Table of Contents
How Business, Government, and Social Enterprises Are Teaming Up to Solve Society’s Toughest Problems
Wavemakers
Wavemakers can be described as organization trading for profit or nonprofit aiming at improving and bettering crucial social agendas through motivating development, especially through funding and incubation. Wavemakers are not only limited to organizations but can also individuals who strive to see the development of a compelling solution to social agendas. An example of a Wavemakers category is investors (Eggers, Macmillan, & Adamson, 2013). Investors are a group of Wavemakers who finance social agenda reforms with an aim to get social returns. Their aim in providing funding for these agendas is to acquire innovative and cutting edge solutions that will be served to the philanthropic to simple incubator organizations. Their main involvement is through financial, coaching, motivation and provision of enabling an environment for people to develop their ideas to fit the social agendas.
One of the organizations I know in this category is Bill and Melinda Gates Foundation. Over time the organization has strived to develop guidelines that aim at streamlining its inputs with social impact. The organization gives billions each year to deserving institutions aiming to foster the social agenda. With its involvement in the society, the organization has strived to solve bigger and small problems bettering social outcomes. Another organization is Ashoka. Unlike Bill and Melinda foundation with its billions, Ashoka is made up of change maker citizens that use their ability as opposed to money to make a change. They utilize their time and expertise to coin social changes based on their ability to solve complex social problems. On third world countries, examples could include Manu Chandaria Foundation in East Africa (Ziska, 2016). The association aims at funding and incubating solutions to social problems and introducing them to society. In doing so, the organization strives to see that the profit of the solutions goes to the individual. Finally, there are organizations like Acumen a New York-based firm that strives to see that cheap social solutions are provided to developing countries like India and Tanzania among others. The organization focuses on malaria prevention, clean environment, drinking water and alleviating social problems like cataracts in these countries.
We can do it today.
Disruptive technologies
Disruptive technologies are the innovations creating new social values in the society. These technologies eventually change the existing social values through a disruptive behavior dislocating existing social agendas and making or making them better. An example of a disruptive technology is the uses of social media. Social media include platforms such as Facebook, Twitter, and WhatsApp among others. Social media remains among the single most changer maker among citizens of any nation. Social media has created the online communities pulling people together to tackle social issues. Besides, social media provides people with an avenue to crowdsource, collaborate and engage with others all over the world and government agency leaders (Eggers et al., 2013). Social media have formed a driving force to the mobilization of people to tackle different social challenges. Social media are disruptive in that it makes the world a global village. This way many people of different background can interact through sharing large information at ago. Besides, various individuals have been able to resource and launch new initiatives in a cheaper way forgoing majority of the channels that used to be expensive. Finally, social media has been in the forefront in the reduction of operation cost providing a free avenue for citizens (Ziska, 2016). For instance, people can share and access information on various social media giving them ideas to prosper.
Lots of updates can be made in the recent innovation in the field of social media. One of the examples that updates can be made is through the creation of chat group. Today, changes start with an idea a do people create social groups with people of similar interests. These social groups in social media have propagated change disrupting the existing behavior (Ziska, 2016). One of the ways that social media has impacted my industry is mainly through communication. The wake of social media has made people adopt open channels of communications positively impacting sharing of information
Corporations and nonprofit
A limited liability company takes a combination of some features of a corporation and a partnership. In a limited liability company, owners of the corporation are not held in the case of debts or liabilities. This is because an LLC is a separate legal existence that is different from its members. The LLC are hybrid organizations formed from the association of partnerships and corporations. Its business structure gives it flexible terms of taxation, unlike other business entities (Eggers et al., 2013). Finally, LLC have simple documentation procedures and operation as there are no strict laws for their filing of items like stakeholder meetings.
One of the main pluses of LLC is the avoidance of double taxation. All LLC receive a pass through where the profits are only taxed on the individual’s owner’s income. This means the profits for organizations are only taxed once. Secondary, the establishment and administration of an LLC are less strict as compared to other business forms. For instance, starting an organization of this caliber only needs filling of offices location and identity of its members, unlike other business forms (Eggers et al., 2013). Finally, there is the flexibility of sharing profits are they are shared as per member’s contribution. The minutes of LLC are on the operating costs. Running costs and banking costs are typically high for this business.
Excelling business Scale
The author of the books feels that emerging business like LLC is greatly scaring. They attribute their success to the innovative nature of this business to their success. The author attributes this success to the economic value that they have strived to create in the society. As well as the creation of the financial gain to the owners, these organizations have moved past their primary role extending to the society (Eggers et al., 2013). The organizations have created a social value, data and citizen capital. The organizations have created public value exchanges earning them a reputation in the society. The setting that most fits these organizations is the market. Most of the organizations draft ideas for s specific market share. For instance, foundations like Bill and Melinda Gates foundations have centered on the markets that provide them with Huge profits (Ziska, 2016). Utilizing various models in entering these markets in a wider geographical location have greatly contributed to expanding these markets.
- Eggers, W., Macmillan, P., & Adamson, R. (2013). The Solution Revolution: How Business, Government, and Social Enterprises Are Teaming Up to Solve Societys Toughest Problems (Unabridged edition). HighBridge Audio.
- Ziska, F. (2016). Collective Creativity for Responsible and Sustainable Business Practice. IGI Global.