Charlette Smith BUS 374 Social Innovation

      This week we learned about Self reliance & Microedit and Gap Analysis.  Learning more about different entrepreneurs and the changes they helped to bring about, sometimes through governmental reform as well as their own insight, was one of the things I found to be the most helpful.       I believe that the ABCs of Self-Reliance from the Gap Analysis studying portion was one of the items that particularly caught my attention. Although it is ABC, I found it interesting that the "C" in cognition—which is what really starts the change or the action that motivates the behavior—is where it all really starts. This knowledge, in my opinion, is a game-changer that I apply for my personal own use in my life. I believe it can not only benefit myself but for others as well.      I have identified a few places where I need to apply the ABCs to myself after applying them to others. Doing new or even challenging activities is something th...

      This week we learned about Impact Investing in the article "Impact investing is hot right now. Here's why." We learned that  Impact investing is currently a popular and growing trend. Impact investing is a great way for investors to align their financial goals with their desire for social and environmental impact. It offers a way to generate financial returns while also making a difference in the world! Impact investment uses market-based ideas to overcome social and environmental challenges. It's priority is long-term effect and sustainable solutions.       I enjoyed doing the Application assignment this week and seeing which corporations used which other types of companies to invest in causes for the greater good. How each of them worked and collaborated with others to increase their impact on social concerns. One of the things I struggled with was that many of the companies we looked at were all doing good for other countries, and the one...

      This week we learned about Hybrids and Social Businesses. There were several resources we studies through out the week. In the article "In Search of the Hybrid Ideal" we learn that organizations can achieve superior performance and social impact by adopting a hybrid model that combines elements of both for profit and nonprofit approaches. Social businesses have the potential to address social problems and create sustainable impact in a financial way. We learned this in the video "Introducing Yunus Social Business". Yunus adovocates for a shift in the tradition approach to business, encouraging people to embrace the potential of social business as a powerful tool for addressing social issues.      Another great article we read "22 Awesome Social Enterprise Ideas and Examples" gave great examples for ideas! From sustainable food, fashion and education.  The article gives examples of social companies that provide innovative educational pro...

     This week's application homework was a lot of fun for me. It was both difficult and instructive to see a company from a different lens. It's amusing how some businesses claim to be non-profits but fail when put to the test. When you put a company's financials to the test, you can learn a lot about it and have a deeper look.       The case study and the business that we were given to assess were interesting to me. Other than the knowledge that Timberland was a shoe company, I knew very little about the company as whole. They are so much more than that, I realize now. They are making significant social innovations within their organization. The fact that the corporation's basic principles were instilled in every employee was the one thing that really caught my attention.       It is quite beneficial to understand an organization from the inside out in order to determine whether or not they are genuinely striving to make a differe...

      This week, we learned the basic ideas and operations of CSR (Corporate Social Responsibility) businesses, which are concerned with enhancing their local communities, economies, and environments. In addition, I realized how they created a sustainable business by successfully achieving all of their objectives in the aforementioned areas. Additionally, the triple bottom line encourages corporations to prioritize profit, people, and the environment equally. They are made Certified B Corporations thanks to these. I think it's pretty impressive of all the businesses to accomplish this sustainability.      "Triple Bottom Line (3 Pillars): Sustainability in Business" was the section I liked the best.This lesson may be summed up in a single video. I appreciate how they clearly explain the triple bottom line and use research to offer new perspectives. It teaches businesses a distinctive way of thinking about why they should integrate sustainability into th...

      This was one of my favorite weeks of studying Social Innovation. We got to present our social category and I presented on Social Business: EveryTable. I was grateful for the topic I was assigned because it was near and dear to my heart. It's a social issue that I'm very interested in, it is aiming to solve the social issue caused by Food Deserts. Which happens to be the social issue I have chosen for this semester.      The article "A Better Way to Think About Your Business Model" contained one particular point that particularly stood out to me. According to Alezander Osterwalder, "The business model canvas — as opposed to the traditional, intricate business plan — helps organizations conduct structured, tangible, and strategic conversations around new businesses or existing ones." He continued by listing a few businesses that genuinely employ this business strategy. I was motivated to consider the kind of business I want to launch in the future, and ...

    This week it felt like the topic was very different from previous weeks. We got to dive deep into finances. We learned about the importance money and finance has on social businesses and many other causes. Yes, there are many ways that funding can happen for a cause, however I learned this week that it is important to have a focused goal to gain success.      I enjoyed the TedTalk by Michael Porter, I learned more about the importance of improving and increasing scale due to social problems solutions. Profits and business growth is necessary for profits to increase, and accomplish specific goals for that particular social business.      We also learned the importance of finance and money, does not make people internally happy but can aid in various aspects of goal accomplishment and success.