Short Course Description
Social businesses represent a transformative approach to addressing societal challenges, both in Israel and globally. These businesses look at social issues as opportunities and develop sustainable solutions grounded in viable business models that aren't reliant on philanthropy or government support for survival. This innovative framework fosters a synergy between business and societal practices, enabling the resolution of pressing social and environmental problems that might otherwise go unresolved.
The essence of social businesses lies in their pursuit of a dual or even triple bottom line: achieving profitability while concurrently generating positive social and/or environmental impacts. However, due to their distinct structure, social businesses confront a range of distinct challenges.
Throughout this course, we will explore the ideological foundations that underpin the fusion of business and social consciousness. We will discuss what set social businesses apart from conventional enterprises or NGO?s. Additionally, we will delve into the art of constructing a comprehensive business strategy for either an established or early-stage social enterprise. Key topics we will address include:
Definition: We will deliberate on the necessity of a precise formal definition and survey the globally recognized interpretations of a social business. We will examine the array of social business models that exist.
Financing: We will investigate the diverse financing mechanisms employed by social businesses, considering innovative paradigms like hybrid funds, cooperatives, crowdfunding, social bonds, and the alignment with Sustainable Development Goals (SDGs) and Environmental, Social, and Governance (ESG) criteria.
Measurement and Evaluation: Navigating the intricacies of quantifying impact within a social business is essential. We will spotlight the Theory of Change framework and the Social Return on Investment (SROI) model, which translates social impact into financial terms.
Management: Operating a business with a dual mandate of financial and societal gain presents distinct challenges. The concept of "Mission Drift" will be explored, alongside strategies and organizational methodologies to avert such divergence from the social mission.
Entrepreneurial Dynamics: We will dissect the unique traits of social entrepreneurs compared to their traditional counterparts. Where to initiate the journey will be explored, and a workshop cantered on idea development will introduce specialized tools like the social canvas model.
Throughout the course, we will be enriched by the insights of guest lecturers, distinguished figures in the realm of business-social entrepreneurship, alongside perspectives from accomplished entrepreneurs and investors who have pioneered in this field.
Full Syllabus
