Week #10

A hybrid business is a for-profit business that actually focuses on a social cause, for example a buy one, give one model. This model can be introduced in shoes, school supplies, etc. A hybrid that we learned about is TOMS, a company I don’t really agree with because they are apparently creating more damage than good. The thing that bugs me the most is that they don’t want to admit it. What they are doing is taking out any local shoe businesses because TOMS shoes are free and given to the people and because they believe they can benefit from that there is no need to buy shoes at the local shops. It is hurting the economy in South America and in the different countries in which they are located.

The more I think about a Buy One, Give One model I think it would be more beneficial if you were to buy TOMS, for example and the equivalent amount, let’s say, $50 is put into something that the local people really need; maybe starting their own local business. With the Buy One, Give One model you’re limiting yourself to things that the developing world may not need or want, but could benefit from the amount of money that product is in using it for something they really do need or want. I believe the Buy One, Give One model could be better and applied in such a way that can really help the economy in developing countries.

Week #9

         I continue to think what I will do for my career, something that will enable me to provide for my family but also allow me to do good in the world and hopefully solve a social problem or two. The more I think about social business I wonder how I can apply those principles and concepts that have been done before and still be innovative in my career of doing whatever I’ll chose to do.

         I believe a business can still be considered a social business if it makes profit and attempts to provide solutions to social issues. To me, that seems like the definition of what a social business is and we are seeing more and more of those types of businesses in the world today.

         The different between philanthropy and business is one is more focused on funding and putting money into social causes whereas business is more for gain and capital for the company itself. In social entrepreneurship the contrast by finding that middle ground of where to put the money and how to actually make the money. They coincide by putting to two together in a social business where the motive to make the money is geared towards social causes, but you’re still striving to make a profit.

Week #13

This week one of the TED talks really stood out to me, “Want to help someone? Shut up and listen!” by Ernesto Sirolli. What he had to say was perfect and is something I strongly believe in. I thought it was so interesting how he said there is zero infrastructure and no offices or buildings that they are located out of. They take on the challenge of reaching out to the individual and their specific needs. Now that to me is impressive and inspiring. I would love to be apart of his organization to help the people and also find more innovative ideas that we can apply to his organization.

Reflection Questions:

·      What do you think President Hinckley means when he says that we need time to meditate? How does this help us improve?

I believe this is very relevant to our day because we live in times of deadlines, rush hour, busy work schedules, and so many things we create for ourselves that make us really busy. If we follow President Hinckley’s council to stop and meditate it will enable us to see things as they really are. As I’ve applied this in my life I’ve noticed a difference with how I’m able to accomplish things and I don’t get burned out because I’m able to prioritize and see things clearly. Meditation has been huge for me in my creative ability to be innovative and think of ideas that help others and myself succeed.

·      From the talks you have read, what do you feel is the most applicable thing you have learned that applies to creating a successful business?

I believe if we can channel a lot of our energy towards helping and blessing the poor and the needy we will be blessed with success. I love how Elder Holland stressed the fact that Jesus Christ’s ministry was focused on the poor and the needy and he blessed them and made promises with them that they would receive the kingdom of God. I know that as we have empathy for those that are poor and needy it will move us with compassion to create life-changing experiences for them and a bi-product of that would be a successful life in business.

Week #12

This week I enjoyed the reading from How to Change the World and the principles it taught. Some of the key things it taught are the following: Willingness to Self-Correct, Willingness to Share Credit, Willingness to Break Free of Established Structure, Willingness to Cross Disciplinary Boundaries, Willingness to Work Quietly, and Strong Ethical Impetus. These are all important and I truly believe we should apply them as we strive to work with others, whether they be our partners, employees, clients, etc., we should be aware of these principles so we can perfect them in our dealings with the people we encounter.

Other than providing loans and money to the poor, explain other benefits that came about from Muhammad Yunus' Grameen Bank.
After that took place, there was something that is extremely important that was realized, the poor can be trusted and be reliable. The Grameen Bank's statistics were amazing when it came to the poor paying back their loans at 97%. All these people wanted and needed was an opportunity and the Grameen Bank offered that.

How did Muhammad Yunus have to "unlearn and relearn" what economics had taught him?
He was taught to have a certain mindset about lending and interests and things that had to do with the upper class citizens who had money. When he decided to start a bank for the poor he had to unlearn the mindset of working with the "wealthy" and relearn how economics really can benefit everyone. Essentially, the key was changing his mindset and the mindset of those around him.

Week #7

Something that stuck out to me this week wasn’t in class, but in the entrepreneurship society meeting this Thursday. Brother Earl spoke and gave one of the best insights I’ve ever heard in my life. It was so impactful that I feel it was another rare cornerstone which was laid for a foundation of success in my life; something I needed to hear in order to become my full potential. He quoted Elder Bednar who gave a great speech. I won’t speak too deeply about what Elder Bednar said, but he quoted President Packer who said the following, “It is the understanding of almost everyone that success, to be complete, must include a generous portion of both fame and fortune as essential ingredients. The world seems to work on that premise. The premise is false. It is not true. The Lord taught otherwise. I want you, our children, to know this truth: You need not be either rich or hold high position to be completely successful and truly happy. In fact, if these things come to you, and they may, true success must be achieved in spite of them, not because of them.” When I heard this, it felt right to me. I want to live this way for the rest of my life.

As a philanthropist you need to make decisions that are based on the potential outcome of the organization in which you’re about to invest. What research has been done proving that this product or service is needed? Has it been tested, and if so, what were the results? Philanthropists need to make the decision of how much money to invest and for how long. Philanthropist should be involved in their investments and make it their passion. It would be a good idea to be aware of the financial status of the organization quarterly. These are some of the decisions and things to consider in the process of investing resources.

When a business invests in a cause they should consider those causes that may be personal or have a passionate drive behind them. Once your are emotionally involved then the drive to make something function properly and be sustainable is more valuable and important. The emotional engagement is what will carry you through the times that are filled with stress, failure, doubt, and even pain. If you are passionate and know that the service or product is something that is actually creating wealth (spiritual, emotional, physical, mental) then you’ll find a way to succeed.

Week #6

This week our guest speaker was Heidi Fransen who spoke about Operation Underground Railroad. She is from Rexburg and has been promoting O.U.R. the past year. Operation Underground Railroad was founded by Tim Ballard, a former CIA agent who specialized in human trafficking. He started O.U.R. about a year ago in order to save children that are slaves to human traffickers that sell these children for sex.
Heidi Fransen gave information that was almost hard to believe because of the remarkable statistics and facts. There are about 2,000,000 children being held against their will sold as sex slaves. There are about 200,000 children in America that are being trafficked. The number one consumer is Americans. Child sex slavery is one of the biggest problems right next to drug trafficking and arms trafficking.
Something that killed me to hear was that the children will be rapped around 30 times a day and their life expectancy is about 7 years because they turn to drugs and alcohol to numb the pain. Tim Ballard and his team have connected with the Elizabeth Smart Foundation which helps the children to recovery after they are saved. The children are physically, emotionally, mentally, and spiritually damaged and need years of rehabilitation. O.U.R. train the different governments that they work with so they can independently perform these operations.
The human traffickers get these children through different medians. Some parents will sell their children in order to get more money because they are so poor. Human traffickers will also offer great opportunities and deals the children and the parents will accept because they want a better life for their children, but then it turns into something they didn't expect. Another huge portal of finding these children are through social media. Tim Ballard said, "The internet is the portal to the darkest places in the world." We may not realize it, but there are more and more people that are getting involved with these children sex slaves because it all stems from pornography. It may start with soft porn which leads to harder porn which leads to child pornography which ends up trying to find pleasure with real children. It is sick, but very real and we cannot ignore it.
Right now O.U.R. is trying to spread awareness because not a lot of people know about it. Heidi has been a huge asset for the organization through promoting it and getting them to show their documentary, Abolitionist here in Rexburg.
We can get involved by visiting their website, www.ourrescue.org and finding ways to help promote and get involved in the stop against pornography and human trafficking.

In class we also went over a few things of how to start a business and what to expect. One of the questions posed is, "What do you think of the statement by Mike Tyson 'Everybody has a plan until they get punched in the mouth' in reference to starting up a business? How is this statement true regarding brand new enterprises? I believe that it is important to be flexible in the plans we make because starting a business creates opportunities to make changes, develop ideas, and make the product or service more relevant to the consumer.

Peter Singer states that each of us spend money that we don't really need. What does he suggest we do with that money? What is the most effective way to give charitably?
We could find different charities that are valuable, trustworthy, and actually making a difference in the world. We will have to do our research because there are different kinds of charities and some are more specific to certain issues. We can all give to different movements that are taking place today.

Week #5

I really enjoyed this week's topics. We learned about outputs, outcomes, and impacts. I've thought a lot about this. In one of the readings it talks about the importance to measure the outcomes in order to notice and observe the impacts. One reason why this is important to me, to make sure that you really are making a difference and not just wasting time, money, efforts, etc., in order to please your own desires, is because where I'm from I've seen that happen. I'm from the Navajo Reservation and there are Caucasians from Utah that want to "help" and so they'll dump off random things like candy, foot, old clothes, etc., and all that stuff goes to waste, it is literally thrown away as soon as we get it. My dad has made enemies with some people because he'll tell them to go through him in they want to make a difference. They think they can come in to some place and try to make a difference without contacting the local leaders? That isn't the way it should be, they didn't understand the concepts of outputs, outcomes, and impacts.
One of the questions that we are not asking when striving to make a global impact is "what works for them?" Ask those you are trying to serve and the locals what they're needs are. In order to come up with a great solution it is necessary to do research before, but sometimes a lot of the questions come after trying it, that is why focus groups are so essential. Sometimes the most simplest solutions are the most important solutions because they are the ones that work most effectively and efficiently. When thinking of a solution, it can be hard to know what the consequences are, but that is one thing you have to practice, is trying to understand what the long-term affects will be if we come up with this solution.
The question, "Do you think it is worth the money and the resources to accurately measure impact for a nonprofit organization?" is interesting because I think it can depend. First of all, I'm not sure how much money it costs to do an extensive form of research on impact, but I'm sure it's something to consider when trying to decide whether to do it or not. And second, I think it's sometimes difficult to accurately measure the impact in some cases. I do believe that research and resources should be put into any project, but for me the question is how and how much of it will you perform? I strongly believe that in order to know if you are accomplishing something good in the lives of others and to see if you can do better or anything differently, it is necessary to do research and invest in resources to figure out what is actually happening in the project.