MBAB/H 698: SOCIAL ENTREPRENEURSHIP
INSTRUCTOR: DAVID Y. CHOI
CONTACT INFO: DCHOI@LMU.EDU; (310) 338 2344
COURSE SCHEDULE: WED: 7:15-10:00 PM
OFFICE HOURS: TU 1-3 PM; WED 4-6 PM; TH 3-5 PM
PREREQUISITE: MBA STANDING
“To make the structure of capitalism complete, we need to introduce another kind of business – one
that recognizes the multidimentional nature of human beings. … In order to do that, we need a new
type of business… – a business that is totally dedicated to solving social and environmental
problems.” – Muhammad Yunus.
In this course, students are introduced to the field of social entrepreneurship - the process of using
entrepreneurial mindset and business skills to create innovative approaches to societal problems.
The course will explore various concepts and examples of social entrepreneurship (not-for-profit and
for-profit) through theory and case studies. Moreover, students will utilize their creativity to explore
their own solutions to the social problems of their choice.
Prepare students for a successful and rewarding (social) entrepreneurial career in the real world.
Help students to identify their passions and encourage them up to want to make a huge difference
in the world.
Familiarize with a wide range of social, environmental and other issues affecting the world.
To examine the challenges and rewards of entrepreneurship and management in creating and
developing social purpose organizations.
Create a real challenging, fun and rewarding class.
The class covers some of the key components of social entrepreneurship which will include:
Understanding the meaning and concept of social entrepreneurship (What is it and what do social
entrepreneurs do?) Also, history, background and recent trends in social entrepreneurship.
Various objectives, legal formations, and business models of social entrepreneurship (E.g., for-
profit or non-profit, missions, direct or indirect impact, revenue models, etc).
Identifying your passion and what drives you (Identifying the problems and social ills to care about
– and how to use it to developing a vision of success and a sense of mission)
Recognizing opportunities and exploring innovative solutions Finding the right approach and
business model to solve a problem.
Managing, running and growing a social venture (Includes a discussion of financing, hiring,
marketing, environmental, giving and other critical strategies; as well as balancing financial and
Developing and presenting a proposal (or feasibility analysis or business plan) for an innovative
The class will consist of lectures, numerous case discussions, individual and group assignments,
experiential exercises, videos, and guest speakers.
The class will consist of near-weekly case assignments (1-page each), 3 (small) individual assignments;
and 1 group assignment. Most of the case assignments are found in your reader and 2 are in the
book, Values-centered Entrepreneurs.
Individual Assignment #1(Mini-Self Assessment) Please answer the following 3 questions on one
(single, uno, ein) sheet of paper.
1. What causes do you care about? Pick a cause that you care deeply about. It can be the
environment (e.g., global warming), human rights in China, racial relations in the U.S., poverty in
Africa, HIV in India, health care in the U.S. etc. Why do you care about it?
2. What are your God-given (or natural) talents? What are you good at? What do you always enjoy
3. Is there a match between your talents and the cause(s) you care about? What you would sacrifice
to bring about a solution to your cause? Have you done something about it already?
Individual Assignment #2: Pick a social entrepreneurship organization (not covered in class through
the case assignments) that you admire but do not know a lot about and be prepared to present a 5-
page PowerPoint document that describes the following info:
History: How was it founded and by whom, etc?
What social problems is it trying to solve?
What is its mission?
What are its strategies for making its social impact?
What kind of social impact has it made? (and how does the organization measure its social impact?)
How does the organization operate (i.e., budget, financial resources, revenues)?
Bring an electronic copy in addition to your hardcopy as you may be called to present your findings
during any time in the semester.
Individual Assignment #3: Self Assessment: Instructions to be given.
The class will require 1 small group projects (2-3 people):
Group Project: The project is to be completed in self-selected, small groups (no more than 3
students per group). Individual projects will be accepted only with the instructor's approval. The
project may take one of the following forms:
A proposal (i.e., short business/feasibility plan) for a new social enterprise
A new business plan for an existing social enterprise (must work with executives of that
A critical assessment of an existing social enterprise with recommendations for improvement (must
“work” with executives of that organization);
You are responsible for your own learning.
You can expect me to be prepared and ready to work each class. I will expect you to be prepared
and ready to work each class including being prepared to be called upon to discuss assignments and
comment on assigned readings. You are responsible for all assignments and class discussions even if
you are absent.
In this class, you will be asked to read your news. You will be required to follow the major news of
the day. You may follow: NY Times, LA Times, BBC, Yahoo News, Wall Street Journal, Fox News,
or whatever news source you enjoy. You may use Mylmu website to aggregate the news.
Quality class participation is a significant part of the class’s learning process. Asking good and
thought provoking questions is one way of quality participation. You should never hesitate to
comment because you are concerned that you are wrong or unsure of your opinion. We all are
wrong sometimes. Many of the questions that will be posed in class will be based upon the readings,
the cases and the pre-work.
PRELIMINARY GRADING SCHEME
Categories Assignments Allocation %
Individual Assignment Assignment 1 (due Jan 12) 5%
Assignment 2 (due Feb 2) 5%
Assignment 3 10%
Group Assignment Assignment 4 25%
PRELIMINARY REQUIRED READINGS AND VIEWINGS
Book on Social Venture Business Planning
Course Reader to be purchased at www.universityreaders.com. Look for it by my name or class
number MBAB/H 698 Social Entrepreneurship. Do it asap. The first two articles and case are
Values-Centered Entrepreneurship. How a New Brand of Entrepreneurs Build Profitably
Companies and Make a Positive Contribution to Society, by Choi, D. Y. & Gray, E. R., Upcoming
Business Planning for Enduring Social Impact: A Social-Entrepreneurial Approach to Solving
Social Problems, by Andrew Wolk & Kelley Kreitz, Root Cause, Cambridge, MA. John Elkington,
Pamela Hartigan (2008). Power of Unreasonable People: How Social Entrepreneurs Create
Markets that Change the World. [Get a free version at http://www.rootcause.org/bizplanning]
Suggested (for those very interested in the subject):
How to Change the World: Social Entrepreneurs and the Power of New Ideas, by David Bornstein.
Social Entrepreneurship; New Models of Sustainable Social Change. Alex Nichols, ed. Oxford
Social Entrepreneurship by Johanna Mair, Jeffrey Robinson, and Kai Hockerts.
Articles in the Reader
Christensen, C.M. (2010). How Will You Measure Your Life? Harvard Business Review.
J. Gregory Dees (1998). The Meaning of Social Entrepreneurship. Various websites like
Handy, C. (2002). What's a Business For? Harvard Business Review. Dec 01.
Choi, D. Y. & Gray, E. R (2008). Socially Responsible Entrepreneurs: What Do They Do (to
Create and Build Their Companies)? Business Horizons.
Dees, Greg (1998). Enterprising Non-Profits, Harvard Business Review, No. 98105.
Business Planning for Nonprofits- What it is and why it matters found on
Prahalad, C.K. & Hammond, A. (2002). Serving the World’s Poor Profitably. Harvard Business
Cases in the Reader
Baron, D. P. (2008). Kiva. Stanford Graduate School of Business. P70-PDF-ENG Length: 4p.
Sawhill, J.C. & Thorp, S. (2000). Teach For America. Harvard Business School Case Study 300084-
Mair, J. & Schoen, O. (2005). New Model for the Pharmaceutical Industry: The Institute for
OneWorld Health. Harvard Business School Case Study. IES109-PDF-ENG. 33p.
Choi, D. Y. & Kiesner, F. (2007). Homeboy Industries: Incubator of Hope and Businesses.
Entrepreneurship Theory and Practice. Vol. 31, Iss. 5.
Mair, J. & Seelos, C. (2004). Sekem: Liberating a Vision, an Artistic Approach to Entrepreneurship,
Harvard Business School Case Study. IES129-PDF-ENG. 21p.
Rangan, V.K. & Lee, K. (2010). Grameen Danone Foods Ltd., a Social Business. Harvard Business
Austin, J.E. (1998). Newman’s Own. Harvard Business School. 399052-PDF-ENG. 18p.
Grossman, E. & Choi, D. Y. (2010). Novica: Arts and Crafts of Social Venturing. Case Research
Journal. Volume: 30 Issue: 4.
Le Ber, M.J. & Bansal, T. (2008). Google’s Way. Don’t Be Evil. Richard Ivey School of Business.
Phillips, J.K. & Phillips, D. (2007). Walking the Walk: Putting Social Responsibility into Action at
the White Dog Café, Ivey School of Business, 907M49-PDF-ENG. 10p.
Other Reading Assignments not in the Reader
Venture Philanthropy 2000: Landscape and Expectations. Found on
http://www.vppartners.org/learning/reports/report2000/full_rpt.pdf (57 pages).
High-Engagement Philanthropy: A Bridge to a More Effective Social Sector June 2004. Found on
http://www.vppartners.org/report2004.html. (130 pages).
Effective Capacity Building in Nonprofits
Figge, F., Hahn, T., Schaltegger, S., Wagner, M.(2002). The Sustainability Balanced Scorecard,
Theory and Application of a Tool for Value-Based Sustainability Management. Paper presented at
the Greening Industry Network Conference. Gothenberg. Found on
Other Valuable Resources
Online Videos: Found on http://edcorner.stanford.edu/index.shtml: Register and view clips and
access other materials.
Online Videos: PBS New Heroes Series: www.pbs.org/opb/thenewheroes/
Business Plan Templates: http://www.score.org/template_gallery.html
Financial Model Templates: http://www.exinfm.com/free_spreadsheets.html
Center for the Advancement of Social Entrepreneurship (CASE):
Skoll World Forum on Social Entrepreneurship. http://www.skollfoundation.org/
Dat Topic Assignments B4 Class
Jan INTRODUCTION TO CLASS Due: Individual Assignment 1
Introduction to Entrepreneurship
(What Do Entrepreneurs Do?)
Introduction to Social Entrepreneurship
Discussion of Individual Assignment 1
Video: Guy Kawasaki
Jan CONCEPTS of SOCIAL Read: The Meaning of Social
19 ENTREPRENEURSHIP Entrepreneurship (Dees)
(Problem-Mission-Operations-Success Read: How Will You Measure Your Life?
Model) Read: Values-Centered Entrepreneurs –
Identifying Innovative Solutions: Chapter 1 (Introduction) & Chapter 2
Due: Case Write-Up – Kiva
Key Traits of Social Entrepreneurs
http://www.youtube.com/watch?v=FV Due: Video: Ashoka's Bill Drayton
Case Discussion: Kiva 61DnLQ30) (60 minutes).
3 Jan FIXING EDUCATION, Due: Individual Assignments 2
26 EDUCATIONAL JUSTICE,
COMPETITIVENESS Read: Any number of articles on the web
on the status of the education in the
Discussion: United States
Competitiveness & Education in
America; 2 million minutes; Waiting for Due: Case WriteUp - Teach For America
Read: Values-Centered Entrepreneurs –
Commit to a Meaningful Purpose.
Case Discussion: Teach For American
4 Feb MEDICINES FOR THE Read: What's a Business For?
2 DEVELOPING WORLD
Discussion: Purpose of Business? Due: CaseWriteup for New Model for
Pharmaceutical…One World Health
Discussion: The Pharmaceutical
Industry: Funding, Costs, Access,
Process, Marketing, Profits. Due: Individual Assignments 2
Video: Bono: Join my call to action on
Case Discussion: New Model for
Pharmaceutical…One World Health
5 Feb INNER CITY VIOLENCE AND JOB Read: Enterprising Nonprofits (Dees).
Due: Case Write Up: Homeboy
Case Discussion: Homeboy Industries Industries
Presentations of interesting businesses Read: Business Planning for Nonprofits -
and organizations (student individual 2) What it is and why it matters.
Read: Values-Centered Entrepreneurs –
Video: David Busseau Hire Talented Employees with Shared
(http://www.lmu.edu/AssetFactory.asp Values & Build a Cohesive, Dedicated
Video: 2007 Skoll Award Social
Entrepreneurs (6 minutes)
MoneyRules Questionnaire For Profit
6 Feb IMPROVING A COUNTRY & THE Read: Socially Responsible
16 WORLD (1) Entrepreneurs: What Do They Do (to
Create and Build Their Companies)?
Case Discussion: Sekem
Due Case Write-up: Case Discussion-
Video: David Green
www.pbs.org/opb/thenewheroes/meet Read: Values-Centered Entrepreneurs –
Video: Jeff Skoll: Making movies that
RQ6i0_qRw) (17 minutes)
7 Feb IMPROVING A COUNTRY & THE
23 WORLD (2): Microfinance and beyond Due: Case Write-Up: Grameen Danone
Video: Charlie Rose - Muhammad
?v=3gpqQ68ctmk (60 minutes).
Case Discussion: Grameen Danone
8 Mar Spring Break
9 Mar FOR PROFIT SOCIAL Due: Individual Assignment 3
DEVELOPING WORLD GOODS..) Read: Values-Centered Entrepreneurs –
Raise Capital with Mission in Mind.
Discussion of Fair Trade
Case Write-up: Novica
Case Discussion: Novica
Read: Sources of Funding for New
Financing Capital for Social Ventures Nonprofit Ventures (Dees & Dolby)
Check out Charity Navigator See:http://www.cdvca.org/media/public
Raising Capital ations.php
10 Mar BUILDING A BUSINESS TO GIVE Case Write-up: Newman’s Own
16 AWAY ALL PROFITS
Read: Values-Centered Entrepreneurs –
Case Discussion: Newman’s Own Make Giving a Priority
Read: Venture Philanthropy 2000:
Discussion of Business Models Landscape and Expectations
(Grameen, MTDN, Newman’s Own, www.vppartners.org/learning/reports/re
OneWorld Health, Novica, etc.) port2000/full_rpt.pdf (57 pages)
11 Mar INCREASING COMMUNITY Case Write-Up: White Dog Café
23 IMPACT/Operationalizing Social
Responsibility Read: Values-Centered Entrepreneurs –
Be a Role Model for Others
Case Discussion: White Dog Café
Read: Gair, C. “A Report from the Good
Understanding Social Return on Ship SROI,” Roberts Enterprise
Investment Development Fund, 2005. Found on
Venture Philanthropy odshipsroi2.doc.
Read Steps in Calculating SROI:
12 Mar SUSTAINABILITY/SUSTAINABLE Read: Value-Centered Entrepreneurs:
30 ENTREPRENEURSHIP Promote Your Values & Minimize your
social and environmental footprints.
Case Discussion: TS Design (in Values-
Centered Book) Due: Case Write-Up – TS Design (in
Growing a Social Enterprise: Promotion
13 Apr GROWING A SOCIAL Read: Value-Centered Entrepreneurs:
6 ENTERPRISE & MEASURING Minimize your social and environmental
Case Discussion: Google’s Way Read: Strategic Performance
Measurement and Management in
Nonprofit Organizations (Kaplan)
14 Apr LEAVING A LEGACY Read: Read: Value-Centered
13 Entrepreneurs: Stay with It for the Long
Exit Strategies of Social Ventures Haul
Stonyfield Farm (inside the Values- Case Write-Up: Stonyfield Farm
Careers in Social Entrepreneurship
15 Apr TBD TBD
15 Apr Holiday - Easter
16 May Final Exam or Presentations
Final Exam Week Due: Group Project 2 Presentation