ET&A Driving Social Impact

Cheryl KiserThe Lewis Institute and Babson Social

Innovation Lab

Curriculum

Social Value Creation Matters: MOB7548-B61Real time journey to understand the notion of creating

economic and social value creation simultaneously not sequentially

Greenleaf Publishing book Fall 2013

Elements of Corporate Social Innovation

What is our Social Vision? What assets and competencies do we bring to Social Innovation?

What Needs, Risks, and Opportunities are we addressing? What Social Innovation can we offer to the world?

Which partner(s) are best suited to work with us to co-create this Social Innovation?

How are we going to design, develop, and launch this Social Innovation?

What are the benefits to our business? To society?

Purpose Strategic Intent Partner Process Results

Everything starts with DESIRE

Act quickly with means at handAct Learn Build is based on current reality: who you know, what you know and anything else relevant

Pay only what you can afford toand want to – Acceptable Loss• Money & time• Reputation (professional & personal)• Opportunity cost

Bring others along• Tangible assets• Borrowed or bartered resources• Intangible assets (ambassadors,

reputational capital) through enrollment

Build on the results you create and the things you discover• Surprises are

often good. Make them an asset

• Befriend reality• With each action,

reality changes

Vision is okay but action is paramount.As a team, pick a part of your vision that you want to act on now.

Means not endsWhat resources do you have now? What is your experience? Do you have the desire to act? Who do you know that you can connect with? Think about how to take action without significant financial resources. How do you start something with nothing? Then again, do you ever really have nothing?

Affordable lossWhat are you willing to pay to play? Think about all types of resources (money, people, time, technology). What are you willing to give up in order to get going? If you know what you are willing to lose, you control the risk.

Bring others alongWho are potential partners? Can you turn competitors into collaborators? Think across sectors, disciplines, etc.

Build on the results you createHow will you incorporate your learning into the next step? What will you do next? Iteration is not about killing an idea—it’s about evolving the idea into a significant vision of what’s possible.

6

build on results you create

bring others along

affordableloss

means,not ends

•Who am I? •What do I know? •Whom do I know?

•Money•Time•Opportunity cost•Reputation

•Self-selected•Brings resources•Obvious & non-obvious

•Expect surprises•Use them for

further creation

You can effect change with the means you have. You can act now—take steps—with the means you have available.

Calculate downside potential and pay no more than you want or can afford to lose. It’s not about calculating risk to avoid failure.

Create and build solutions together with interested stakeholders (think unexpected, nontraditional too). The people who come on board shape the idea, its execution, and its impact.

Redesign plans to profit from surprises. Expect and leverage small failures.

Act-learn-repeat.

Component Description Mindset

Based on the work of Saras Sarasvathy (Effectuation) and Charlie Kiefer & Len Schlesinger (Action Trumps Everything)

Co- Curricular