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Social Enterprise

Social Enterprise

    • April 2013
    • Article

    Who Is Governing Whom? Executives, Governance, and the Structure of Generosity in Large U.S. Firms

    By: Christopher Marquis and Matthew Lee

    We examine how organizational structure influences strategies over which corporate leaders have significant discretion. Corporate philanthropy is our setting to study how a differentiated structural element—the corporate foundation—constrains the influence of individual senior managers and directors on corporate strategy. Our analysis of Fortune 500 firms from 1996 to 2006 shows that leader characteristics at both the senior management and director levels affect corporate philanthropic contributions. We also find that organizational structure constrains the philanthropic influence of board members but not of senior managers, a result that is contrary to what existing theory would predict. We discuss how these findings advance understanding of how organizational structure and corporate leadership interact and of how organizations can more effectively realize the strategic value of corporate social responsibility activities.

    • April 2013
    • Article

    Who Is Governing Whom? Executives, Governance, and the Structure of Generosity in Large U.S. Firms

    By: Christopher Marquis and Matthew Lee

    We examine how organizational structure influences strategies over which corporate leaders have significant discretion. Corporate philanthropy is our setting to study how a differentiated structural element—the corporate foundation—constrains the influence of individual senior managers and directors on corporate strategy. Our analysis of Fortune...

    • Article

    Corporate Social Responsibility and Access to Finance

    By: Beiting Cheng, Ioannis Ioannou and George Serafeim

    In this paper, we investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance. We hypothesize that better access to finance can be attributed to a) reduced agency costs due to enhanced stakeholder engagement and b) reduced informational asymmetry due to increased transparency. Using a large cross-section of firms, we find that firms with better CSR performance face significantly lower capital constraints. Moreover, we provide evidence that both of the hypothesized mechanisms, better stakeholder engagement and transparency around CSR performance, are important in reducing capital constraints. The results are further confirmed using an instrumental variables and a simultaneous equations approach. Finally, we show that the relation is driven by both the social and the environmental dimension of CSR.

    • Article

    Corporate Social Responsibility and Access to Finance

    By: Beiting Cheng, Ioannis Ioannou and George Serafeim

    In this paper, we investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance. We hypothesize that better access to finance can be attributed to a) reduced agency costs due to enhanced stakeholder engagement and b) reduced informational asymmetry due to increased transparency....

    • Spring 2014
    • Article

    What Impact? A Framework for Measuring the Scale & Scope of Social Performance

    By: Alnoor Ebrahim and V. Kasturi Rangan

    Organizations with social missions, such as nonprofits and social enterprises, are under growing pressure to demonstrate their impacts on pressing societal problems such as global poverty. This article draws on several cases to build a performance assessment framework premised on an organization's operational mission, scale, and scope. Not all organizations should measure their long-term impact, defined as lasting changes in the lives of people and their societies. Rather, some organizations would be better off measuring shorter-term outputs or individual outcomes. Funders such as foundations and impact investors are better positioned to measure systemic impacts.

    • Spring 2014
    • Article

    What Impact? A Framework for Measuring the Scale & Scope of Social Performance

    By: Alnoor Ebrahim and V. Kasturi Rangan

    Organizations with social missions, such as nonprofits and social enterprises, are under growing pressure to demonstrate their impacts on pressing societal problems such as global poverty. This article draws on several cases to build a performance assessment framework premised on an organization's operational mission, scale, and scope. Not all...

    • July–August 2014
    • Article

    Sustainability in the Boardroom: Lessons from Nike's Playbook

    By: Lynn S. Paine

    One surprising role of Nike's corporate responsibility committee is to provide support for innovation. More and more companies recognize the importance of corporate responsibility to their long-term success—and yet the matter gets short shrift in most boardrooms, consistently ranking at the bottom of some two dozen possible priorities. Many years ago labor conditions in Asian contract factories prompted Nike board member Jill Ker Conway to lobby for a board-level corporate responsibility committee, which the company created in 2001. In the years since, the committee has steadily broadened its purview, now advising on a broad range of issues including innovation and acquisitions in addition to labor practices and resource sustainability. A close examination of Nike's experience has led the author to conclude that a dedicated board-level committee of this sort could be a valuable addition to many if not most companies in at least five ways: as a source of knowledge and expertise, as a sounding board and constructive critic, as a driver of accountability, as a stimulus for innovation, and as a resource for the full board. In an accompanying interview with Paine, Conway discusses the committee's creation and provides an insider's perspective on what has made it so effective.

    • July–August 2014
    • Article

    Sustainability in the Boardroom: Lessons from Nike's Playbook

    By: Lynn S. Paine

    One surprising role of Nike's corporate responsibility committee is to provide support for innovation. More and more companies recognize the importance of corporate responsibility to their long-term success—and yet the matter gets short shrift in most boardrooms, consistently ranking at the bottom of some two dozen possible priorities. Many years...

    • 2014
    • Article

    Corporate Social Responsibility Reporting in China: Symbol or Substance?

    By: Christopher Marquis and Cuili Qian

    This study focuses on how and why firms strategically respond to government signals regarding appropriate corporate activity. We integrate institutional theory and research on corporate political strategy to develop a political dependence model that explains (a) how different types of dependency on the government lead firms to issue corporate social responsibility (CSR) reports and (b) how the risk of governmental monitoring affects the extent to which CSR reports are symbolic or substantive. First, we examine how firm characteristics reflecting dependence on the government—including private versus state ownership, executives serving on political councils, political legacy, and financial resources—affect the likelihood of firms issuing CSR reports. Second, we focus on the symbolic nature of CSR reporting and how variance in the risk of government monitoring through channels such as bureaucratic embeddedness and local government institutional development influences the extent to which CSR communications are symbolically decoupled from substantive CSR activities. Our database includes all CSR reports issued by the approximately 1,600 publicly listed Chinese firms between 2006 and 2009. Our hypotheses are generally supported. The political perspective we develop contributes to organizational theory by showing (a) the importance of government signaling as a mechanism of political influence, (b) how different types of dependency on the government expose firms to different types of legitimacy pressures, and (c) that firms face a decoupling risk that leads them to be more likely to enact substantive actions in situations where they are likely to be monitored.

    • 2014
    • Article

    Corporate Social Responsibility Reporting in China: Symbol or Substance?

    By: Christopher Marquis and Cuili Qian

    This study focuses on how and why firms strategically respond to government signals regarding appropriate corporate activity. We integrate institutional theory and research on corporate political strategy to develop a political dependence model that explains (a) how different types of dependency on the government lead firms to issue corporate...

    • 2014
    • Working Paper

    The Role of the Corporation in Society: An Alternative View and Opportunities for Future Research

    By: George Serafeim

    A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for managers to consider the interests of a broader set of stakeholders rather than only shareholders. Having documented that this alternative view better fits actual corporate conduct, I discuss opportunities for future research. Specifically, I call for research on the materiality of environmental and social issues for the future financial performance of corporations, the design of incentive and control systems to guide strategy execution, corporate reporting, and the role of investors in this new paradigm.

    • 2014
    • Working Paper

    The Role of the Corporation in Society: An Alternative View and Opportunities for Future Research

    By: George Serafeim

    A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for managers to consider the interests of a broader set of...

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 Enterprise
Business & Environment
Health Care

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 Enterprise
Business & Environment
Health Care

Recent Publications

Dasra: From Strategic Philanthropy to Field Building

By: V. Kasturi Rangan and Tanya Bijlani
  • March 2021 |
  • Case |
  • Faculty Research
Dasra, a pioneer in the Indian Strategic Philanthropy space founded by a husband and wife team, had grown and evolved with the fast changing philanthropy scene in India. By 2017 it had managed to raise nearly $100 million of new capital for NGOs and Nonprofits in India. At the same time, the rapid growth demanded internal changes that stretched the organization and raised questions regarding structures, systems and capabilities.
Keywords: Philanthropy; Impact Investing; Corporate Social Responsibility; Social Sector; Philanthropy And Charitable Giving; Corporate Social Responsibility And Impact; Social Entrepreneurship; Strategy; India
Citation
Educators
Related
Rangan, V. Kasturi, and Tanya Bijlani. "Dasra: From Strategic Philanthropy to Field Building." Harvard Business School Case 521-071, March 2021.

Yellow Digital Retailers, Ltd.: Providing Solar Electricity to Transform Rural Africa

By: Lynda M. Applegate, Frank V. Cespedes and Michael Norris
  • February 2021 |
  • Case |
  • Faculty Research
In 2020, Mike Heyink and Maya Stewart, co-founders of the Pay-as-you-Go Solar company Yellow were considering how to grow their startup. They had achieved some success in their first market, Malawi, and had recently entered Uganda, where business was slower. What did they need to do to succeed in new markets? How could they continue to grow the business in Malawi?
Keywords: Business Model; Business Startups; Developing Countries And Economies; Alternative Energy; Renewable Energy; Social Entrepreneurship; Green Technology; Salesforce Management; Diversification; Expansion; Energy Industry; Africa; South Africa; Malawi; Uganda
Citation
Educators
Related
Applegate, Lynda M., Frank V. Cespedes, and Michael Norris. "Yellow Digital Retailers, Ltd.: Providing Solar Electricity to Transform Rural Africa." Harvard Business School Case 821-041, February 2021.

How Transparency into Internal and External Responsibility Initiatives Influences Consumer Choice

By: Ryan W. Buell and Basak Kalkanci
  • February 2021 |
  • Article |
  • Management Science
Amid growing calls for transparency and social and environmental responsibility, companies are employing different strategies to improve consumer perceptions of their brands. Some pursue internal initiatives that reduce their negative social or environmental impacts through responsible operations practices (such as paying a living wage to workers or engaging in environmentally sustainable manufacturing). Others pursue external responsibility initiatives (such as philanthropy or cause-related marketing). Through two experiments conducted in the field and complementary online experiments, we compare how transparency into these internal and external initiatives affects customer perceptions and sales. We find that transparency into both internal and external responsibility initiatives tend to dominate generic brand marketing in motivating consumer purchases, supporting the view that consumers take companies’ responsibility efforts into account in their decision making. Furthermore, the results provide converging evidence that transparency into a company’s internal responsibility practices can be at least as motivating of consumer sales as transparency into its external responsibility initiatives, incrementally increasing a consumer’s probability of purchase by 6.40% and 45.85% across our two field experiments, conducted in social and environmental domains, respectively. Our results suggest that it may be in the interest of both business and society for managers to prioritize internal responsible operations initiatives, to achieve both top and bottom-line benefits, while mitigating social and environmental harms.
Keywords: Sustainable Operations; Corporate Social Responsibility; Operational Transparency; Corporate Social Responsibility And Impact; Operations; Environmental Sustainability; Consumer Behavior; Perception
Citation
Find at Harvard
Related
Buell, Ryan W., and Basak Kalkanci. "How Transparency into Internal and External Responsibility Initiatives Influences Consumer Choice." Management Science 67, no. 2 (February 2021): 932–950.

iOpenEye: Theater and #MeToo in Nigeria

By: Caroline M. Elkins, Tarun Khanna and Joyce J. Kim
  • January 2021 |
  • Case |
  • Faculty Research
In 2014, Ifeoma Fafunwa, an award-winning playwright and director, founded iOpenEye, a commercial production company dedicated to driving social change through performance art. iOpenEye’s flagship theatrical production was called “Hear Word! Naija Woman Talk True,” which shared narratives of Nigerian women's struggles. By 2019, “Hear Word!” had debuted internationally, playing sold-out shows at distinguished venues like the American Repertory Theater and at the renowned Edinburgh International Festival. By spring 2020, COVID hit and venues closed, offering Fafunwa new possibilities, such as streaming content and reconsideration of production scale. What steps would it take to have iOpenEye and "Hear Word!" be successful five years down the line? Fafunwa contemplated her next move knowing that whatever it was, it had to be an iOpenEye 2.0 business model.
Keywords: Theatre; Social Change; Entrepreneurship; Social Enterprise; Entertainment; Social Issues; Health Pandemics; Organizational Change And Adaptation; Business Model; Nigeria
Citation
Educators
Related
Elkins, Caroline M., Tarun Khanna, and Joyce J. Kim. "iOpenEye: Theater and #MeToo in Nigeria." Harvard Business School Case 321-111, January 2021.

Nonprofts in Good Times and Bad Times

By: Christine L. Exley, Nils H. Lehr and Stephen J. Terry
  • 2020 |
  • Working Paper |
  • Faculty Research
Need fluctuates over the business cycle, yet little is known about nonprofit behavior over the cycle. This paper exploits data from millions of tax returns and provides key descriptive facts about nonprofits in the face of economic fluctuations. Nonprofit revenue, balance sheets, and spending contract during bad times and grow in good times. Nevertheless, nonprofits partially smooth expenditure relative to income. Nonprofits sharply differ from for-profit firms, which exhibit stronger procyclicality and little smoothing. These facts add to the charitable giving literature, documenting outcomes for charities rather than contributors, and the business cycle literature, highlighting distinct nonprofit versus for-profit cyclicality.
Keywords: Nonprofit Organizations; Business Cycles; Philanthropy And Charitable Giving
Citation
Read Now
Related
Exley, Christine L., Nils H. Lehr, and Stephen J. Terry. "Nonprofts in Good Times and Bad Times." Harvard Business School Working Paper, No. 21-076, December 2020.

Arcos Dorados: A QSR Recovery Plan

By: Forest Reinhardt, Jose B. Alvarez, Jenyfeer Martinez Buitrago and Mariana Cal
  • December 2020 (Revised January 2021) |
  • Case |
  • Faculty Research
Arcos Dorados—McDonald’s largest independent franchisee, covering Latin America and the Caribbean (LAC)—faced a pandemic that was disrupting the entire consumer foodservice business in 2020. With the exclusive right to own, operate, and sub-franchise McDonald’s restaurants in LAC since 2007, the company served over 40 million customers a day at its almost 2,300 restaurants sprawled in 20 markets across LAC, reporting revenues of roughly $3 billion and $291.8 million EBITDA in 2019. Although results for 2020 had looked promising, in late March 2020, governments throughout the region implemented quarantine measures in response to a novel coronavirus disease (COVID-19), affecting the company’s normal operations. Forced to withdraw a previously approved 2020-2025 plan for restaurant openings and reinvestments, the company had to focus on a strategy to reduce the impact of the pandemic on the company’s finances. Based on its strengths vis-à-vis its competitors, Arcos Dorados’ recovery plan hinged on five pillars: i) McDonald’s restaurants’ reputation for people care and food safety; ii) the company’s capabilities to explore new channels for food purchasing and delivery; iii) McDonald’s good “value-for-money” perception; iv) a consolidated brand with unique offerings; and v) a sustainable-minded company, with initiatives underway to enhance its brand image. Once the crisis was contained, the company had to draft a new six-year plan, including capital outlays for restaurant openings and reinvestments. Given its current position and strengths against its competitors, should Arcos Dorados grasp this opportunity to pursue an aggressive growth plan? Or, considering the post-pandemic economic downturn expected in the region, should the company come up with a more conservative plan or even contemplate downsizing? How should the plan differ by country?
Keywords: Agribusiness; Animal-based Agribusiness; Plant-based Agribusiness; Customer Value And Value Chain; Income; Macroeconomics; Environmental Management; Environmental Sustainability; Cross-cultural And Cross-border Issues; Food; Health Pandemics; Crisis Management; Logistics; Corporate Social Responsibility And Impact; Strategic Planning; Food And Beverage Industry; Agriculture And Agribusiness Industry; Retail Industry; Latin America; Aruba; Guadeloupe; Martinique; Mexico; Panama; Costa Rica; Argentina; Brazil; Chile; Colombia; Ecuador; French Guiana; Peru; Uruguay; Venezuela; Puerto Rico; Trinidad And Tobago
Citation
Educators
Related
Reinhardt, Forest, Jose B. Alvarez, Jenyfeer Martinez Buitrago, and Mariana Cal. "Arcos Dorados: A QSR Recovery Plan." Harvard Business School Case 721-023, December 2020. (Revised January 2021.)

Wes Hall and the BlackNorth Initiative

By: Shikhar Ghosh, Marilyn Morgan Westner and Reza Satchu
  • November 2020 (Revised February 2021) |
  • Case |
  • Faculty Research
Wes Hall founded Kingsdale Advisors and built it into one of Canada’s leading shareholder services and advisory firms. Influenced by the Black Lives Matter (BLM) movement and a series of social injustices—specifically the death of George Floyd in police custody—Hall had an idea to use his privilege, power, and position to make a social impact. He decided to risk his financial security and potentially jeopardize his reputation to launch a new venture, BlackNorth Initiative (BNI), to combat systemic racism.
After an initial burst of positive reactions to the BNI, Hall was left with the questions that confront every entrepreneur: What problem am I addressing? What solution should I pursue? Am I the right person to take on this challenge? Who do I need on my team? Hall wants BlackNorth Initiative to have lasting impact after the momentum of the BLM fades. Just two months after launching BNI, Hall faced a dilemma: a leading Canadian businessman and philanthropist offered to donate $1,000,000 to the BNI if they would establish a cultural center for Black Canadians. As Founder and Chairman of the BlackNorth Initiative, Hall had a decision: should he accept the funds and build the center? Could a cultural center help dismantle anti-Black systemic barriers from the bottom up and help legitimize BNI with community activist groups? Or would the costs of establishing and running a center ultimately dilute his focus and diffuse the power of his initial idea?
Keywords: Racism; Cultural Entrepreneurship; Social Entrepreneurship; Diversity; Race; Social Issues; Canada; North America
Citation
Educators
Purchase
Related
Ghosh, Shikhar, Marilyn Morgan Westner, and Reza Satchu. "Wes Hall and the BlackNorth Initiative." Harvard Business School Case 821-056, November 2020. (Revised February 2021.)

Nonprofit Boards: It Is time to Lift Your Gaze and See the System

By: Shamal Dass, Kristy Muir and V. Kasturi Rangan
  • 2020 |
  • Working Paper |
  • Faculty Research
Nonprofits the world over have faced significant crises in 2020, leaving them and their constituents in precarious positions. Responses to these crises have demonstrated incredible agility. However, they have also demonstrated that the first two levels of governance (level 1: fiduciary responsibility and level 2: organizational performance) are not sufficient in reimagining a new normal. The pandemic and the social justice movements remind us that nonprofit boards need to lift their gaze beyond level 2, and strive for systems impact. We call it level 3 governance. We’ve seen incredible agility by nonprofits throughout these crises; and systems thinking has long been understood to be a sound way to consider and address complex social problems. Thus, the timing is ripe to bring the two together, and nonprofit boards must take the leadership in doing so. Applying systems thinking at the board level has not been normal practice. This paper provides a framework for how boards might do so and, in turn, govern beyond their organization and meet the social purpose for which their organizations exist.
Keywords: Nonprofit Organizations; Governing And Advisory Boards; Health Pandemics; Governance; Corporate Social Responsibility And Impact; System; Framework
Citation
Read Now
Related
Dass, Shamal, Kristy Muir, and V. Kasturi Rangan. "Nonprofit Boards: It Is time to Lift Your Gaze and See the System." Harvard Business School Working Paper, No. 21-058, November 2020.

BRAC in 2020

By: Tarun Khanna and Shreya Ramachandran
  • November 2020 |
  • Case |
  • Faculty Research
In 2020, the largest non-governmental organization in the world, BRAC, headquartered in Dhaka, Bangladesh, has some big problems to tackle. Its founder, Sir Fazle Hasan Abed, has left behind a challenge: take the 1981-founded organization from Bangladesh to every single part of the world and create a global set of programs and program heads. Active in education, health, microfinance and poverty alleviation, BRAC is also entering the humanitarian and relief world through its work with Rohingya refugee camps in Bangladesh. What will be the way forward for this global NGO based in the South?
Keywords: Social Enterprise; Education; Health; Social Issues; Poverty; Programs; Management; Growth And Development Strategy; Global Strategy; Education Industry; Health Industry; Bangladesh; South Asia
Citation
Educators
Related
Khanna, Tarun, and Shreya Ramachandran. "BRAC in 2020." Harvard Business School Case 721-416, November 2020.

Accounting for Product Impact in the Airlines Industry

By: George Serafeim and Katie Trinh
  • 2021 |
  • Working Paper |
  • Faculty Research
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the airlines industry. We design a monetization methodology that allows us to calculate monetary impact estimates of fare affordability, timeliness and gate control, among other factors. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas, including airline route structure choices.
Keywords: Product Innovation; Impact; Impact Investing; Impact Measurement; Esg; Esg (environmental, Social, Governance) Performance; Esg (environmental, Social, Governance) Performance; Esg Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Air Transportation; Aviation; Product Design; Product Positioning; Society; Product; Environmental Sustainability; Measurement And Metrics; Framework; Corporate Social Responsibility And Impact; Air Transportation Industry
Citation
Read Now
Related
Serafeim, George, and Katie Trinh. "Accounting for Product Impact in the Airlines Industry." Harvard Business School Working Paper, No. 21-066, November 2020. (Revised February 2021.)
More Publications

Faculty

James E. Austin
Julie Battilana
Michael Chu
Allen S. Grossman
Rosabeth M. Kanter
Lynn S. Paine
Michael E. Porter
John A. Quelch
V. Kasturi Rangan
Forest L. Reinhardt
George Serafeim
Michael W. Toffel
→See All

HBS Working Knowlege

    • 02 Feb 2021

    Nonprofits in Good Times and Bad Times

    by Christine L. Exley, Nils H. Lehr, and Stephen J. Terry
    • 11 Jan 2021

    Accounting for Product Impact in the Airlines Industry

    by George Serafeim and Katie Trinh
    • 05 Jan 2021

    Using Behavioral Science to Improve Well-Being for Social Workers

→More Articles

Harvard Business Publishing

    • November 2011
    • Article

    How Great Companies Think Differently

    By: Rosabeth Moss Kanter
    • November 2020 (Revised February 2021)
    • Case

    Wes Hall and the BlackNorth Initiative

    By: Shikhar Ghosh, Marilyn Morgan Westner and Reza Satchu
    • 2008
    • Book

    Marketing Metaphoria: What Deep Metaphors Reveal About the Minds of Consumers

    By: Gerald Zaltman and Lindsay Zaltman
→More Harvard Business Publishing
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