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February 4th Class Notes

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by: Lexi Matthews

February 4th Class Notes ENTR:3500:0001

Marketplace > University of Iowa > ENTR:3500:0001 > February 4th Class Notes
Lexi Matthews
GPA 3.27
Social Entrepreneurship
Joseph Sulentic

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About this Document

Notes from the power points discussed in class. Power points over chapters 1 and 2. Supplementary material, not just the power points from class.
Social Entrepreneurship
Joseph Sulentic
Class Notes
joseph sulentic, social entrepreneurship, Chapter 1, chapter 2, Entrepreneurship
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This 3 page Class Notes was uploaded by Lexi Matthews on Monday February 9, 2015. The Class Notes belongs to ENTR:3500:0001 at University of Iowa taught by Joseph Sulentic in Spring2015. Since its upload, it has received 89 views.

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I'm a really bad notetaker and the opportunity to connect with a student who can provide this help is amazing. Thank you so much StudySoup, I will be back!!!

-Marlen Graham


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Date Created: 02/09/15
2415 Notes Social Entrepreneurship ENTR3500 Joseph Sulentic General talk about class 0 Want you to be clear what the difference is between a entrepreneurship and social entrepreneurship o A for profit entr is looking at a different end goal than a soc entr 0 Regular entrpreneurship service or product and people give you money 0 Social entrepreneurship main difference is in the reward sought by the end result teach underprivileged to read feed the hungry etc Ch 1 An Introduction to Social Entrepreneurship Muhammad Yunus Story 0 First guy recognized as a social entrepreneur o Opportunity Woman weaving baskets and making products that they couldn t even afford to make so they had to borrow money for huge interest rates The ladies were making something like 30 cents compared to profits that could be 200 0 Results from idea The idea was that poor people wouldn t pay the loans back but they DID at something like 99higher than the average American loan repayment at something like 90 0 Ex Toms Shoes Buy a pair of shoes and they donate a pair to kids without shoes 0 Muhammad had a different business model so did Toms Shoes The Entrepreneurship Process 0 Overcome not having money Write a plan a get it funded Don t worry about having limited resources figure it out 0 Stages 0 Harvesting the venture in soc entr doesn t exist usually Persistent SE Concepts 0 Reason private markets don t meet the need solving homelessness illiteracy underfed is because the market doesn t price having ex quota 3 year old be able to read very well 0 Further down the road the market doesn t price a 3rel grader being able to read well and being turned off from classes to only go down a bad road and get thrown in jail but they are motivated by the price of housing someone in jail for a year huge price 0 The market is like a tide you can t fight them Process steps in entrepreneurship 1 0 See opportunities nonstop to create social value this is in place of where normal entrepreneurs or people only see tragedy or threats The landscape of SE 0 Create in this class the mindset that you can hop from SE to for profit entrepreneurship 0 That way you can understand and manage both 0 Former student approached Nike from the social entrepreneurship side and got a job 0 Growth is higher in public charities and private foundations 2415 Notes Social Entrepreneurship ENTR3500 Joseph Sulentic o If Nike said quotgive us S20 we won t do anything with it but give us 20 what would you say NO If a SE says the same thing you are far more likely to say YES 0 Can get money in a bunch of different ways grants donation buying something foundations solicitations Psychological Characteristics of Entrepreneurs 0 Similar to characteristics of regular entrepreneurs Figure 14 The characteristics of a social entrepreneur 0 Don t need to memorize o SE s have a knack for social concern Social entrepreneurs as 0 Volunteer for a committee or a nonprofit when you get to a community 0 The people working there on the board etc will be the best connected people in town When they have an opportunity they will look to you and think of you first Overall How close SE is to regular entrpreneurship Chapter 2 Ideas and Opportunities 0 Relationship between idea and opportunity If someone doesn t want to give you any money for an idea then it s not an opportunity Social entrepreneurship as a creative process o If you don t get someone to give you revenue to make this happen it s not going to work o It might not cost SS but you will need resources ie mentors to teach 3rel graders how to read 0 Ideas come from the stuff that you are already doing in SE and regular entr Creativity 0 Try and teach it in the book but you can t really do that except to try and get out of your normal routine 0 Not going to think differently than the masses if you do the same thing that the masses do 0 Joe Yoga is where it s at Figure 24 Maslow s Hierarchy of needs and examples of SE potential 0 Go from staying alive shelter and food at the bottom all the way to selftranscendence or helping others at the top Sources of opportunities 0 Whatever the trends are mobile phones that s a trend 0 How does that make an opportunity come about 0 Kickstarter or crowdfunding campaigns 2415 Notes Social Entrepreneurship ENTR3500 Joseph Sulentic 0 Will look at 60s and 70s later on and their public involvement Test Will have information from the books Want us to read the books Need to do what is requested ofyou


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