social entrepreneurs prepared to tackle societal problems and become change agents, which is particularly fitting at esuit institutions because it aligns with core values and mission econdly, colleges can assist community sta eholders to de- velop place based sustainable economies that enhance residents’ overall uality of life hirdly, this type of model and approach can, over time, ma e a significant contribution to developing stakeholder capitalism that balances social value with revenue. he E nstitute provides a research based, practitioner focused, plan of action to move the world to a better place one campus and one local economy at a time” through the combined efforts of social entrepreneurs, social enterprises, and community stake- holders collaborating to develop, sustainable communities. parting thought, the E nstitute also provides usiness chools with an opportunity for growth and renewal by applying “social entrepreneurship in the context of a trans- formation of capitalism that arvard’s r ichael orter argues is already under way o orter, tudents educated in social entrepreneurship should be catalysts for this transformation working with practitioners as mentors, advisers, and consultants, and a wider change must include rethinking the entire value chain of the business school to create shared value in its operations and societal impact”. ABOUT THE AUTHORS ary ate aatus is an ssociate rofessor of usiness at aint eter s niversity he is currently serving as nterim ean of the chool of usiness and is also the Director of Research for the Ignite Institute. i e aslin is the ounder E of the lobal enter for ocial Entrepreneurship etwor oundation E and an d unct ecturer rofessor of ocial Entrepre- neurship at ew alt chool of usiness oe oci is E ’s anaging irector of esearch and nnovation ony i arco is E ’s anaging irector of lobal latforms and Entrepre- neur in esidence and d unct ecturer at ew alt chool of usiness harlie enti is a trategic onsultant to E and an d unct ecturer at utgers niversity chool of ocial Wor69 Issue 3 - 2018