Chapter 07-2 - Essentials of Entrepreneurship ENTR 2001...

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Essentials of Entrepreneurship ENTR 2001 Session 11 Copyright 2013 Jack M. Kaplan & Anthony C. Warren Patterns of Entrepreneurship Management Chapter 7 Social Entrepreneurship
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Presentation Outline Definitions of Social Entrepreneurship Comparison with Business Entrepreneurship Issues Non-profit or not? Taxation Growth Wealth Creation Stakeholder Motivations Business Models with Examples Pure Hybrid Dual-mission Cooperative Inverse Commons and Social Media with Examples Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Definitions Broad Definition according to William Drayton, 1972: “Social entrepreneurs are individuals with innovative solutions to society's most pressing social problems” Narrower Definition used in this course “Social entrepreneurs use market-oriented entrepreneurial approaches to address social issues” The second definition does not imply necessarily solving “BIG” problems, and therefore can be more locally applied. Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Limitations Social Entrepreneurship is often associated with “green” or so- called “sustainable” initiatives addressing large societal challenges such as global warming, social inequality, pollution and preservation of natural resources Solving these complex problems often requires large long-term investments – major changes in human behavior are needed and challenges must be attacked in multiple ways at many levels The initial wave of venture investments tackling these problems has already passed its peak Social entrepreneurs are learning to tackle smaller problems which can still have an eventual impact on larger challenges. Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Limitations Social entrepreneurship ventures have many of the attributes of business ventures They share many of the organizational aspects and are driven by founders having an “entrepreneurial mind-set” They should be differentiated from: Charities such as the Red Cross Benevolent Trusts such as the Bill and Melinda Gates Foundation Non-Governmental Organizations (NGO’s) such as Greenpeace , Doctor’s without Borders, etc. Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Profit or Non-Profit? The main aim of a social entrepreneurship venture is to create benefits to society Many social ventures are operated as “non-profit” entities However there is no fundamental reason why a social venture should not be profitable Profits can be kept within the venture to expand its influence But profits can also be used to benefit investors, employees, founders or donated to other social ventures Copyright 2013 Jack M. Kaplan & Anthony C. Warren
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Taxation Treatment In the US there are no less than 32 different tax treatments for non-profit enterprises The most common code group is 501(c) If you choose to be a not-for-profit entity then you must seek good tax advice and make sure that you follow the code exactly
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