Download - Social Enterprise - Pharmacy Ethics
Entrepreneurship &Intrapreneurship for
Social EnterpriseErin Albert, BS, MBA, PharmD, JD
Butler University College of Pharmacy & Health Sciences
Ethics – Spring, 2014
2.26.14
Objectives
1. Define entrepreneurs, intrapreneurs, and social entrepreneurs – list similarities and differences
2. List different enterprise models
3. Discuss how mission can come before profit in some social enterprises
4. Discuss why pharmacists might consider entrepreneurship as a career path
5. Explore real-world examples of social enterprises
What is an entrepreneur?
entrepreneur: a person who organizes and manages any enterprise, esp. a business,
usually with considerable initiative and risk.
www.dictionary.com
What is an intrapreneur?
intrapreneur: an employee of a large corporation who is
given freedom and financial support to create new
products, services, systems, etc., and does not have to
follow the corporation's usual routines or protocols.
www.dictionary.com
The Intrapreneur’s 10 Commandments1. Build your team, intrapreneuring is not a solo activity.2. Share credit widely.3. Ask for advice before you ask for resources.4. Underpromise and overdeliver.5. Do any job needed to make your dream work, regardless of
your job description.6. Remember: it is easier to ask for forgiveness than permission.7. Keep the best interests of the company & its customers in mind,
esp. when you have to bend the rules.8. Come to work each day willing to be fired.9. Be true to your goals, but be realistic about how to achieve
them.10. Honor and educate your sponsors.
http://www.pinchot.com/MainPages/BooksArticles/InnovationIntraprenuring/TenCommandments.html
Entrepreneur• Leadership• Innovation• Teamwork
• Sole risk taker • Self or VC funded• Is her own boss
Intrapreneur• Leadership• Innovation• Teamwork
• Risk shared w org• Funded by company• Works for the
organization
Same
Different
What is a Social Entrepreneur?
• An “Individual with innovative solutions to society’s most pressing social problems.”
• They are both visionary and realistic.
• They present “user-friendly, understandable and ethical ideas that engage widespread support in order to maximize the number of citizens that will stand up, seize their idea, and implement it.”
• Entrepreneurs that care about people, planet and profit.
https://www.ashoka.org/social_entrepreneur
Examples of Historical Social Entrepreneurs
• Dr. Maria Montessori (Italy) – developed Montessori approach to early childhood education1
• Florence Nightingale (UK) – Founder of modern nursing & started nursing school1
• Charles Walgreen, Senior (USA) – Founder of Walgreens, he partnered with the University of Chicago to establish the Walgreen Foundation for education.2
1. https://www.ashoka.org/social_entrepreneur2. http://www.walgreens.com/marketing/about/history/hist5.jsp
What is a Social Enterprise?
• « …a kind of business dedicated to solving social, economic, and environmental problems that have long plagued humankind—hunger, homelessness, disease, pollution, ignorance. »1
• Social enterprise isn’t driven solely by the profit motive; it has a triple bottom line and/or is a sustainable business model.
1. Yunus, M. Building Social Business: The New Kind of Capitalism that Serves Humanity’s Most Pressing Needs. PublicAffairs, 2010; vii.
Triple Bottom Line & Sustainability
Image: http://www.esru.strath.ac.uk/EandE/Web_sites/99-00/bio_fuel_cells/groupproject/library/sustainableenergy/text.htm
People
Planet
ProfitProfit People
New Social Business Models
1. Community Interest Company (CIC) – UK
2. Benefit Corporations
3. Low Profit Limited Liability Companies (L3Cs)
What does an entrepreneur do?
-Mission-Idea development-Has a passion for the idea-Creates a business plan-Executes the business plan and adjusts accordingly
What goes into a business plan?
• Cover page
• Table of contents
• Executive summary
• Company profile (industry profile)
• Market analysis and strategy
• Management analysis
• Operations
• Financial Projections - balance sheet, income statement, cash flow statement
Business Plan Elements
Why should a pharmacist consider entrepreneurship?
Pharmacy =
Business
Why should a pharmacist consider social business?
Pharmacy = Public Health
and
Public Health = Social Enterprise
Social Businesses withFounders Who Believe in
Making a Living
but also…Making a Difference!
http://www.huffingtonpost.com/monika-mitchell/the-5-ps-of-social-entrep_b_4079248.html
Recent Example of Social Enterprise:
The Amazing Adventures of the Princesses from Planet
STEM
http://www.kickstarter.com/projects/1820374401/getting-girls-excited-about-stem-a-childrens-book
An Example of Social Entrepreneurship in
Education: Khan Academy
https://www.youtube.com/watch?v=G_iDIJdv3Xs
One for One Business Model
Other Examples of Social Enterprise in the Real World:
TOMS Video
Are you a potential entrepreneur?
http://www.mvp.cfee.org/en/selfassessisentforme.html
Quiz Results
Where can I learn more?
• RX 640– Entrepreneurship in Life Sciences Elective – COPHS
– No tests! Just real life experience
– Build a business plan, work in teams, and hear from real life entrepreneurs
– Become an anthropologist of YOU
• EI201– Real Business Experience - COB
– Work in teams with COB students, create a business plan, execute in the next semester
• EI315 – Creativity and Innovation*
• EI325 – Social Entrepreneurship*
Take A Class at Butler
*Prereqs: EI201 and EC231 (Microeconomics)
