Social Entrepreneurship Thesis
A Book Report of
Social Entrepreneurship: The Secret to Starting a Business Worth Living For
By: Marcel N. Kwedi (First Edition)
Introduction:
Social Entrepreneurship: The Secret to Starting a Business Worth Living for is made by Marcel N. Kwedi. Marcel is the current founder and president of the WOHAOO Initiative project. This Project of him is a platform to get funding for the Social Enterprises who need it around the World. He defined Social Entrepreneurship with the new view of General Theory of Social Entrepreneurship. This theory states that social entrepreneurship is any business activity that uses strategies that are innovative and sustainable to construct and come up with new products which can fill up the unsatisfied needs of the
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Every chapter tackles and defines the importance of each topic. It explains how these topics can be use in starting a social enterprise and proves to every reader that Social Entrepreneurship is really the secret in starting a business that anyone can say is worth living for.
Synopsis and Critique:
Chapter one is the Microeconomics part, which is define as the study of the preferences of people in their daily lives whether being a buyer or seller in a market or industry. It is focus on the decision-making and what factors affect the decisions of the market, industries and companies. And according to Marcel, utility is the main factor that affects their choice. The masses are attracted by products which increase their pleasure and alleviate their pain which means if the product is a great use for them in their daily lives. This proves that utility is a good evaluation factor for a Social Enterprise to be effective and efficient. This chapter also tackles the demand of needs and want of the people. The wants of the people today may become the needs of
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A business operation is the process of transforming raw materials into an output which have greater value than the raw inputs used. The chapter tackles the four key components of a business operation which are the raw materials, the transformation, the output materials and the added value. This chapter focuses on the processes of the operation of a company. These processes must be productive and can meet the set deadlines so that the promises made to customers will be fulfilled. A graphical representation of the activities and process of the company is useful to see the gaps that must be fix to have smooth operations that would deliver satisfaction to the customer. Operations Management also tackles about the inventory management where the inventory planning occurs. No inventory means there will be no products to be given to the customer. So it is needed to plan it out by determining the quantity to order and the time to order it. This is where the term of Economic Order Quantity is brought up in this chapter. This determines the economical quantity of inventory and economical time when to order the inventory. Marcel said that the Operation is the department which fulfills the promises of the Marketing Department. I agree with this statement because the step by step process of transforming inputs to outputs happens in here. Without a smooth managing operation, the social enterprise will not able to
Est1 Task 5
242 Words | 1 PagesTask 5 According to the utility theory, consumers would change their spending pattern if the satisfaction they gain from the products or the price of products alter. For instance, initially a consumer may be allocating her spending between two products, X and Y such as: Marginal utility of X = Marginal utility of Y Price of X Price of Y 20 = 35
Social Economy Dbq
412 Words | 2 PagesDuring the end of nineteenth century and the beginning of twentieth, America developed fast even passed over the Great Britain and France, those classic capitalism countries. What caused America became powerful at that time? The social economy and natural geographic location. These two elements interact each other. Social economy included the social system, political system, industrial development and every economic environment.
Moral Hazard Myth Summary
519 Words | 3 PagesThese economic concepts were scarcity and choice and self -interest. The first economic concept of scarcity and choice is seen when the authors discuss money as a limited resource. The limited resources which in this case is money by incomes that cause people to decline health insurance coverage. According to Sered and Fernandopulle, it is an individual’s choice not to get any health insurance because they cannot afford it. Sometimes it comes down to choosing to pay their bills or have proper health coverage.
Summary Of Ice To The Eskimos By John Spoelestra
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Swot Analysis Of Maple Leaf Foods
859 Words | 4 PagesThe utility of this philosophy is clear only demand exceeds offer. Its greatest draw back is that it 's not forever necessary that the client on every occasion purchases the cheap and simply on the market product or services. 2. Product
Philippa Foot Arguments Against Utilitarianism
1325 Words | 6 PagesThe context of the paper is discussion of why utilitarianism is consistently appealing. As Foot
Dymocks Mission Statement
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Essay On Divine Command Theory
1218 Words | 5 PagesThe main principle of utilitarianism is happiness. People who follow this theory strive to fulfill the “ultimate good”. The “ultimate good” is defined as ultimate pleasure with out any pain. It is said that the pleasure can be of any quantity and any quality, but pleasures that are weighted more important are put at a higher level than others that are below it. This ethical theory also states that if society would fully embrace utilitarianism then people would naturally realize their moral standing in the
Nestle Corporate Social Responsibility Case Study
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Ll Bean Case Study
1854 Words | 8 PagesIn all scenarios the inventory should be procured at the EOQ (Economic Order Quantity) level to minimise cost and stock outs. The above mentioned 5 steps would bring more reliability and predictability in the business relationship between L.L.Bean and its vendors. This collaborative supply chain will result in a flexible, agile, more responsive and stable supply chain with reduced lead times & reduced stock outs.
Compare And Contrast Economic Systems
757 Words | 4 PagesComparing Economic Systems There are three different economic systems Traditional, Market and Command. The survival of any society depends on its ability to provide food, clothing and shelter for its people. Due to the fact that these three societies face scarcity, which means “The state of being scarce or in short supply”, decisions concerning WHAT, HOW and FOR WHOM to produce must be made. However, another similarity is that all societies have an economy or an economy system which is an organized way of providing for the wants and needs of their people. This determines on the type of economy system they have.
Archie Norman Case Study Summary
1581 Words | 7 PagesThese are organizational procedures, systems, as well as, other interactions planned to produce a project or service (Spector, 2013, p. 6). In ASDA case, in order to make changes in regard to the poor quality and customer satisfaction, Archie could utilize and implement a total quality management process. Additionally, he could use a balance score card and run operations lean so that there would be a solid balance between the financial objectives and the internal/ external business processes. The balance between non-behavioral and behavioral elements can lead to success (Spector, 2013, p. 6). Next, to address the poor communication, the organization could change this behavior by linking and coordinating the vital value chain activities of the organization such as purchasing, delivering, sales etc.
Value Chain Analysis Of IBM
1674 Words | 7 Pages• Operations: These are the transformation activities that change inputs into outputs that are sold to customers. Here, your operational systems create
Strengths And Weaknesses Of Operations Management
968 Words | 4 PagesThe purpose of Operations management within an organization is to control the production process and business operations as efficient as possible to achieving overall organizational goal (investopedia.com, 2017). Therefore operation management creates policies, processes and procedures and also use various methods and techniques to maximize profits thus achieving organizational goal. Approaches or Techniques of operation management To improve the operational performance, operation management use various techniques to improve the operational performance. Some of these approaches are: Six Sigma Lean production Queuing theory TQM In this section below some of these techniques or theory has been explained: Six Sigma: Six sigma an effective and significant process improvement theory
Essay On Importance Of Operation Management
1486 Words | 6 PagesTASK 1.1 Importance of operation management Operations management (OM) is the business function responsible for managing the process of creation of goods and services. It involves planning, organizing, coordinating, and controlling all the resources needed to produce a company’s goods and services. Because operations management is a management function, it involves managing people, equipment, technology, information, and all the other resources needed in the production of goods and services. Operations management is the central core function of every company. This is true regardless of the size of the company, the industry it is in, whether it is manufacturing or service, or is for-profit or not-for-profit.
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