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ABDM4233 ENTREPRENEURSHIP   From Ideas to Social       Enterprise                  by             Stephen Ong     Principa...
SocialEntrepreneurship                   1-2
Grameen : Empowering      People. Changing Lives.   His observations in a village in 1974:    Craftspeople were skilled, ...
Persistent SE concepts   SE addresses social problems or needs    not met by private markets or    government       Inno...
Process steps in          entrepreneurship (1)   Social entrepreneurs recognize    opportunities to create social value  ...
Process steps in             entrepreneurship (2)   Resource needs are determined and    necessary resources acquired    ...
Figure 1.1 The process of Social       Entrepreneurship                  Opportunity recognition                  • Social...
The landscape of SE   Significant growth of the nonprofit    sector     3% annual growth in number of nonprofits      fr...
Figure 1.2 Social Venture Growth           1996 - 2004                                           8%                       ...
Categories of social                      venture/SE1.      Start a new product or service2.      Expand an existing produ...
Explaining entrepreneurship                (1)   Environment     Entrepreneurship is stimulated by a      conducive envi...
Explaining entrepreneurship                (2)   Personal traits       Entrepreneurship occurs because of        entrepr...
Applying entrepreneurship             theory to SE   These theories apply very well to SE   Environment, resources and  ...
Figure 1.3 The forces on social           entrepreneurship                                                External forcesE...
Characteristics of social            entrepreneurs   Dees (2001): “Change agents in the    social sector,” characterized ...
Psychological characteristics of        entrepreneurs   Innovativeness   Achievement orientation   Independence   Sens...
Figure 1.4 The characteristics of     a social entrepreneur   Innate characteristicsEducation and experience      Innovati...
Social entrepreneurs as …   Leaders      Shape a vision that change public       attitudes      Have significant person...
Myths about SE (1)   Social entrepreneurs are against    business       Many social entrepreneurs come from        busin...
Myths about SE (2)   Social entrepreneurs run nonprofits.     Some do, some don’t – many legal forms      support SE   ...
One Peace at a Timehttp://www.youtube.com/watch?v=Z4UfvjMLwaA              Video               by        The Nobelity Proj...
World Income Distribution                            22
People Living in Poverty, 1981-2002    7.81% of Malaysian pop<$2                 vs       KLCC cost of RM1.8B             ...
The 12 Most and Least Populated Countries       and Their Per Capita Income, 2005Malaysia  28m $7,760 in 2010Singapore 5m ...
UN Millennium Development Goals 2015                                   25
UN Millennium Development Goals 2015             (continued)                                   26
Income and Happiness: Comparing Countries                                        27
Further Reading   Scarborough, Norman, M. 2011. Essentials of    Entrepreneurship and Small Business    Management. 6th e...
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Abdm4223 lecture week 2 part 2 110512

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Social Entrepreneurship

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    1. 1. ABDM4233 ENTREPRENEURSHIP From Ideas to Social Enterprise by Stephen Ong Principal Lecturer (Specialist)Visiting Professor, Shenzhen University
    2. 2. SocialEntrepreneurship 1-2
    3. 3. Grameen : Empowering People. Changing Lives. His observations in a village in 1974: Craftspeople were skilled, but returns to those skills were limited by credit availability The opportunity he saw: Micro-loans, with no collateral and low interest. This would boost the return to craftspeople The results: Very high loan repayment; Creation of the Grameen Bank; Nationwide adoption The recognition: Professor Yunus won the 2006 Nobel Peace Prize. Grameen is a famous model of SOCIAL ENTREPRENEURSHIP (“SE”) 2-3
    4. 4. Persistent SE concepts SE addresses social problems or needs not met by private markets or government  Innovative solutions, unmet needs, private action SE is motivated primarily by social benefit  Social mission + entrepreneurial behavior SE generally works with market forces  Combining social purpose with financial sustainability 2- 4
    5. 5. Process steps in entrepreneurship (1) Social entrepreneurs recognize opportunities to create social value  Seeing opportunity where others see only threats and tragedies  Addressing present or latent demand Opportunity leads an enterprise concept  Identify new products or markets  Identify and define desired social rewards and how they are to be measured 2-5
    6. 6. Process steps in entrepreneurship (2) Resource needs are determined and necessary resources acquired  Financial resources, human resources (labour), and human capital (expertise) Launch and grow the social venture  Follow a strategy tied to metrics of success Goal attainment and beyond  What to do after success is attained  Shut down, redefine service, continue, or merge Figure 1.1 portrays this process 2- 6
    7. 7. Figure 1.1 The process of Social Entrepreneurship Opportunity recognition • Social problems • Unmet needs Concept development • Identification of social rewards • New products or markets Resource determination and acquisition • Financial resources • Human resources • Human capital Launch and venture growth • Measurement of returns • Expansion and change Goal attainment • Succeed in mission and shut down • Succeed in mission and find new opportunity • Attain a stable service equilibrium • Integrate into another venture 2- 7
    8. 8. The landscape of SE Significant growth of the nonprofit sector  3% annual growth in number of nonprofits from 1996 to 2004  Growth is higher in public charities and private foundations than for nonprofits in general Figure 1.2 portrays this growth 2-8
    9. 9. Figure 1.2 Social Venture Growth 1996 - 2004 8% 7% Average annual growth rate, 1996-2004 7% 6% 6% 5% 4% 3% 3% 2% 1% 0% All nonprofits Public charities Private foundations 2-9
    10. 10. Categories of social venture/SE1. Start a new product or service2. Expand an existing product or service3. Expand an existing activity for a new group of people4. Expand an existing activity to a new geographic area5. Acquire an existing business6. Partner or merge with an existing businessSource: Brinckerhoff, Peter C. (2000). Social Entrepreneurship: The Arts of Mission-Based Venture Development. New York: Wiley, pp. 16-21 2 - 10
    11. 11. Explaining entrepreneurship (1) Environment  Entrepreneurship is stimulated by a conducive environment Resources  Resource availability (financial, human resources, human capital) stimulates entrepreneurship Perturbation  Entrepreneurship occurs when people are displaced from their routines 2 - 11
    12. 12. Explaining entrepreneurship (2) Personal traits  Entrepreneurship occurs because of entrepreneurial personalities and types Preparation  Entrepreneurship can be taught and learned through education and experience 2 - 12
    13. 13. Applying entrepreneurship theory to SE These theories apply very well to SE Environment, resources and perturbation are primarily external forces Personal traits and preparation are primarily internal forces This theory helps to explain SE, predict where it will occur, and suggest how to increase it Figure 1.3 portrays these forces 2 - 13
    14. 14. Figure 1.3 The forces on social entrepreneurship External forcesEnvironmental factors Perturbation of the environment• Social climate conducive to social entrepreneurship Availability of financial and • Political change nonfinancial resources • Cultural change• Political climate that facilitates • Economic change social innovation Social entrepreneurship process begins Entrepreneurial Preparation to exploit personality traits opportunities • Education • Experience Internal forces 2 - 14
    15. 15. Characteristics of social entrepreneurs Dees (2001): “Change agents in the social sector,” characterized by …  Mission orientation  Pursuing opportunities  Continuous innovation, adaptation, learning  Bold action regardless of resource limits  Heightened accountability to constituents Various potential impacts of demographics, gender, personal experience But do these innate traits explain SE? 2 - 15
    16. 16. Psychological characteristics of entrepreneurs Innovativeness Achievement orientation Independence Sense of control over destiny Low aversion to risk (i.e., willing to accept risk) Tolerance for ambiguity For social entrepreneurs, community orientation and social concern are important psychological characteristics 2 - 16
    17. 17. Figure 1.4 The characteristics of a social entrepreneur Innate characteristicsEducation and experience Innovativeness Entrepreneurial Achievement orientation orientation Socially-entrepreneurial Independence orientationSense of control over destiny Community awareness And social concern Low risk aversion Tolerance for ambiguity 2 - 17
    18. 18. Social entrepreneurs as … Leaders  Shape a vision that change public attitudes  Have significant personal credibility  Generate commitment in terms of values to achieve collective purpose Personalities  Achievers  Super-salesman  Real Manager  Expert idea generator 2- 18
    19. 19. Myths about SE (1) Social entrepreneurs are against business  Many social entrepreneurs come from business and have succeeded in business The difference between commercial and social entrepreneurship is greed  Assumes that all commercial entrepreneurs are greedy, and that none are philanthropic 2- 19
    20. 20. Myths about SE (2) Social entrepreneurs run nonprofits.  Some do, some don’t – many legal forms support SE Social entrepreneurs are born, not made  Implies no role at all for nurture, that only innate traits determine who does what Myths for which there is no evidence  Social entrepreneurs are misfits  Social entrepreneurs usually fail  Social entrepreneurs love risk 2 - 20
    21. 21. One Peace at a Timehttp://www.youtube.com/watch?v=Z4UfvjMLwaA Video by The Nobelity Project 1 - 21
    22. 22. World Income Distribution 22
    23. 23. People Living in Poverty, 1981-2002 7.81% of Malaysian pop<$2 vs KLCC cost of RM1.8B in 2004 23
    24. 24. The 12 Most and Least Populated Countries and Their Per Capita Income, 2005Malaysia 28m $7,760 in 2010Singapore 5m $40,070 Botswana 2m$6,740 24
    25. 25. UN Millennium Development Goals 2015 25
    26. 26. UN Millennium Development Goals 2015 (continued) 26
    27. 27. Income and Happiness: Comparing Countries 27
    28. 28. Further Reading Scarborough, Norman, M. 2011. Essentials of Entrepreneurship and Small Business Management. 6th edition. Pearson. Brooks, Arthur C. (2006) Social Entrepreneurship : A Modern Approach to Social Value Creation. Pearson Barringer, Bruce R. & Ireland, R. Duane, 2011 Entrepreneurship – Successfully launching new ventures 4th edition, Pearson. Schaper, M., Volery, T., Weber, P. & Lewis, K. 2011. Entrepreneurship and Small Business. 3rd Asia Pacific edition. John Wiley.
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