Loyola University Chicago Social Enterprise Initiatives
Loyola University Chicago's Quinlan School of Business is dedicated to promoting social enterprises as innovative solutions to 21st-century challenges. Through defining social enterprise, highlighting its features, and showcasing Quinlan School initiatives such as entrepreneurship programs and the Baumhart Center for Social Enterprise and Responsibility, the university aims to inspire a new generation of business leaders passionate about making a positive impact on society.
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LOYOLA UNIVERSITY CHICAGO Social Enterprises: Innovative Approaches to 21st Century Challenges Kathy Getz & Tim O Connell CURL Seminar December 7, 2012
Definition of Social Enterprise An organization in which the core business activity 1. produces a benefit to society through a product, labor or process that is beyond the benefit provided to its customers; and 2. the removal of the benefit to society would substantially alter or eliminate the business. LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Features of Social Enterprises Dual (or triple) bottom-line Careful attention to multiple stakeholders Passion for social cause Rigorous attention to fundamentals (efficiency and effectiveness) Facility and preference for working collaboratively across sectors LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Quinlan School Initiatives Curriculum Entrepreneurship program Microenterprise consulting Co-curricular activities Case competition Business plan competitions Volunteer and service programs Faculty research Benton: sustainable production and consumption Getz: peace through commerce Shultz: subsistence marketplaces Uygur and Marcoux: social entrepreneurship Outreach and Programming Dean s Speaker Series More to come with launch of Baumhart Center LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Baumhart Center for Social Enterprise and Responsibility In the midst of frequent difficulties, [business leaders] will many times be in a position to do much good for many people. Raymond C. Baumhart, S.J. (1991) Promote a conversation about business as a force for good. Serve as a venue in support of multi-sector collaboration. Provide guidance for businesses to help them assess the return on investment (especially qualitative) of social responsibility spending. LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Evolving Landscape Classic Vision 1. Businesses 1. For profit 2. Focus on Stockholders 2. Social Services 1. Non-profit 2. Focus on clients & society LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Evolving Landscape Recent Vision 1. Business 1. For profit 2. Focus on Stakeholders 3. Socially Responsible LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Evolving Landscape Recent Vision 1. Business 1. For profit 2. Focus on Stakeholders 3. Socially Responsible 2. Social Services 1. Non-profit 2. Focus on Stakeholders 3. Using business skills for scalability LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Evolving Landscape Emerging Vision: A Continuum of Structures 1. Business w/ Social Responsibility 2. Business as Social Enterprise 1. Benefit Corps 2. L3Cs (using PRIs) 3. Non-profits w/ For-profit subsidiaries 4. Non-profits w/ Business Skills LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
Current Initiatives 1. Educational Highlighting 2. University Collaboration 1. CURL 2. IUES 3. Social Justice Initiatives 4. SIFE / ENACTUS 5. Moneythink 3. Outreach 1. Social Enterprises 2. Business Allies 3. Social Service Allies LOYOLA UNIVERSITY CHICAGO QUINLAN SCHOOL OF BUSINESS
