Social Enterprise Chapter 6 – Flashcards

"An organization or venture (within an organization) that advances a social mission through market-based strategies. These strategies include receiving earned income in direct exchange for a product, service or privilege."

1. "Nonprofits are becoming more 'business-like' in their strategies and income-generating activities." 2. "For-profits show an increasing tendency to embrace and advance important social and environmental causes." 3. "Fiscal challenges brought on by the recession might prompt more organizations to consider additional routes for generating added revenues." 4. "It could cause them to delay taking the plunge because of financial uncertainty" 5. "Once organizations become engaged in social enterprise, they are likely to deepen their engagement over time."

1. Education and training 2. Retail/thrift shop 3. Consulting services 4. Food services/catering 5. Arts venture

The most common social venture structure is education and training.

Donations from individuals are the second most common source of capital behind foundation grants.

Shepherd Ministries launched Shepherds College, a post-secondary educational program for people with intellectual disabilities. Their biggest challenge was sales and marketing.

Sharon Young, from Magnolia School, developed an arts program called The Dream Factory. This facility creates a supportive and challenging arts environment and enables participants to make money by selling their work in the Magnolia School's retail gift shop and art show.

An effective performance measurement system "enables corporations to collect data that identify potential improvements to their business models. By acting on this data, a company can ultimately increase its financial performance."

1. Measure- track performance using selected indicators 2. Repost- Communicate performance internally and externally 3. Learn- Extract knowledge from the data, identify opportunities for improvement, and make data-driven decisions 4. Improve- Implement decision to improve activities and operations

1. Organizational health indicators- "provides insight into the organizations' capacity to carry out its mission including progress toward financial sustainability." Pg. 156 2. Program performance indicators- "helps an organization assess the outputs or short-term results generated directly by its programs and activities." Pg. 156 3. Social and economic impact indicators- "Allow an organization to assess its outcomes, that is, its longer-term progress in meeting its mission and realizing its vision of success."

"The purpose of a dashboard is to provide a snapshot of the organizations' progress on its way to its vision of success." It will include a list of indicators along with the goal markers and the end target the organization will work to achieve. Management dashboards are perfect for performance measurement systems