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A Little Breakdown #2
Transcript of A Little Breakdown #2
aid "Impact investing covers that category of investment, which is viewed as 'sustainable', generating financial returns by integrating consideration of social and environmental factors into the investment strategy." -Jed Emerson "Corporate social responsibility encompasses not only what companies do with their profits, but also how they make them. It goes beyond philanthropy and compliance and addresses how companies manage their economic, social, and environmental impacts, as well as their relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm." -Harvard Kennedy School, CSR Initiative "A social business is a non-loss, non-dividend company designed to address a social objective. The profits are used to expand the company’s reach and improve the product/service." -Muhammad Yunus
"A social enterprise is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.” -UK Government, Social Enterprise Action Plan 2006 "must be organized and operated exclusively for exempt purposes (charitable, eduactional, scientific, etc) set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. " -IRS philanthropy venture philanthropy patient capital The Skoll World Forum describes social entrepreneurs as having 3 characteristics:
"1. Social focus. The primary intent of the individual, network or organisation is to generate a public good.
2. Innovation. A social entrepreneur may develop new products or services, use existing products and services in new, more socially productive ways, or redefine social problems and suggest radical new ideas to solve them.
3. Market-orientation. A social entrepreneur adopts a performance-driven, outward-looking and competitive approach to solving social and environmental problems."
Acumen, Patient Capital's pioneer, defines it as:
"* Long time horizons for the investment
* A goal of maximizing social, rather than financial, returns
* Providing management support to help new business models thrive
* The flexibility to seek partnerships with governments and corporations through subsidy and co-investment when doing so may be beneficial to low-income customers."
"* Willingness to experiment and try new approaches.
* Focus on measurable results: donors and grantees assess progress based on mutually determined benchmarks.
* Readiness to shift funds between organizations and goals based on tracking those measurable results.
* Giving financial, intellectual, and human capital.
* Funding on a multi-year basis - typically a minimum of 3 years, on average 5-7 years.
* Focus on capacity building, instead of programs or general operating expenses.
* High involvement by donors with their grantees. For example, some donors will take positions on the boards of the non-profits they fund."
“private initiatives for public good, focusing on quality of life.” -Wikipedia "a voluntary transfer of public resources, from a government to another independent government, to an NGO, or to an international organization, one goal of which is to better the human condition in the country receiving the aid." -USAID official Carol Lancaster There's also the term 'social business', which many classify as a business that can focus on profit maximisation in conjunction with social value creation. Muhammad Yunus uses the term social business more finitely and defines it as: ... though a lot of corporations have programs and activities labelled CSR, the real stuff lives up to this: this is a step further than socially responsible investing, which typically screens out 'negative investments,' but does not always seek to *directly* create positive social value... business Social Innovation A guide to the buzz words All of these activities can be classed as social innovation, but not every non-profit, philanthropist, etc. is socially innovative. Here's how they compliment each other and an example of each that is socially innovative. The Ushahidi Platform allows anyone to gather distributed data via SMS, email or web and visualize it on a map or timeline. This creates a simple way of aggregating information from the public for the use of aid organisations responding to crises. Teach for America is building the movement to eliminate educational inequity by enlisting the world's most promising future leaders in the effort.
They recruit outstanding recent college graduates from all backgrounds and career interests to commit to teach for two years in urban and rural public schools.
Enlisting additional high-quality teachers is not the ultimate solution. TFA believes that the best hope for ending educational inequity is to build a massive force of leaders in all fields who have the perspective and conviction that come from teaching successfully in low-income communities. APOPO trains detection rats to enhance life-saving actions. APOPO is a social enterprise that researches, develops, and deploys detection rat technology for humanitarian purposes. They currently train rats to detect landmines and tuberculosis. This technology is cheaper, more efficient, and often more reliable than most widely available mine clearance and TB detection techniques. The Business Dictionary defines 'business' as:"(An) economic system in which goods and services are exchanged for one another or money, on the basis of their perceived worth. Every business requires some form of investment and a sufficient number of customers to whom its output can be sold at profit on a consistent basis." Acumen Fund, makes debt or equity investment in an early-stage enterprise providing low-income consumers with access to healthcare, water, housing, alternative energy, or agricultural inputs. The patient capital Acumen provides is accompanied by a wide range of management support services nurturing the company to scale. Our aim in investing patient capital is not to seek high returns, but rather to jump-start the creation of enterprises that improve the ability of the poor to live with dignity.
The Draper Richards Foundation provides selected social entrepreneurs with funding of $100,000 annually for three years. The funds are specifically and solely for entrepreneurs starting new non-profit organizations. The Draper Richards Fellowships are highly selective. We only award six fellowships per year so we can fully engage with our portfolio of grantee organizations. The Bill & Melinda Gates Foundation is the largest transparently operated private foundation in the world. The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and in America, to expand educational opportunities and access to information technology. The scale of the foundation and the way it seeks to apply business techniques to giving makes it one of the leaders in the philanthrocapitalism revolution in global philanthropy, though the foundation itself notes that the philanthropic role has limitations. Elevar Equity is a leading global growth investor focused on the underserved four billion at the base of the pyramid in developing countries. Elevar makes equity capital available to entrepreneurs providing microfinance, financial and other services to customers at the base of the economic pyramid in emerging markets. Their companies understand that customer focus, innovation, growth, and profitability combine to create opportunity and prosperity in local communities. The Elevar philiosophy revolves around investing for social and economic returns: returns based on open access for everyone to life changing services.
e.g. Walmart is developing a worldwide sustainable product index. The index will establish a single source of data for evaluating the sustainability of products.
“Customers want products that are more efficient, that last longer and perform better. And increasingly they want information about the entire lifecycle of a product so they can feel good about buying it. They want to know that the materials in the product are safe, that it was made well and that it was produced in a responsible way." -Mike Duke, Walmart CEO on the ground, there's: and the funding practices: (which are aligned with the pieces of the blue spectrum that they typically compliment) e.g. e.g. e.g. e.g. e.g. e.g. e.g. e.g. e.g. "At Whole Foods, we measure our success by how much value we can create for all six of our most important stakeholders: customers, team members (employees), investors, vendors, communities, and the environment.... It is the function of company leadership to develop solutions that continually work for the common good." -John Mackey, Whole Foods CEO
The Road Home in Salt Lake City, along many other non-profit homelessness organisations around the country, radically changed their models after being influenced by innovative research and recommendations produced by Dr Sam Tsemberis and the 'Housing First' movement. Though established in 1923, The Road Home decided it needed to change its model and over the last 5 years they have adopted a new approach that has seen the average length of stay in their shelters more than halved. And a side note: