Social Enterprise is the New Black

A new buzz word is happening around our countries top MBA schools.  The new buzz is called “social enterprise”.  It is hip, in fashion, and for our future let’s hope it is here to stay.

Social Enterprise as defined by our good friend Wikipedia is “an organization that applies commercial strategies to maximize improvements in human and environmental well-being, rather than maximizing profits for external shareholders. Social enterprises can be structured as a for-profit or non-profit, and may take the form of a co-operative, mutual organization, a disregarded entity, asocial business, or a charity organization.”

 Social Enterprise or Social Entrepreneurs was an uncommon term at MBA schools just a few decades ago.  Today there is a great demand and interest among MBA students in social enterprise, which MBA schools are responding too.  According to the Bridgspan group, “The MBA Drive for Social Value” which reviewed top MBA schools, there was increased interest in MBA courses with social benefit content rose 110% between 2003 and 2009.  Additionally, top MBA schools offered twice as many courses relating to social sector than they did in 2003.  

Funding and support resources to aid Social Enterprises are also on the rise.  President Obama created Social Innovation Fund (SIF) to invest in America’s most successful non-profits. President Clinton’s created Clinton Global Initiative and Clinton Global Initiative University to “turn ideas into action” by creating a space that provides inspiration, networking, knowledge building, and collaboration.  Harvard Business School hosts a student-run Social Enterprise Conference each year on campus to promote and explore the intersection of business and social impact.  Private companies such as Dell with the Dell Social Innovation Challenge are also doing their part to promote social enterprise and innovation.

The new access to classes, support and funding, it is no surprise MBA students are taking the opportunity to utilize their skills in creating a better world.

Read the Article the Rise of Social Entrepreneur: http://blogs.hbr.org/2013/02/the-rise-of-social-entrepreneu/

Harvard Business School Social Enterprise Conference: http://socialenterpriseconference.org/

U.S. News’s rankings of top business schools for nonprofit M.B.A.’s: http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-business-schools/nonprofit-rankings