Social Enterprise
Social Enterprise
HBS pioneered the concept of “social enterprise” with the founding of its Social Enterprise Initiative (SEI) in 1993. Under the early leadership of James Austin on the importance of collaborative relationships to the success of nonprofits and Allen Grossman and V. Kasturi “Kash” Rangan on new directions in nonprofit strategy, we adopted a problem-focused approach toward understanding the challenges associated with driving sustained, high-impact social change. Current research focuses on leadership of socially mission-driven organizations; the role of business leaders and corporate citizenship in driving social change; business models that address poverty; management of high-performing K-12 public school districts; and financing models for the non-profit sector.
Initiatives & Projects
The Social Enterprise Initiative, Business & Environment Initiative, and Health Care Initiative apply innovative business practices and managerial disciplines to drive sustained, high-impact social change.
Social EnterpriseBusiness & EnvironmentHealth CareRecent Publications
How Robust Is Your Climate Governance?
- November–December 2024 |
- Article |
- Harvard Business Review
To better understand how climate issues are being handled in the boardroom and to determine what good climate governance looks like in practice, the authors interviewed 20 directors who hold leadership positions on the boards of S&P 500 companies. Drawing from those interviews and other research, they identify eight hallmarks of meaningful climate oversight. For example, “the board is knowledgeable about the company’s climate profile,” “the board has the expertise needed for effective climate oversight,” and “the board can articulate the company’s climate positioning and strategy.”
The authors also offer their perspective on the set of issues associated with each hallmark that corporate leaders must grapple with as they decide how to incorporate climate issues into their company’s governance.
Climate concerns are here to stay, and climate governance will increasingly be seen as a core element of good governance.
Stakeholder Amnesia in M&A Deals
- November 2024 |
- Article |
- Journal of Corporation Law
In this Article, we argue that corporate boards have the legal and practical ability to consider ESG in their dealmaking. We examine three of the most significant barriers that might prevent a corporate board from incorporating ESG objectives into transactions—fiduciary duties, negotiation leverage, and contractual feasibility—and demonstrate that, outside of the Revlon context, none of these barriers offers a compelling justification for ESG amnesia. Rather, boards that consider ESG objectives in their dealmaking can be acting consistently with their fiduciary duties. Moreover, boards often have the negotiation leverage and capability to incorporate ESG protections into their contractual agreements. We conclude that ESG considerations can pervade all aspects of managerial decision-making, including decisions about the sale of the company. In doing so, we also provide specific recommendations for corporate actors in M&A deals.
The Case for Climate Alliances
- Fall 2024 |
- Article |
- Stanford Social Innovation Review
A Better Way to Measure Social Impact
- September 26, 2024 |
- Article |
- Harvard Business Review Digital Articles
Open Door Legal: Universal Legal Access
- September 2024 |
- Case |
- Faculty Research
It’s Time to Unbundle ESG
- September 20, 2024 |
- Article |
- Harvard Business Review (website)
Ming Min Hui at Boston Ballet
- September 2024 |
- Case |
- Faculty Research
CSR Under the Pressure of Financial Shocks
- 2024 |
- Working Paper |
- Faculty Research
Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic
- August 2024 |
- Case |
- Faculty Research
Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy
- July 2024 |
- Case |
- Faculty Research