October 1, 2014, HBR blog network.
More new businesses are better for society, right?
That’s a common assumption. For instance, take this recent Washington Post piece, headlined, “More businesses are closing than starting. Can Congress help turn that around?” Sounds ominous at first. But wait a minute – is starting more new businesses always a good thing?
New survey finds 83% of financial professionals are interested in investing based on societal or environmental impact
The findings from the 2014 Social Business Global Executive Study and Research Project are presented in the "Moving Beyond Marketing."
The Social Business Big Idea is supported by Deloitte University Press with whom MIT Sloan Management Review is collaborating on the development of research materials connected with Social Business and management innovation.
New Tool Puts Dollar Value on Social Projects, The Chronicle of Philanthropy, Sep 22, 2014
...The Social Impact Calculator is the result of the Low Income Investment Fund’s effort to measure the effect of its own work...
For example, she says, the fund uses research conducted by James Heckman, a Nobel Prize-winning economist, to put a dollar value on its work financing early-education centers...
LIIF gratefully acknowledges our partners for their insight and feedback on this project, includes: (Academic related) Paula Braveman, University of California, San Francisco; Chris Herbert, Joint Center for Housing Studies of Harvard University; Doug Jutte, Build Healthy Places Network and University of California, Berkeley School of Public Health;
The best academics are those that build a form of public dialogue into their work. Like you lot, on Twitter: http://t.co/FoNYPFto6I— TimesHigherEducation (@timeshighered) August 31, 2014
"Hong Kong is a wonderful, thriving society to be part of. If you don't believe me, go outside today," Sunil Kumar, dean and George Pratt Shultz Professor of Operations Management, said in his opening remarks at the inaugural ceremony’s keynote panel discussion, “Which Capitalism for the 21st Century?”
Impressed by Pres. Obama’s open mind. Today he invited me and other economists to lunch to better understand the needs of the country— Zingales_en (@zingales) July 2, 2014
July 2012, BookTV: Luigi Zingales, "A Capitalism for the People"
In a plea to bolster free markets and not big business, he shared insights from his new book, A Capitalism for the People: Recapturing the Lost Genius of American Prosperity, (Basic Books (June 5, 2012))
SAN FRANCISCO (June 4, 2013) - The University of San Francisco (USF) announced today that it has selected the San Francisco Free Clinic to receive the 2013 University of San Francisco California Prize for Service and the Common Good. Focused on community wellness, the San Francisco Free Clinic provides free, accessible medical treatment to those without health insurance, while also advancing the field of primary care by providing educational opportunities for future medical practitioners
Centro Community Partners, located in Oakland, fosters socioeconomic change in communities by providing business advisory services and leadership development programs to underserved entrepreneurs that are needed to grow businesses and provide jobs.
Earlier this year, Centro released a mobile app called the Centro Business Planning Tool, which people can use to create a business plan right on their smart phone. The app is available for Apple products (in English) and on Android (in English and Spanish).
To learn more about how Centro developed the app, check out "PhotoEssay: How We Made Our App in 7 Pictures"!
Watch the video below to learn more about Centro:
Management Team (centrocommunity.org/about/centro-team/)
Arturo A. Noriega
Founder & Executive Director
Arturo brings more than 17 years of work experience as a management consultant. Arturo specializes in economic development, strategy, governance, risk management, finance, and organizational change management. He has worked at Mission Energy, Moody’s KMV, Barclays Global Investors, AON, Deloitte, and Ernst & Young. He has earned an MBA in Strategic Management and Leadership from Peter F. Drucker School of Management at Claremont Graduate University and a BA in Economics and a concentration in Finance from Haas School of Business from U.C. Berkeley.
Naldo Peliks (video @ 2min5secs)
Chief Operations Officer
Naldo is responsible for developing Centro’s operational capacities, leading the organization’s advisory services and overseeing product development. He brings 10 years of marketing and business strategy experience working with organizations in technology, banking, retail and education. He is also a founding member of Baobank, a microfinance initiative in Burkina Faso. Naldo has a BA from the University of San Francisco and an MBA from IE Business School in Madrid Spain.
Sir Richard Lambert, former Director General of the Confederation of British Industry, currently Chancellor of Warwick University and senior independent adviser to Deutsche Bank. He was a Member of the Bank of England’s Monetary Policy Committee, before which he worked at the Financial Times, serving as Editor when the successful US version of the newspaper was launched. He was commissioned by the Government to write the Lambert Review of Business-University Collaboration in 2003.
Jueves 4 de Setiembre, 09:15 - 10.15
La Gestión del Conocimiento ¿Cómo y Para Qué?
APERHU y CENTRUM Católica, ambos líderes indiscutibles en gestión de personas, proponen al país una mirada hacia afuera, para conocer las mejores prácticas en el mundo sobre la gestión de personas, y una mirada hacia adentro, para evaluar lo que sucede en el país y obtener una propuesta que logre en nuestras empresas laboralmente responsables el éxito esperado.
Te esperamos este 4 y 5 de setiembre en la 23° edición del Congreso de Gestión de Personas en CENTRUM Católica (Jr.Daniel Alomía Robles 125, Los Álamos de Monterrico – Surco).
Why we should abandon shareholder capitalism and return to stakeholder capitalism: http://t.co/JSsJKgDtu8— Robert Reich (@RBReich) August 10, 2014
A new study (PDF, 42 pages) scheduled to be published in this fall by Princeton’s Martin Gilens and Northwestern University’s Benjamin Page confirms our worst suspicions.
Gilens and Page analyzed 1,799 policy issues in detail, determining the relative influence on them of economic elites, business groups, mass-based interest groups, and average citizens.
Their conclusion: “The preferences of the average American appear to have only a miniscule, near-zero, statistically non-significant impact upon public policy.”
But if we give up on politics, we’re done for. Powerlessness is a self-fulfilling prophesy.
The only way back toward a democracy and economy that work for the majority is for most of us to get politically active once again, becoming organized and mobilized.
We have to establish a new countervailing power.
My lecture on inequality at Aspen Ideas Festival -- to top 1%, who need to understand what's at stake: http://t.co/EKTsb8dkLZ— Robert Reich (@RBReich) July 1, 2014
Q: The book officially comes out in one week. What do you think I should be doing to excite new audiences & get more people to buy the book?— danah boyd (@zephoria) February 17, 2014
Our first financial product, the Social Enterprise Expansion Fund, is seeking to fill the risk-taking expansion capital gap for social enterprises while providing investors with an attractive blend of financial and social returns. Our innovative model enables a new class of investors to put their money to work to change the world.
Growing the social investment market: turning rhetoric into reality
Jonathan Jenkins is encouraged by the Cabinet Office's progress report on the state of the social investment market
The social investment market is growing, but is it set to blossom? Photograph: Luong Thai Linh/EPA
The government's progress report on growing the social investment market (updated 5 June 2013) shows this is crunch time for the social investment market.
We have started to learn thr is no tradeoff between social progress and economic efficiency in any fundamental sense http://t.co/9R5DyVVQhU— Michael E. Porter (@MichaelEPorter) June 19, 2013
This project will develop an automated reader for large text archives of human rights abuses that will reconstruct stories from fragments scattered across a collection, and an interface for navigating those stories. ..., this system will help researchers and courts reveal witnesses and patterns contained in their own collections. US Team's Project Website Canadian Team's Project Website
A Report on the Experiences of First Respondents to the Digging Into Data
This report culminates two years of work by CLIR staff involving extensive interviews and site visits with scholars engaged in international research collaborations involving computational analysis of large data corpora. These scholars were the first recipients of grants through the Digging into Data program, led by the NEH, who partnered with JISC in the UK, SSHRC in Canada, and the NSF to fund the first eight initiatives. The report introduces the eight projects and discusses the importance of these cases as models for the future of research in the academy.
How many lifetimes? ...Because the resources in question were digital, the time of analysis and discovery was compressed into months, not decades...
Beware the Big Errors of ‘Big Data’, Nassim N. Taleb, Wired.com, 8 February, 2012 ...I am not saying here that there is no information in big data. There is plenty of information. The problem — the central issue — is that the needle comes in an increasingly larger haystack.
U.S. government: (4,835) Raw data sets, October 2012 (www.data.gov)
TechAmerica Foundation’s Big Data Commission released today its long-awaited report, “Demystifying Big Data: A Practical Guide to Transforming the Business of Government.” (PDF 40 pages) It offers a comprehensive roadmap for the use of Big Data by the Federal government and a set of policy recommendations and practical steps agencies can take to get started on Big Data initiatives.
...The ground-breaking McKinsey Global Institute’s big data report published in May 2011 estimated that “in the developed economies of Europe, government administrators could save more than €100 billion ($149 billion) in operational efficiency improvements alone by using big data, not including using big data to reduce fraud and errors and boost the collection of tax revenues...
When Princeton professor Anne-Marie Slaughter published an essay in The Atlantic titled, "Why Women Still Can't Have It All," in July 2012 (most popular article of all-time of The Atlantic), she touched a nerve across generations and among both men and women, setting off a renewed public debate on women's progress and work-life balance.
Slaughter recently visited campus as a guest lecturer in the Authors@Wharton series and spoke directly to the people who she says inspired her to write the piece: this generation's students. In an interview for Knowledge@Wharton with Stewart Friedman, Wharton practice professor of management and director of the Wharton Work/Life Integration Project, Slaughter, former director of policy planning for the U.S. State Department, shares what it was like to draw back the curtain on her life as someone perceived to "have it all," and why she passed up the promotion of a lifetime to be with her family. She also suggests how companies can make life better for both women and men, and what society collectively must do to support the next generation.
An edited transcript of the conversation follows...
My foreword to "Writing My Wrongs" by Shaka Senghor, Feb 7, 2013
...On July 1, 2012, the MIT Media Lab announced that we would be creating an Innovators Guild-a team of scholars, executives, and designers that would go to communities around the world using the power of innovation to help people. Our first focus for this was Detroit...
Dean Garth Saloner on why business schools must change if they are to serve their students and society well.
February 5, 2013, EFMD's Global Focus Vol 7, issue 1 - "The business of change" (lead article)
Founded seven years ago in Dublin, Ireland, Camara (camara.org) has established e-learning centres that have provided digital literacy services to some 450,000 children in poor communities in 1,650 schools in Africa, Ireland and the Caribbean. The organisation has installed over 35,000 computers and trained more than 5,000 teachers to use the technology for learning purposes.
Another alumni, Jane Chen (MBA 08) (wikipedia), is cofounder and CEO of Embrace, a non-profit company that has developed a low-cost portable baby incubator. The incubator Embrace sells uses a gel-like liquid that can be heated in boiling water and inserted into the back of a modified infant sleeping bag, which keeps a baby’s body temperature at a constant 37 degrees. Today, these baby incubators cost less than $200 – about 2% of the cost of a traditional incubator – and are saving lives in India, Africa and beyond.
The latest issue of Global Focus leads with Stanford GSB’s Garth Saloner on why business schools must change if they are to serve their students and society well. Other highlights include: The sustainable business; Towards a coherent portfolio of quality; Growing talent in growth countries; Globalising students; No pyramids in China; Fit for purpose: Putting sustainability into practice in a business school; Rise of the dragons; What alumni want; African futures; Progressive teaching ensures business school competitiveness; The Social Contract with Business: implications for the MBA; Languages and communication: a new challenge for management education.
We have a very close relationship with the academic community and our award holders. Representatives of the academic community play a crucial role in the Council itself and the bodies that advise it on its strategy and the research that it funds. Our relationship with the UK academic community is critical to achievement of excellence with impact.
We work with a wide range of organisations from within academia, including researchers and administrative staff, individually and collectively (eg through HEI’s and learned societies, and not explicitly restricted to social sciences). We interact with the academic community on:
Online applications must reach the ESRC by 8 March 2013. Late applications will not be accepted.
The Behavioural Insights Team (BIT) is a high profile unit set up by the coalition government to explore how behavioural science can improve the design, delivery and evaluation of public policy. There is a growing consensus that the success of many policy initiatives is contingent on their behavioural impact. The Behavioural Insights Team is working with a number of departments, government agencies and local authorities to develop innovative, evidence-based policy solutions and to implement them using robust randomised control trial methodology. The team is part of the Cabinet Office based on Whitehall in central London.
Behavioural Insights Team (Research Fellowship) (PDF, 2 pages)
Video uploaded on Oct 19, 2012. Sir Ronald Cohen, chairman of Big Society Capital, speaks with McKinsey's Ian Davis about the opportunities and challenges of financing social investments and the parallels he sees between these activities and the rise of the venture-capital industry.
A cofounder and former chairman of Apax Partners, Sir Ronald Cohen pioneered the British venture-capital industry. Over the past decade, he has also stood at the vanguard of social investing. When Britain established its first social-investment bank, Big Society Capital, in 2011, Sir Ronald was named its chairman. In a conversation with Ian Davis, McKinsey’s former managing director and a board member of the bank, he describes the opportunities and challenges of financing social investments and the parallels he sees between these activities and the rise of the venture-capital industry.
Click here to learn more about Big Society Capital: www.bigsocietycapital.com/
Many large universities conduct research and teaching as if they are isolated from the society and region around them. But even the desire to become world-class can be achieved by better serving their locality, a conference on higher education-industry-community engagement in Asia heard.
Although institutions are reaching for research excellence, the OECD has found in a series of studies on “Higher Education in Regional and City Development” that universities need to build on existing strengths and competitive advantages in their region.
Bookmark this page: www.oecd.org/edu/imhe/regionaldevelopment
Universities and other higher education institutions (HEIs) can play a key role in human capital development and innovation systems. In the time of globalisation, growth and development continue to cluster around specific regions that have a high concentration of skilled and creative workforce and infrastructure for innovation. HEIs can help their cities and regions become more innovative and globally competitive.
Reviews of Higher Education in Regional and City Development are the OECD’s vehicle to mobilise higher education for economic, social and cultural development of cities and regions. They analyse how the higher education system impacts upon regional and local development. In addition, they facilitate stronger collaborative work and capacity building
Four regions have confirmed their participation (Reviews 2010-2012):
...The HBS African-American Alumni Association (HBSAAA) has joined forces with Dell to put computers into the hands of promising young students who might not otherwise have access them. ..
Since the project’s launch in October 2004, more than a dozen HBSAAA volunteers have dedicated several hours every other Saturday to serve as mentors to eighteen middle-school students from the KIPP (Knowledge Is Power Program) Academy, an innovative arts-focused charter school in the South Bronx...
Last week, we got to hear from Sir Andrew Witty, CEO of GlaxoSmithKline. The talk was part of the Pears Business Schools Partnership Lecture, which promotes sustainable and responsible business through inspiring future leaders. What does one of the world’s largest pharmaceutical companies have to say about how doing good is good for business?
Sir Witty’s talk was deeply insightful and provocative, and I walked away with a few important messages...
organized by www.bertelsmann-stiftung.de "Inspiring people. Shaping the future. Participating in a globalized world."
Watch Miriam Müthel, Assistant Professor at WHU Otto Beisheim School of Management, explaining her solution proposal to enforce ethics and trust in society and business. Sustainable ethical behavior will help trust to develop. We are grateful that FutureChallenges conducted this interview at the GES 2011 in Kiel.
According to Miriam Müthel, ethical behavior is one of the building blocks of trust since it reflects consistency and values. Business leaders should not just be evaluated in terms of business goals and financial performance, but the way goals are achieved should also be taken into account and aligned with the values of the firm. To achieve this, values have to be made much more concrete.
The G20 Challenge on Inclusive Business Innovation seeks to recognize businesses with innovative, scalable, and commercially viable ways of working with low-income people in developing countries.
Application period: December 1, 2011 - February 29, 2012.
LONDON — It always pays to do your homework. And as Jeremy Bedzow, an M.B.A. student at the IE University in Madrid, can attest, in business school it often pays to volunteer — especially if you are looking for rewards that go beyond the bottom line.
Working with a team of IE students in Madrid, Mr. Bedzow helped Microsoft to develop a model program to provide training in information technology as well as the soft skills required to function inside the corporate world.
Known as ITCAN Academy, a pun on the Arabic word for perfection, itqan, the course recruited 100 university students, all of whom had to be Saudi nationals...
“One of our objectives at IE is to educate global citizens,” Mr. Íñiguez (Dean) said. “We try to instill civic virtue through the whole curriculum. Instead of having a module on ethics, we believe every course, every subject, every professor, should address these issues.”..
“That diversity also needs to be part of the learning process,” Mr. Íñiguez said. “We need to get beyond gender, or the number of passports in the class, and make sure our graduates are genuinely comfortable with different views and different values. We need to help students get rid of their arrogance.”
Call to Action (p92, The Report, PDF 108 pages)
The challenge is big, significant, and urgent – action is required now: Without all stakeholders – youth, employers, government, education providers, multilaterals, and civil society – coming together right now and embarking on ambitious plans to jointly address the e4e challenge the Arab World’s youth are facing, the potential short-, mid-, and long-term consequences are dire...
e4e is education that leads to improved employment prospects. Read our new report.
The Arab World is overwhelmingly young, with the highest youth unemployment in the world. Recent events across the region have amplified the social and economic disconnect between skills, jobs and opportunity. Education for Employment (e4e) is an initiative headed by IFC, a member of the World Bank Group and the Islamic Development Bank.
Dr. Doug Guthrie, Dean, Professor of International Business and Professor of Management at The George Washington University School of Business is an expert in the fields of economic reform in China, leadership and corporate governance, and corporate social responsibility. (Meet the dean)
Dean Guthrie completed his 13th marathon at the New York City Marathon yesterday. He ran for the charity, Team for Kids (www.tfkworldwide.org), an organization helping to combat childhood obesity by providing health and fitness programs to children who would otherwise have no access. Running by his side was his partner, Mira Edmonds.
...“Social enterprises generate a process of innovation in society by addressing problems that are neglected by the other institutions in our society, mainly the governments and markets and to some extent the social charity sector”...
...But social entrepreneurship shouldn’t just be written off as a comfortable add-on to the activities of established profit-oriented companies. It’s a strategy for value creation in its own right and a phenomenon that is increasingly becoming a focus of academic research...
...“Regulatory frameworks tend to keep things apart and regulate separately (things) that actually social entrepreneurs blend,”...
Development with Impact: Innovation and Partnerships, Nov 03, 2011 | By Bill Gates
Development with Impact: Innovation and Partnerships from The Gates Notes
In a report presented to world leaders at the G20 summit in Cannes, France, Bill outlined recommendations to encourage innovation and new partnerships that increase the value and delivery of development aid. Read the report and download a copy (PDF)...
Why should a person who wishes to bring the world a better mousetrap be able to know that he can get wealthy if he does it, while the person who wants to end hunger must know that he cannot?
Dan Pallotta is an expert in nonprofit sector innovation and a pioneering social entrepreneur. He is the founder of Pallotta TeamWorks, which invented the multiday AIDSRides and Breast Cancer 3-Days. He is the president of Advertising for Humanity and the author of Uncharitable: How Restraints on Nonprofits Undermine Their Potential.
Book on Amazon, (August 24, 2009) R. Glenn Hubbard and William Duggan, two leading scholars in business and finance
Over the past twenty years more citizens in China and India have raised themselves out of poverty than anywhere else at any time in history. They accomplished this through the local business sector—the leading source of prosperity for all rich countries. In most of Africa and other poor regions the business sector is weak, but foreign aid continues to fund government and NGOs. Switching aid to the local business sector in order to cultivate a middle class is the oldest, surest, and only way to eliminate poverty in poor countries.
Stanford Graduate School of Business has received a $150m gift, the largest in its history, to focus on alleviating poverty in emerging markets. The Institute for Innovation in Developing Economies is to find ways of applying the kind of entrepreneurial skills made famous at Stanford, situated in the heart of California’s Silicon Valley, to spur economic growth.
For Garth Saloner, the South African dean of Stanford GSB, the institute should bring two benefits. “The end goal here is poverty alleviation and capacity building for Stanford University.”
One of the most distinctive elements of the initiative is that although housed at the business school, every department at the university could be involved, including engineering, healthcare, law or public policy. The multidisciplinary approach is what distinguishes the centre from others in the US, says the dean. “I do think directionally that this (alleviating poverty in developing economies) is the sort of activity that people do not usually associate with a business school. “But issues such as sustainability, governance and water policy are areas where leadership and entrepreneurship can play a critical role, he argues.
Stanford Graduate School of Business Launches Institute to Alleviate Poverty with $150 Million Gift
STANFORD, CA—The Stanford Graduate School of Business has established the Stanford Institute for Innovation in Developing Economies with a $150 million gift from Dorothy and Robert King, MBA ’60.
GSVC's mission is to catalyze new sustainable ventures that address significant social issues, build awareness of the social entrepreneurship field and educate future leaders
August 18, 2011 Jeffrey Sachs, Financial Times.
..The path to recovery now lies not in a new housing bubble, but in upgraded skills, increased exports and public investments in infrastructure and low-carbon energy. Instead, the US and Europe have veered between dead-end, consumption-oriented stimulus packages and austerity without a vision for investment...
Jeffrey D. Sachs is the Director of The Earth Institute, Quetelet Professor of Sustainable Development, and Professor of Health Policy and Management at Columbia University. He is also Special Advisor to United Nations Secretary-General Ban Ki-moon...
The man who started the private equity industry 40 years ago, is plotting to harness entrepreneurship to act as an agent for social change.
...has been back to Harvard and a clutch of other top universities to tell the students about the next big thing in the business world – social finance...
"We want to do the same thing for social entrepreneurship. We want to connect the capital markets to the social sector.
"I think it is going to be similarly powerful because the impact of the recent crisis on peoples consciousness has emphasised the importance of dealing with the social consequences of the [capitalist] system."
Sir Ronald is fervent in his belief that this is more than just the latest business fad, but a crunch-point moment for the entire Western market-based system.
"It is not enough to increase the standard of living at the high end. It is right at the same time to worry about those who are left behind," he says.
"I think societies everywhere will come to the conclusion that an important part of the capitalist system is having a powerful social sector to address social issues, because government doesn't have the resources."
Article of the Financial Times, July 21, 2011.
Prof Awaysheh’s research focuses on how firms attempt to manage socially responsible practices in their operations and supply chains. He teaches operations management on the MBA programme at the school as well as an elective on corporate social responsibility.
He defines for the Financial Times: operations management, socially responsible practice, supply chain distance, supply chain power, supply chain transparency...