Entrepreneurship: is it good enough to be social? John F. McVea and Michael J. Naughton Introduction • The term Social Entrepreneurship has experienced a huge growth in influence over that last decade. The literature proposes a number of advantages to social entrepreneurship as a frame of reference: • Promoting innovation within non-profits • Leveraging and focusing scarce philanthropic resources • Faster response to strategic challenges • Infusion of business skills to non-business world • Involvement of non government assets in social problems • Creation of hybrid (blurred) organizations between for profit and non profit worlds. It is widely observed that practice has outpaced theoretical development leading to little agreement on definitions or frameworks for social entrepreneurship. We believe that widespread and unchallenged acceptance of the term Social Entrepreneurship masks some dangers and has contributed to confusion in the field. We believe that if we apply some insights from Catholic Social Teaching to the issue of social entrepreneurship we can move beyond the false dichotomy of Entrepreneurship/ Social Entrepreneurship and identify three specific entrepreneurial strategies which support a more robust discussion of the nature of the work that is entrepreneurship. We believe that the field would benefit from spending less time discussing social entrepreneurship and more time discussion the nature of the good entrepreneur. • • • • • The dangers of naïve acceptance of Social Entrepreneurship • • • The rhetorical risk: • Narrow definition: if S.E. is simply used to rebrand non-profits then much of the value of the new activities, hybrid design, stimulation of new resources and innovation is lost. • Implied dichotomy: if “good” ventures are termed “social” it can imply that other forms of entrepreneurship are “asocial” or “anti social” • Boundarylessness: In contrast, if all business activities are deemed “social”, to some degree or other, then the term loses all meaning focus on the distinctive phenomenon that is S.E. Despite these risks we are more concerned with a risk beyond rhetoric; the risk of undermining the meaning of work, particularly from the perspective of Catholic Social Teaching. While this perspective is drawn from the Catholic tradition, accepting the content of CST does not require acceptance of Catholic faith (Guitan, 2009). The three goods of social entrepreneurship • We are concerned by the side-effects of a concentration thesis that suggests that the moral responsibilities of entrepreneurship can be concentrated in a subset of businesses called social enterprises, presumably leaving other enterprise to simply concentrate on serving themselves. • We are concerned by the impact such a concentration thesis could have on the conception of the meaning of work beyond the world of social enterprise. • We are concerned with how such an approach can focus attention solely on the altruistic contributions of entrepreneurial ventures as the sole measure of their contribution to the Common Good • Instead we propose that, rather than trying to determine the difference between entrepreneurship and social entrepreneurship, it would be more productive to focus on the questions “What is Good Entrepreneurship? What action and activities define that goodness?” • We further propose that, by apply the perspective of Catholic Social Teaching, we can identify three specific strategies through which entrepreneurial ventures may contribute to the Common Good thus suggesting that good entrepreneurship requires a focus on: 1. Good Goods. The primary way an entrepreneurial venture can contribute to the Common Good is by bringing into existence new products and services which are inherently good and which enrich lives and minimize any unintended harms. This can include what we call the “entrepreneurship of the mundane”, that is, the manufacture of the nuts and bolts and basic necessities of life as well as the creation of life saving treatments. However, inclusion of good goods as a primary moral contribution of entrepreneurship must also require of the entrepreneur analysis of what goods are not good, and what aspects of even good goods should be redesigned or rethought in order to minimize unintended consequences. We find, in our discussions, that this is a much under appreciated dimension of the good of entrepreneurship. 2. Good Work. The second way an entrepreneurial venture can contribute to the Common Good is through the nature of the work that is carried out by the venture. This dimension has several aspects both internal and external to the entrepreneur: • The development of good character in the entrepreneur. This aspect of the good is derived from the subjective dimension of work, that is, just as how-we-work ends up changing the world, so working-on-the-world changes us. Most professionals spend the majority of their waking hours at work. As habits, character and wisdom are developed through experience and activity, for the entrepreneur, doing good work is an important opportunity to develop character. Society as a whole is better off for having good, successful entrepreneurial leaders who, through that calling, can become leaders of character. This dimension of the entrepreneurial good is widely unappreciated even by entrepreneurs themselves • Good relations with employees, customers and other stakeholders. Value creation and trade creates opportunities for the building of social relationships. The central question is “Are you in good relation with those with whom you create value?’ Do your employees have opportunity to develop as people? 3. Good Wealth. The third way the good entrepreneur can contribute to the Common Good is through the creation of good wealth. Good wealth requires a balance of reward for labor/ creativity with the provision of a living wage to all. Good wealth is often captured by individual action but has social strings attached. From the CST perspective the creation of good wealth implies a particular solidarity with the poor. One way to contribute to the common good is to donate altruistically to those in need. But even here, altruism is only one of a number of possible strategies. Good entrepreneurs may also contribute by donating their time or their particular skills. Indeed, since the donation of time and work often requires physical interaction with those in need, it often generates a solidarity of far greater integrity. Finally, it must be emphasized that altruism, for the entrepreneur, is always dependent, indeed subsequent to the creation of good wealth in the first place. Literature cited Alvord, Sarah, David L. Brown, and Christine W. Letts, 2004. “Social Entrepreneurship and Societal Transformation: An Exploratory Study,” The Journal of Applied Behavioral Science. 40:260. Benedict XVI, Caritas et veritate,   Boschee, Jerr. 1998 “What does it take to be a social entrepreneur?” National Centre for Social Entrepreneurs (www.socialentrepreneurs.org/whatdoes/html), 5pp.   Cannon, Carl. 2000. “Charity for profit: how the new social entrepreneurs are creating good by sharing wealth” National Journal, June 16: 1898-1904.   Christie, Michael and Benson Honig. 2006. “Social entrepreneurship: New research findings.” Journal of World Business. 41: 1-5.   Dees, Gregory, J., 1998. “The Meaning of ‘Social Entrepreneurship,’” Original Draft: 10/3.   Drucker, P.F. 1985. Innovation and Entrepreneurship. New York: Harper & Row.   Fowler, Alan. “NGDOs as a moment in history: beyond aid to social entrepreneurship or civic innovation?” Third World Quarterly, 21(4): 637-654.   Gregg, S. and G. Preece: 1999, Christianity and Entrepreneurship (The Centre for Independent Studies Limited, St. Leonards, NSW, Australia).   Hibbert, Sally A., Gillian Hogg and Theresa Quinn. “Consumer response to social entrepreneurship: The case of the Big Issue in Scotland.” International Journal of Nonprofit and Voluntary Sector Marketing. 7(3): 288-301.   Johnson, Sherrill, 2000. “Literature Review on Social Entrepreneurship,” Canadian Center for social Entrepreneurship. (http://www.bus.ualberta.ca/ccse/Publications/).   John Paul II, Pope.: 1992 Laborem Exercens (On Human Work): 1981, in D. J. O’Brien and T. A. Shannon, (eds.), Catholic Social Thought (Orbis Books, Maryknoll, NY).   John Paul II, Pope.: 1992 Sollicitudo Rei Socialis (On Social Concern): 1987 in D. J. O’Brien and T. A. Shannon, (eds.), Catholic Social Thought (Orbis Books, Maryknoll, NY).   Kennedy, R., G, Atkinson, and M. Naughton, (eds.): 1994, Dignity of Work: John Paul II Speaks To Managers and Workers (University Press of America, Lanham, Maryland).   Mair, Johanna and Ernesto Noboa, 2003. “Social Entrepreneurship: How Intentions to Create a Social Enterprise get Formed,” IESE Business School.   Mair, Johanna and Ignasi Marti, 2006. “Social entrepreneurship research: A source of explanation, prediction, and delight,” Journal of World Business. 41: 36-44.   Melé, D.:2001, ‘A Challenge for Business Enterprises: Introducing the Primacy of the Subjective Meaning of Work in Work Organization’, (http://www.stthomas.edu/cathstudies/cst/mgmt/le/papers/mele.htm) Conclusions We have argued that, while there is great promise in the contemporary social entrepreneurship movement, there are also a number of important dangers. We propose that, if we confront rather than acquiesce to these dangers, we can use the perspective of Catholic Social Teaching to broaden the scope of entrepreneurial ventures that we study, to enrich the moral dimension of entrepreneurial strategy and to deepen the teaching of entrepreneurship as a whole. We recommend the following to move toward these contributions: • Incorporate social entrepreneurship into entrepreneurship in a way that enhances the three goods of entrepreneurship. Specifically we propose replacing the questions “What is social entrepreneurship?” with the questions “What does it mean to be a Good entrepreneur?” From this perspective we can then apply what we have called the three goods of entrepreneurship as a means of supplying critical challenge and inspiration to all forms of entrepreneurship such that the true moral dimension of this critical force in our lives comes into fruition. • Encourage research within the entrepreneurship discipline that addresses traditional social entrepreneurial issues such as micro lending, fair trade products, etc. • Develop bridge courses such as Theo/Cath 306 which help students understand and experience the meaning of the good entrepreneur as well as connect students to the spiritual and moral principles of a good entrepreneur. • Expose entrepreneurship students to so-called social entrepreneurs as well so-called conventional good entrepreneurs so they can see the spectrum of entrepreneurial activities. © File copyright Colin Purrington. You may use for making your poster, of course, but please do not plagiarize, adapt, or put on your own site. Also, do not upload this file, even if modified, to third-party file-sharing sites such as doctoc.com. If you have insatiable need to post a template onto your own site, search the internet for a different template to steal. File downloaded from http://colinpurrington.com/tips/ academic/posterdesign. Acknowledgments I am indebted to Michael Naughton and Laura Dunham for their reflections and thoughts on this paper.
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“Germology Terminology” Infection versus Colonization • Infection: Bad news, bad news, bad news – Bad news: You’ve got it (it = bacteria “X”) – Bad news: It’s making you sick (invading your tissues and cells) – Bad news: It can be spread to others • Colonization: Bad news, good news, bad news – Bad news: You’ve got it (it = bacteria “X”) – Good news: It’s not making you sick – Bad news: It can be spread to others 10
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Examples of topics 65 NEU POS NEG breakfast times subway square place street tip close tips quiet new tips comfortable york floor desk excellent amazing square suite tip quiet service hotels lobby walk time little terrible bathroom breakfast place 18-24 NEU POS NEG new night nice lobby central city floor free price time york times square check night time friendly lovely fantastic minutes location bed floor service bathroom breakfast trip nightlife disappointing problem night Dover, Ohio NEU POS NEG ford bronco, make sure, lincoln ls, back seat, air control, fuse box, power loss car club, seat belt, heard good, good deal, wheel base, local ford, heard good interior design Isn’t bad, bad wire, bad wheel, gone bad, go wrong, find bad, negative battery Dover, Ohio NEU POS NEG female male throttle body, position sensor, ignition parts, power steering, fuel system dash light, nice car, back seat, right side, high end, drive truck, engine lights bad wheel, ford thunderbird, started acting, functional bad wheel, components bad wire, engine runs
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for Loop Lesson 3 Outline 1. 2. 3. 4. 5. 6. 7. 8. 9. for Loop Lesson 3 Outline for Loop with a float Counter: BAD! float Counter Example #1 float Counter Example #2 Why float Counters are BAD BAD BAD BAD float Counter Example #1 BAD float Counter Example #2 Replace float Counter with int #1 Replace float Counter with int #2 10. 11. 12. 13. 14. 15. 16. 17. 18. Debugging a for Loop #1 Debugging a for Loop #2 Debugging a for Loop #3 Debugging a for Loop #4 Debugging a for Loop #5 Changing Loop Bounds Inside Loop #1: BAD Changing Loop Bounds Inside Loop #2: BAD Changing Loop Index Inside Loop #1: BAD Changing Loop Index Inside Loop #2: BAD for Loop Lesson 3 CS1313 Spring 2019 1
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1. Intro - 2. Related Work - 3. Research Plan - 4. Conclusion Domain Dependence 1 Domain Dependent Sentiment  The same sentence can mean two very different things in different domains    Ex: “Read the book.” <= Good for books, bad for movies Ex: “Jolting, heart pounding, You’re in for one hell of a bumpy ride!” Good for movies and books, bad for cars. Sentimental word associations change with domain    Fuzzy cameras are bad, but fuzzy teddy bears are good. Big trucks are good, but big iPods are bad. Bad is bad, but bad villains are good.
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20.4 Financial ratios and credit analysis (20.5) Y  AX  BX i 1i 2i Table 20.2 Status and Index Values of the Accounts Yi Account Number Account Status  7  Bad 10  Bad  2  Bad  3  Bad 1.45  6  Bad 1.64 12 Good 1.77 11  Bad 1.83  4 Good 1.96  1 Good 2.25  8 Good 2.50  5 Good 2.61  9 Good 2.80  .81  .89      1.30
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Google Hits (Battery Related):             iPod battery good ~ 13.5 Mill iPod battery bad ~ 900 K iPod nano battery good ~ 3 Mill iPod nano battery bad ~ 785 K iPod shuffle battery good ~ 1.6 Mill iPod shuffle battery bad ~ 230 K iPod shuffle battery price good ~ 2.6 Mill (not a typo) iPod shuffle battery price bad ~ 230 K iPod battery price good ~ 13.5 Mill iPod battery price bad ~ 850 K iPod nano battery price good ~ 3 Mill iPod nano battery price bad ~ 785 K
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int Literal Constants Usage: Good & Bad We can use int literal constants in several ways:  In declaring and initializing a named constant: const int w = 0; /* This is GOOD. */  In initializing a variable (within a declaration): int x = -19; /* This is GOOD. */  In an assignment: y = +7; /* This is BAD BAD BAD! */  In an expression (which we’ll learn more about): z = y + 9; /* This is BAD BAD BAD! */ Numeric Data Types Lesson CS1313 Spring 2019 13
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float Lit Constant Usage: Good & Bad We can use float literal constants in several ways:  In declaring and initializing a named constant: const float w = 0.0; /* This is GOOD. */  In initializing a variable (within a declaration): float x = -1e-05; /* This is GOOD. */  In an assignment: y = +7.24690120; /* This is BAD BAD BAD! */  In an expression (which we’ll learn more about): z = y + 125e3; /* This is BAD BAD BAD! */ Numeric Data Types Lesson CS1313 Spring 2019 36
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Three Parts to the Bad Character Heuristic 1. When the comparison gives a mismatch, the bad-character heuristic proposes moving the pattern to the right by an amount so that the bad character from the string will match the rightmost occurrence of the bad character in the pattern. 2. If the bad character doesn’t occur in the pattern, then the pattern may be moved completely past the bad character. 3. If the rightmost occurrence of the bad character is to the right of the current bad character position, then this heuristic makes no proposal.
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Cartesian Product The Cartesian product of two sets is defined as: AB = {(a, b) | aA  bB} Example: A = {good, bad}, B = {student, prof} AB = (good, { student),(good, prof), (bad, student),(bad, prof)} BA = (student, good),(prof, good), (student, bad),(prof, bad)} { Fall 2002 CMSC 203 - Discrete Structures 14
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Cartesian Product The Cartesian product of two sets is defined as: AB = {(a, b) | aA  bB} Example: A = {good, bad}, B = {student, prof} AB = (good, { student),(good, prof), (bad, student),(bad, prof)} BA = (student, good),(prof, good), (student, bad),(prof, bad)} { CMSC 203 - Discrete Structures 14
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Expected Value Gamblers verses Entertainment Seekers and Thrill Seekers  Good poker players in Las Vegas may be good gamblers (seeking money). Good gamblers avoid other good gamblers, and seek bad players. Bad players can be bad gamblers (bad players that think they can win against good players) or can be thrill seekers or entertainment seekers.  A bad poker player that looses then says “at least I had fun” is an entertainment seeker.  Keanu Reeves is a well-known thrill seeker. He survived a near-fatal motorcycle crash in 1988 and still bears the scars of another accident in 1996. BA 445 Lesson A.4 Uncertainty 8
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Excellent at End of Week 70.0% Good at End of Week 30.0% Begin in Excellent Condition Average at End of Week 0.0% Bad at End of Week 0.0% Excellent at End of Week 0.0% Preventive Maintenance Good at End of Week 70.0% Average at End of Week 30.0% Begin in Good Condition Bad at End of Week 0.0% Excellent at End of Week 0.0% Good at End of Week 0.0% Begin in Average Condition Average at End of Week 60.0% Bad at End of Week 40.0% Excellent at End of Week 0.0% Good at End of Week 0.0% Average at End of Week 0.0% Begin in Bad Condition Decision Models -- Prof. Juran Bad at End of Week 100.0% 8
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Learning Conjunctions– Analysis (2) Call a literal z in the hypothesis h bad if p(z) > /n. A bad literal is a literal that is not in the target concept and has a significant probability to appear false with a positive example. Claim: If there are no bad literals, than error(h) < . Reason: Error(h) ·z 2 h p(z) What if there are bad literals ?   Let z be a bad literal. What is the probability that it will not be eliminated by a given example? Pr(z survives one example) = 1- Pr(z is eliminated by one example) · · 1 – p(z) < 1- /n The probability that z will not be eliminated by m examples is therefore: Pr(z survives m independent examples) = (1 –p(z))m < (1- /n)m There are at most n bad literals, so the probability that some bad literal survives m examples is bounded by n(1- /n)m COLT CS446 -SPRING ‘17 16
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Application: Estimating Bad Debt The Bad Debt homework exercise used data to estimate the probability that a particular invoice amount would end up as uncollectable, given its age. Suppose you have just made a sale today. What is the probability that the invoice amount will end up as bad debt? P(Bad Debt) = 2% Suppose an invoice has just gone past due (day 32)? What is the probability that it will end up as bad debt? P(Bad Debt | not paid in first 31 days) = (2%)/P(not paid first 31) = 3% But the important accounting question is: What is your expected bad debt?
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Quantitative Analysis Good decisions vs. good outcomes:  A structured, modeling approach to decision making helps make good decisions, but can’t guarantee good outcomes because of uncertainty (risk). • Life insurance is often a good decision, even when it turns out you do not die that year. • Other examples of good decisions with bad outcomes? • Betting your retirement savings on 17 Black in Roulette is often a bad decision, even if it turns out 17 Black wins. • Other examples of bad decisions with good outcomes? BA 452 Lesson A.1 Formulating Linear Programs 12
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Substitution and Income Effects Demand Shifts from Changes in the Prices of Other Goods When the price of Good X changes, the demand for Good Y responds in two steps:  The Substitution Effect: • Substitutes: Goods X and Y are substitutes if an increase in the price of one of the goods makes consumers more willing to buy the other good. • Complements: Goods X and Y are complements if an increase in the price of one good makes people less willing to buy the other good.  The Income Effect: An increase in the price of Good X decreases each consumer’s power to purchase goods. That decrease in purchasing power has the same effect as a decrease in income: • People are less willing to buy good Y if good Y is a normal good. • People are more willing to buy good Y if good Y is an inferior good. BA 210 Lesson I.4 Demand and Supply 9
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1-R Y-rich+h R*Y0+h Away-side Y-rich+h - R*Y0+h Near-side Y+h= Away-side Y-rich+h - R*Y0+h R Near-side R Y-rich+h Y-rich+h Y0+h Y0+h Results and interpretation Extraction of direct away-side yields Away-side Away-side Near-side Near-side Assume no near-side yield for direct  he yield of the associated particles per trigger the away-side yie 19 given by the yield subtraction of -rich and pure proper normal
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Operational Tips • Judging Analysis Quality • Compensating for a Bad Analysis: History of Data Void • Compensating for a Bad Analysis: Bad First Guess • Compensating for a Bad Analysis: Good Data Rejected • Compensating for a Bad Analysis: Analysis • Assumptions Violated • Compensating for a Bad Analysis: Tuning
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Nativists Environment Bad Constitution Good Good Bad Good Good Bad Bad
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Environmentalists Environment Bad Constitution Good Good Bad Good Bad Good Bad
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