Business

Social Enterprise

Social Enterprise is not a legally defined form of organization in Hong Kong.  In some countries, for example Korea, they have developed related law to define and promote social enterprise (http://socialenterprise.or.kr/eng/info/What_is.do) though.

In general when we mention Social Enterprise we refer to company or organization which conducts business with social mission, while during the process they generate revenue and profit to sustain their business, instead of relying on charity / donation support or government subsidies.  With this definition, Social Enterprise can range from a non-profit making organization doing profit-generating activities, to traditional company doing socially responsible activities:

Source: Korean Social Enterprise Promotion Agency (http://socialenterprise.or.kr/eng/info/What_is.do)

Comparing to traditional company where we usually measure their business performance or economic impact, we measure social enterprise on both their economic impact as well as social impact, usually referred to measuring “double bottom line”.

Social Enterprises (Local References):

Impact Investors & Incubators 

Other References

seToolbelt (an open content resource hub that helps social entrepreneurs plan, launch, manage, and grow successful social enterprises): http://www.setoolbelt.org

 

Social Lean Canvas

Social Lean Canvas is a tool to help social entrepreneurs to apply the concept of Lean Startup to ventures that have social or environmental goals that exist independent of their profit motive.  Social Lean Canvas, which is a variation / adaptation from Lean Canvas, enables social enterprises to apply Lean Startup approach to develop coherent business models in a quick and simple way and then to methodically test them in order to arrive at a thoroughly validated, scalable, repeatable business model. Social Lean Canvas has been created by Rowan Yeoman & Dave Moskovitz in conjunction with the Akina Foundation.

http://socialleancanvas.com/wp-content/uploads/2014/01/SocialLeanCanvas.v5.pdf

http://socialleancanvas.com/wp-content/uploads/2014/01/SocialLeanCanvas.v5Users.pdf

 

Business Model Canvas

A business model is a method or process that a company creates, delivers and captures value, hence to generate revenue and make money. In 2010, Alex Osterwalder proposed a tool: Business Model Canvas in his book “Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers”.  Business Model Canvas is a tool summarizing the hypotheses that create values and visualising the business model in a diagram.  Through the 9 building blocks in the framework, the Canvas model allows you to describe, design, challenge, invent, and pivot your business model.

 

Lean Startup

Proposed by Eric Ries, the concept of “Lean Startup” is a new approach / method of creating and managing business startups.  Unlike the traditional approach, lean startup methodology emphasizes the “Build-Measure-Learn” cycle, by first getting the product to the market as soon as possible (Build) for market testing and customer validation (Measure).  By setting hypothesis n the market, the customer feedback would help developing right product to the target customer (product-market fit), so can avoid spending unnecessary resources and reduce the risk of product launch failure (Learn).

References:

Lean Impact: http://leanimpact.org

Eric Ries: http://theleanstartup.com/

Steve Blank: http://steveblank.com/