Lessons on Social Innovation - B374:02

This week we learned about self-reliance, social entrepreneurship and being a disciple of Christ through several church talks and articles. I always enjoy listening and reading those. Self-reliance is something we will always need to work at so that we can continue being it. It is a behavior that is learned through practice and perseverance, not just by reading about it. We can apply it to our personal finances and our business finances. As we work to implement these principles in our professional and personal lives, we will become better at it, preparing for emergencies and planning for the future. I have seen this in my own life and in our business. Being self-reliant also helps us to feel more capable because we become accustomed to taking care of our own needs rather than expecting a handout. Week 13 Prompt: Reflect on your future social innovation goals and The Gospel. For my personal social innovation goals are to support those who are social entrepreneurs. Now that I under...

This week we learned about being self-reliant and how we can help others learn to be self-reliant. I really liked how Mohammed Yunus likened the poor to a bonsai tree and illustrated that everyone is capable to grow to great things. I think that we often forget how much circumstances influence our ability to grow to our full potential. As I think upon this, I reflect on how this is something that I hope my children will understand about people. Just because someone comes from a place that may seem unfavorable doesn’t mean they are unfavorable. I feel this also goes along with respect. Respecting others and their experiences that have led them to where they are and where they are going. Self-reliance isn’t something that only the poor need to learn about. Many a wealthy person has mismanaged resources and found themselves without. Being self-reliant helps us to prepare for these mishaps and to gain the self-confidence that we can pick ourselves up again. It is this knowledge of ourse...

This week we discussed social business in more depth. We learned there are two main types of social business and some of the key defining attributes. The two social businesses are type 1: in which all profits are reinvested in the company, no dividends are paid, and no losses are incurred that strives to solve a social problem. The type 2 social business is a for-profit business owned by the poor that seeks to solve a specific social issue. I found it very interesting that according to Muhammed Yunus, no social business takes any profit for the wealthy investors. If investors receive anything back, then it is not truly a social business. On one hand, this makes perfect sense, however, when thinking about a previous lesson and how to entice investors to the social business you have to be willing to make it comparable to other offers from for-profit companies. It seems to me you would have to choose one plan or the other.   Week 11 Prompt: Muhammad Yunus would like poverty to only...