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Terms in this set (32)
seeks to address social issues, be kind to the planet and still enrich shareholders; how you impact society
organizations that have created business models that cater to basic human needs which are not currently being served
individuals who use their drive and motivation as traditional entrepreneurs and focus on a mission that can positively impact society
three critical attributes of social entrepreneurs
1. a specific vision of the purpose and goals and objectives of the organization
2. the ability to use his or her leadership skills to champion the implementation of his or her vision
3. the will and motivation to be committed to develop the business so that it will be sustainable in the long term
Four types of capital in order to succeed
1. financial capital
2. social capital
3. environmental capital
4. aesthetic capital
How old was the girl in the video when she got her first pair of shoes?
15 years old
What country is the TOMS logo modeled after?
How much did professor say they would need to start business?
1 million dollars
How much was minimum order/how much did they actually start with?
1,000 meter minimum/found someone to do 10 meters at a time
1st year goal was to sell how many pairs of shoes?
2,000/ended up with 10,000
What percent of the world's people don't have shoes?
the creation and growth of wealth for the firm
the "wealth" that is generated to the community and society through the operations of the social entrepreneur's organization; how operation is helping society
the "wealth" created by focusing on environmental sustainability issues by the organization; impact on environment
the intangible "wealth" that is created by developing a "feel good factor" by making the world a better place to live in; can't quantify but good will and estimate of intangible assets; gets committed people to work for company who love vision
When, where and by whom was TOMS founded?
Santa Monica in 2006 by Blake Mycoskie
What are the 10 characteristics of successful social entrepreneurs?
1. disregard constraints
2. use innovation to determine practical solutions to solve social problem
3. use innovation on development of new products
4. Focus on using org's mission to create social value and share knowledge
5. don't wait until all resources are available to capitalize on opportunity
6. everyone has ability to contribute to economic and social development of org
7. every entrepreneur is willing to take risks to succeed
8. Balance passion for project with ability to measure social impact
9. Good social entrepreneurs are also good teachers
10. entrepreneurs have to be impatient when they don't see progress
How did they get the TOMS idea?
Polo players in Argentina wore canvas "espadrilles"
What was the original name of TOMS?
Tomorrow Shoes; too long so shortened to TOMS
Strategic focus of TOMS
uses mixed model of for profit with focus on philanthropy (caring capitalism); use word of mouth and social media; simple design to reduce costs (average of $50)
Why do they need shoes?
Many shoes require them, must walk long way for water, can get diseases like hookworms, podoconiosis and jiggers
parasites that enter the body and live in small intestine and can cause blood loss
silica found in volcanic soil blocks lymph mode in lower limbs; called big foot disease
female sand fleas that feed on human blood, causes severe inflammation and damage in the foot
infection of the nervous system caused by bacteria; enters through injury and can affect nerve signals
One for One Program
for every one pair of shoes sold one is donated, identify communities where there is the greatest need for children to receive shoes, use economic and health and educational conditions to determine
1. Find your story
2. face your fears
3. be resourceful without resources
4. keep it simple
5. build trust
6. giving is good business
How many countries does TOMS produce in and how many countries does it provide shoes to?
produce in 3 countries (Argentina, China, Ethiopia), provide to 23 countries
started in March 2012, extension of product line with same one for one
should they teach them to make shoes instead, privately held so is it really a marketing campaign?
What kind of strategy is TOMS?
TOMS direct competitor
BOBS, created by skechers
THIS SET IS OFTEN IN FOLDERS WITH...
MNGT 4100 Chapter 1
MNGT 4100 Chapter 2
MNGT 4100 EXAM 1
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