People, Planet & Profit
It is striking how often entrepreneurs today talk about the triple bottom line, about how they can serve people and the planet whilst making profit. How can I give back? What impact will my business have on the world?
In moving ahead with their business, co-founders need to be clearly in agreement around the company’s social identity.
Much rubber has been wasted trying to perfect the definition of social innovation. When is a venture truly a social venture? How to balance out profit with doing good? Here are a few clear takes…
1. What is it?
Author Ruth Freedman says: ‘Social entrepreneurs are making the world a better place. Applying capitalist tools to bring about social change.’
2. Sens Mreza has created What is Social Entrepreneurship – an animation defining social ventures.
3. Here we see a video from the World Economic Forum on Social Entrepreneurs:
4. For those seeking a more detailed understanding on nuances, research and initiatives in the area, Dr, James Tansey – Sauder Faculty and Director of the ISIS Research Centre – has written this detailed Social Innovation Primer.
In Your World
1. What are 2 businesses that have impressed you with their social innovation and impact? How so? Be specific.
2. What role do you see social innovations as having in your own venture? Be Specific. What are some concrete things you could do?