TOMS – A Social Enterprise

 

A social enterprise creates solutions to social issues with the use of business principles. Blake Mycoskie the founder of TOMS created this company in 2006 after visiting Argentina. Mr. Mycoskie created a business model that was based on sustainable giving; this is being accomplished by the one for one model. Sustainability is based on the triple bottom line that includes a social, environmental, and economic measure. TOMS also provides shoes that are made of vegan and recycled material. The value proposition of TOMS is that for every pair of shoes consumers purchase, TOMS will provide a new pair of shoes to needy children in developing countries. They are model citizens for creating shared value as a socially responsible corporation. Along with creating profits for themselves, they are improving social conditions around the world. As a result, they are partnered with 75 shoe giving partners who empower education. TOMS believe that in order to alleviate poverty, children must be educated to obtain well-paying jobs. TOMS has also expanded their business model to include providing prescription eyeglasses. Consumer can be assured that needy children are receiving help by accompanying TOMS on a trip where the goods are distributed.

Article: http://boss.blogs.nytimes.com/2013/03/19/questioning-the-toms-shoes-model-for-social-enterprise/?_r=2

Interview with Blake Mycoskie: http://www.cbsnews.com/video/watch/?id=50149531n

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