PADM-GP 2310 Understanding Social Enterprise



PADM-GP 2310 Understanding Social Enterprise Fall 2018Course InformationSession Dates: 9/10/2018 to 12/10/2018Class Time: Mondays, 4:55pm – 6:35pmClass Location: 19 West 4th, Room 102 Instructor: Raj ThakkarCourse Goals and Objectives This course is designed to help students learn?how to launch and scale social enterprises.? Using business as a force for good, social entrepreneurs implement innovative private sector approaches to solve social, cultural and/or environmental problems. Surviving start-up and scaling to maximize impact is an art, science and emotional journey, especially when attempted without investors. Statistics show that approximately 4% of small businesses surpass $1 million in revenues, while only 0.4% surpass $10 million. The course begins by exploring methods and motivations of Certified B Corporations and draws upon the real-life successes and challenges faced by social entrepreneurs.? Students will complete several activities and projects to simulate the launching and scaling of their own social enterprises and should leave the course empowered with the tools, knowledge and depth of vulnerability involved with building a successful organization.Main ObjectivesThere are three main objectives for this course: To demonstrate how the growing field of social entrepreneurship is leading to a purpose-driven economy To familiarize students with practices to implement to become a Certified B Corporation and how these practices create shared value for all stakeholders and differentiate Certified B Corporations from “regular” businesses that solely focus on maximizing shareholder value and; To help students understand how they can use business as a force for good within any social enterprise they choose to launch or join.By the end of this course, students should be able to:Define key components of and considerations for launching and scaling social enterprises;Define a purpose, vision, mission, core values and culture for their social enterprises;Understand the importance of pivoting and navigating change as needed, recognizing founder’s syndrome and relinquishing responsibilities to staff when enterprise viability is proven and execution of scaling the strategy is the primary focus;Identify the components of a strong company culture as well as types of risk that should be considered and mitigated;Analyze classmates’ individual pitches and provide helpful recommendations and constructive feedback.Our exploration of these topics will involve completing several activities, reflecting upon impactful videos, reading inspiring articles/books and taking honest looks in the mirror to recognize who we are and the types of individuals needed to support the social enterprises students design. Course MaterialsRequired Books (available on or Barnes & Noble)The Purpose Economy, Expanded and Updated: How Your Desire for Impact, Personal Growth and Community is Changing the World, Aaron Hurst The B Corp Handbook: How to Use Business as a Force for Good, Ryan HoneymanLean Startups for Social Change: The Revolutionary Path to Big Impact, Michel GelobterOptional Books (that are geared towards for-profit entities, not social enterprises, which positively impacted the start-up and scaling of the instructor’s social enterprise)The E-Myth Revisited, Michael GerberStart with Why, Simon SinekLeaders Eat Last, Simon SinekDrive: The Surprising Truth About What Motivates Us, Daniel H. PinkTo Sell is Human, Daniel H. PinkStreet Smarts, Norm Brodsky and Bo BurlinghamMastering the Rockefeller Habits, Verne HarnishScaling Up, Verne HarnishPredictable Success, Les McKeownAn Everyone Culture: Becoming a Deliberately Developmental Organization, Fleming & LaheyThe Miracle Morning, Hal ElrodThe Pumpkin Plan, Mike Michalowitz Profit First, Mike MichalowitzSimple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock your Business Potential, Greg CrabtreeThe Ultimate Blueprint, Keith CunninghamThe Road Less Stupid, Keith CunninghamEmotional Intelligence: Why it can Matter More than IQ, Daniel GolemanThe Gifts of Imperfection: Let Go of Who You Think You’re Supposed to Be and Embrace Who You Are, Dr. Brené Brown Daring Greatly: How the Courage to be Vulnerable Transforms the Way We Live, Love, Parent, and Lead, Dr. Brené Brown The Surrender Experiment: My Journey into Life’s Perfection, Michael A. SingerThe Untethered Soul: The Journey Beyond Yourself, Michael A. SingerThe Alchemist, Paulo CoelhoAbout the InstructorInstructor InformationRaj Thakkar, Adjunct Professor of Public Service Robert F. Wagner Graduate School of Public ServiceNew York UniversityOffice Hours: By AppointmentCell Phone: 646-584-3364 Email: rthakkar@nyu.eduInstructor BackgroundSocial entrepreneur, Raj Thakkar, is widely considered a national expert on charter school finance. He has trained school leaders and board members on financial best practices in 25 states and launched two successful brands, Charter School Business Management (CSBM), founded in 2006, and FOREsight Financial Services for Good, founded in 2014. Both entities combined have 50+ staff members who serve 150+ nonprofits to responsibly manage and account for over $600 million in public funds.CSBM, thrice named Small Business of the Year for the eastern region of the U.S. by the U.S. Chamber of Commerce, exists to prevent charter schools which typically educate minority students who live in impoverished neighborhoods from closing due to financial mismanagement. FOREsight empowers nonprofits with the financial knowledge and services to achieve and maintain fiscal viability. CSBM/FOREsight is a Certified B Corporation dedicated to using business to solve social problems and has been recognized in multiple years by the certification entity, B Lab, as an organization that is Best for the World and Best for NYC based on the impact on the communities it serves and the outcomes its employees achieve every day.In recognition of his impact, Raj was named the Small Business Person of the Year for New York State by the U.S. Small Business Administration in 2018, one of the 50 Outstanding Asian Americans in Business by the Asian American Business Development Center in 2014 and one of the Top Entrepreneurs of 2013 by Crain’s magazine. In addition, key members of the CSBM/FOREsight leadership team have also received recognition for their work at the regional and national level.Raj is an Advisor for BE MORE America, a social enterprise that helps health systems, law firms and businesses live their values and unleash the potential of their communities by breaking unconscious racial and gender bias. He is also an active member of the NY chapter of Entrepreneurs’ Organization (EO) and previously led its diversity initiatives as a board member. Raj is a graduate of the Goldman Sachs 10,000 Small Businesses program, an initiative to help small businesses grow responsibly. He completed the Inner City Capital Connections (ICCC) program, administered and funded by the Initiative for a Competitive Inner City (ICIC). Raj is a performer in the productions of “Undesirable Elements” and “Secret Histories” for Ping Chong & Company, an award-winning, social justice theatrical arts nonprofit.In addition, Raj received his Bachelors in Engineering Science from Hofstra University and Executive MBA in Finance from NYU’s Stern School of Business. His parents who were entrepreneurs themselves came to the U.S. to pursue a better life and educational opportunities for him and his elder brother. Today, Raj is grateful for the ability to honor his parents by helping other parents and entrepreneurs to do the same.Teaching Assistant Contact InformationName: Shayne TrotmanEmail: Shayne.trotman@nyu.eduCell phone: 917.566.5259GradesYour grade in this course is based on five components:Attendance/Class Participation/Homework - 20%: Your attendance and active participation in and out of class is important in this intensive, discussion-rich, activity-rich course. I will be looking for you to demonstrate you have read and reflected upon readings, videos and assignments. You will read The Purpose Economy, The B Corp Handbook, and Lean Startups, all of which are critical for your knowledge about starting and scaling social enterprises. Key concepts from the readings and videos will impact your planning for all assignments, especially the Dolphin Tank pitch and Final Course Project. Each student must submit a brief weekly reflection summary of your personal reaction consisting of no more than 5 lines for each assigned reading and no more than 3 lines per video and indicate whether/how each will (or won’t) affect the design of your social enterprise. Although summaries will not be graded, they must be submitted timely and will be checked as done or not done. Late submissions will be considered not done.1 Paged Book Summary and Chapter Outline on the Topic of your Choice - 15%:Imagine the professor is an Investor in your dreams and you are pitching him the initial vision for your social enterprise. Write a summary (max 1 page, single- spaced, 12 pt. font) including the company name, mission, your “why” and the main problem your social enterprise will solve. Please choose a cause that you care deeply about personally and/or professionally. The professor fully recognizes how your idea may evolve/change completely upon further research/soul searching throughout the semester.2 Paged Paper on Interview of a Professional in the Industry of your Social Enterprise - 15%: While Google searches are helpful, there is a wealth of knowledge that may not be captured anywhere online. Each student will identify and conduct an informational interview (phone or in- person) with at least 1 professional in the industry of their social enterprise and write a short paper (max 2 pages, single-spaced, 12 pt. font) summarizing the interview(s) and share how the industry professional(s) helped you gain further insights that will impact the design of your social enterprise. Please do not submit a verbatim report of your question and answer session.“Dolphin Tank” In-Person or Video Pitch - 20%: Each student will pitch their social enterprise to the whole class, either in person with an accompanying slide deck or with a video presentation prepared/submitted in advance (max3.5 min). Students and other guests in the audience (if any) will record and send helpful (both positive and constructive) feedback via a confidential online survey. The survey will remain open for 2 days post-pitch (for any additional thoughts), where the feedback will be shared with each presenter by the end of that week. You will submit your slide deck as a PDF before presenting. The grade for this assignment will be based on both the in-person/video presentation and your slide deck.Final Course Project - 30%:Throughout the course, you will design your own (no groups or partnerships) social enterprise and answer key questions for your social enterprise. Students will write up a modified version of a Mind Trust Education Entrepreneurship Fellowship Application and provide answers to the following questions. Please write as if your social enterprise already exists. (My social enterprise is…, not my social enterprise will be…) Please copy and paste each of these questions/statements and include your responses below each one. (max 5 pages, single-spaced, 12 pt. font)Describe your social enterprise in 50 words or less.What is your social enterprise's purpose, vision, mission and core values?Clearly define the specific problem your social enterprise is trying to solve. Why and how will your social enterprise address an urgent and compelling need? Who or what cause will your social enterprise serve? What are their needs?Clearly explain the services and/or products your social enterprise will provide.How will your social enterprise secure/retain clients and generate revenues? What types of expenses will it spend money towards? Do you anticipate being profitable? Why or why not?Describe your social enterprise's culture and organizational structure and share how they may evolve over time. How will you retain staff members?Which organizations or individuals in NYC and/or elsewhere are critical to your success? Why? How will you establish a relationship with these organizations/individuals? What have you learned from their approaches? If they are similar to the organization you are proposing to launch, how does your approach differ from theirs?What are the impact outcomes (e.g. gains, systemic improvement, policy changes) your social enterprise seeks to achieve? How will you measure success in addressing the urgent problem you plan to tackle?How did your social enterprise evolve since your initial vision? What specific changes or pivots did you consider and/or make upon reading the feedback received after your Dolphin Tank presentation?Why are you the right person to launch your social enterprise? Why is it important to you personally and professionally? What are your best entrepreneurial skills and attributes? Are you more of a Visionary (#1) or Executor/Operator (#2)? Which types of complementary individuals will you need to hire? Which types of advisors will serve you best?Please note: One third of a letter grade will be deducted per day of late submission for all graded assignments.Non-graded submissions that are late will be considered not done.Some assignments are designed to prepare you for the next class, while others intend to supplement and/or reinforce what was learned in a previous class.One page is defined as one side of one page, not two.No extra credit opportunities will be offered.Course Rules and RequirementsAbsences: Attendance will be taken for each class. As active participation is an important element of your grade, so is attendance. Any more than three absences will result in a zero for the attendance portion of your grade. Please notify the Teaching Assistant and me by email prior to any class in which you will be absent or late. Group Work: Some of the in-class activities may involve group work. You are expected to work cooperatively in such groups and to be an individual contributor to the group process. Group dynamics will be observed and will also contribute to the class participation portion of your grade.Preparation: As stated in the syllabus, this course involves reading assigned materials, watching videos and completing assignments. Therefore, coming prepared to class is absolutely required. Students may be asked questions whether or not they offer to participate so please make sure you are prepared. Wagner School Policies: The course will be subject to all Wagner School policies including those regarding Withdrawals and Incompletes.Course Outline & Assignments (More assignments may be given at the end of each class.)September 10: Building TrustLearning about Each Other & Course OverviewAdvanced Preparation for your Final Course Project: Think about and note your personal purpose, your professional purpose, whether they intersect in any way and why/how they could be leveraged into a purpose for the design of your social enterprise. There is nothing to submit for all of the advanced preparation assignments related to the Final Course Project. These recommendations are solely to help you draft it throughout the semester instead of waiting until the end. This is an intentional part of the course because as an entrepreneur, there is technically no one holding you accountable except yourself. Assignments to complete by Sept. 17:Read The Purpose Economy: Chapters 1-5Watch Susan Cain: The Power of Introverts - TED Talk (18:57)Watch Tim Ferriss: Why You Should Define Your Fears Instead of your Goals - TED Talk (13:22)Watch Brene Brown: The Power of Vulnerability - TED Talk (20:19)Review The Charter School Business Management website and the FOREsight website to better understand the instructor’s social enterprises (No reflection summaries for this one.)Complete Reflection Summaries for each of the assignments above, except where specified.September 29: Fear & VulnerabilityCrucible Moments & Start-up ChallengesAdvanced Preparation for your Final Course ProjectReflect on and note your personal and professional core values and whether you would include some/all of them into your social enterprise.Assignments to complete by Sept 24:Read The Purpose Economy: Chapters 6-12, ConclusionWatch Simon Sinek: How Great Leaders Inspire Action - TED Talk (17:58)Watch Simon Sinek: Why Good Leaders Make You Feel Safe - TED Talk (11:56)Watch Carol Dweck: Mindset - Animated Book Summary (7:22)Watch Michael Singer: The Untethered Soul - Chapter 1 The Voice Inside Your Head - read by Naqueen Zaire (21:04)Watch Michael Singer: The Untethered Soul - Chapter 2 Your Inner Roommate - read by Naqueen Zaire (17:11)Review the bfree website and the founder’s linkedin page, and her Bleeker page to get to know next week’s guest speaker. (No reflection summary for this one.)Complete Reflection Summaries for each of the assignments above, except where specified.September 24: AlchemyCreating Something MagicalToday’s Guest SpeakerNita Baum, Founder and Co-Creator of b*freeAdvanced Preparation for your Final Course ProjectReflect on and note your key strengths and areas for growth that may help you identify the complementary types of individuals you will need at your social enterprise.Assignments to complete by Oct 1:Read Lean Startups: Chapters 2 & 4Read The Mind Unleashed Study Shows Born Creative Geniuses, Education System Dumbs UsWatch Look Beyond Borders - 4 Min Experiment (5:00)Watch Adam Grant: Originals - Animated Book Summary (11:51)Watch Eric Ries: The Lean Startup - Validate your Business Idea - Animated Book Summary (8:48)Watch Mike Michalowicz: Profit First - The Riches are in the Niches (4:14)Watch Mike Michalowicz: The Pumpkin Plan - Grow by Saying No (1:46)Review Lori Clement's Linkedin page and CSBM page to get to know next week’s guest speaker. (No reflection summary for this one.)Complete Reflection Summaries for each of the assignments above, except where specified.October 1: Relationships & SalesDepth vs. Breadth & Solo vs. TeamToday’s Guest SpeakerLori Clement, Manager of Growth of CSBM and FOREsightAdvanced Preparation for your Final Course ProjectReflect upon and note the problem you’re attempting to solve with your social enterprise and which services and/or products that will be created/provided.Assignments to complete by Oct 15:Read The B Corp Handbook: Beginning-p. 92 (through the Good for the Community section of Chapter 3)Watch Daniel Pink: To Sell is Human - The Surprising Truth about Moving People - Animated Book Summary (3:13)Watch Bob Burg and John David Mann: The Go-Giver - Animated Book Summary (4:26)Watch Adam Grant: Give and Take - Animated Book Summary (3:45)Submit the 1 paged Summary for the Initial Vision of your Social Enterprise by 11:55pm on 10/14 at the latest via NYU Classes. See Grade section for more details. (No reflection summary for this one.)Review David Osborne’s LinkedIn page and TeamTheory page to get to know next week’s guest speaker. (No reflection summary for this one.)Complete Reflection Summaries for each of the assignments above, except where specified.No class on October 8October 15: Using Business as a Force for GoodCertified B CorporationsToday’s Guest Speaker:David Osborne, Founder & CEO of TeamTheoryAdvanced Preparation for your Final Course Project:Draft your purpose, vision, mission and core values for your social enterprise. If it can be helpful to you, research the purpose, vision, mission and core values of existing social enterprises or nonprofits in the industry of your social enterprise.Assignments to complete by Oct 22:Submit the Paper on your Informational Interview by 11:55pm on 10/21 at the latest via NYU Classes. See Grade section for more details.Read The B Corp Handbook: p. 94-193 (Chapter 3 Good for the Environment through Acknowledgments)Watch Kim Scott: Radical Candor - Be a Kick-Ass Boss Without Losing Your Humanity (21:20)Watch Daniel Pink: Drive - The Surprising Truth about What Motivates Us - Animated Book Summary (10:47)Review HYPERLINK "" Marcel Berger’s LinkedIn page and CSBM page to get to know next week’s guest speaker. (No reflection summary for this one.)Complete Reflection Summaries for each of the assignments above, except where specified.October 22: Talent & CultureRecruiting, Hiring, Onboarding, Evaluating & Parting WaysToday’s Guest SpeakerMarcel Berger, Talent Specialist of CSBM & FOREsight and EntrepreneurAdvanced Preparation for your Final Course Project:Reflect upon and document culture-related ideas and the organizational structure you’d like to implement at your social enterprise.Assignments to complete by Oct 29:Read Lean Startups: Chapters 5, 6 & 7Read Netflix CultureRead Founder's Syndrome: How Corporations Suffer and Can RecoverWatch Marissa Levin: Built to Scale - How Top Companies Create Breakthrough Growth through Exceptional Advisory Boards (28:58) (Please don’t mind/be offended by the references to dating.)Watch Ryan Holiday: Ego is the Enemy - Animated Book Summary (7:53)Complete Reflection Summaries for each of the assignments above.October 29: Blind SpotsSurviving Founder’s Syndrome & Engaging Executive Coaches and/or Advisory BoardsAdvanced Preparation for your Final Course ProjectReflect upon and note which organizations in and out of NYC are similar to and different from your social enterprise that helped you understand your industry better.Assignments to complete by Nov 5Submit Pitch Deck Slides as a PDF (or finalized video if you opted to do that) by 11:55pm on 11/4 at the latest via NYU Classes. See Grade section for more details.November 5: Dolphin Tank Pitch & Feedback DayAdvanced Preparation for your Final Course ProjectReflect upon and note specific changes or pivots you plan to make, if any, after pitching and reading the feedback received after your Dolphin Tank presentation.Assignments to complete by Nov 12:Watch Verne Harnish: Rockefeller Habits Checklist (9:29)Complete a Reflection Summary for the assignment above.November 12: Rhythms & RitualsBuilding Systems, Documenting Processes and Measuring ImpactAdvanced Preparation for your Final Course ProjectReflect upon and note the outcomes and impact you are aiming to achieve with your social enterprise.Assignments to complete by Nov 19:Watch Cameron Herold: Meetings Suck - Animated Book Summary (2:53)Review Karen Daniels’ CSBM page and LinkedIn page to get to know next week’s guest speaker. (No reflection summary for this one.)Complete a Reflection Summary for the assignment above, except where specified.November 19: Navigating ChangePivoting & Managing RiskToday’s Guest Speaker:Karen Daniels, President & COO of CSBM & FOREsightAdvanced Preparation for your Final Course ProjectAnswer any incomplete questions and review the draft of your Final Course Project.Assignments to complete by Nov 26:Watch Patrick Lencioni: The 5 Dysfunctions of a Team - Animated Book Summary (3:22)Watch Next Jump as a Deliberately Developmental Organization (92:30)Complete Reflection Summaries for each of the assignments above.November 26: FinanceBuilding Awareness of Common Mistakes & Surviving Potential DisastersAdvanced Preparation for your Final Course ProjectReflect upon how your social enterprise will generate revenues, which expenses it will spend money on and whether it can be profitable.Assignments to complete by Dec 3:Watch David Marquet: Turn the Ship Around - Animated Book Summary (9:47)Watch Verne Harnish: Scaling Up - How a Few Companies Make It and the Rest Don't - Book Summary (3:13)Review Rob Herzog’s bio on the ZogSports website and his LinkedIn page to get to know next week’s guest speaker. (No reflection summary for this one.)Complete Reflection Summaries for each of the assignments above, except where specified.December 3: Uncharted TerritoryScaling Up, Empowering Staff & Relinquishing ControlToday’s Guest Speaker:Rob Herzog, Founder & CEO of ZogSports & ZogCultureAdvanced Preparation for your Final Course ProjectIf you have procrastinated on completing the Final Course Project, I tried my best to encourage you to be proactive and fully experience entrepreneurship. Assignments to complete by Dec 10:Review Chintan Panchal’s bio on the RPCK website and his LinkedIn page to get to know next week’s guest speaker. (No reflection summary for this one.)Submit your Final Course Project by 11:55pm on 12/9 via NYUClasses. See Grade section for more details.December 10: Key Takeaways, Next Steps & Raising MoneyToday’s Guest Speaker:Chintan Panchal, Founder of RPCK Rastegar PanchalBest of luck to each of you and hope you stay in touch!Academic IntegrityAcademic integrity is a vital component of Wagner and NYU. All students enrolled in this class are required to read and abide by Wagner’s Academic Code. All Wagner students have already read and signed the?Wagner Academic Oath. Plagiarism of any form will not be tolerated and students in this class are expected to?report violations to me.?If any student in this class is unsure about what is expected of you and how to abide by the academic code, you should consult with me.Henry and Lucy Moses Center for Students with Disabilities at NYUAcademic accommodations are available for students with disabilities. Please visit the Moses Center for Students with Disabilities (CSD) website and click on the Reasonable Accommodations and How to Register tab or call or email CSD at (212-998-4980 or mosescsd@nyu.edu) for information. Students who are requesting academic accommodations are strongly advised to reach out to the Moses Center as early as possible in the semester for assistance.NYU’s Calendar Policy on Religious HolidaysNYU’s Calendar Policy on Religious Holidays states that members of any religious group may, without penalty, absent themselves from classes when required in compliance with their religious obligations. Please notify me in advance of religious holidays that might coincide with exams to schedule mutually acceptable alternatives. ................
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