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University of Colorado at Boulder Leeds School of Business Social Entrepreneurship in Emerging Markets MBAX 6845 Tues.

. 3:30 to 6:15 p.m. Koelbel Bldg., Room S110 Spring 2013 Instructors: Francy Milner & George Deriso

This course is designed as a seminar for graduate students interested in business approaches to solving global social and environmental problems that have not been effectively addressed by government, business or traditional NGOs and non-profit organizationsproblems such as poverty, disease, environmental degradation, illiteracy, and lack of clean water, sanitation, electricity, healthcare and access to credit, to list a few. We will study and work directly with social entrepreneurs focused on developing countries who are tackling these problems because they want to make the world a better place. These are change-makers who have limited resources, but who are leveraging their powerful new ideas, their determination and their know-how. Successful social entrepreneurs must have more than a good idea; they must know how to address social and environmental problems while operating sustainably, according to a model that can be replicated for significant regional, national and even global impact. Each team will act as a strategic partner to its social entrepreneur, addressing the need that he/she has expressed through research, ongoing consultation and a final Project Report that includes the teams recommendations. Keywords: entrepreneur, social entrepreneur, intrapreneur, social enterprise/social venture, operational sustainability, financial sustainability, scale, replicability, patient capital, social impact investor, venture philanthropy, social innovation, social business.

Course Objectives
Build appreciation of the nature of poverty and associated social and environmental problems, the needs of poor and less-developed communities and the obstacles to development in emerging markets Enhance capacity to analyze the challenges, opportunities, financial sustainability and social impact of social entrepreneurs and social enterprises that are addressing global problems Develop business strategies and operational plans that are tailored to the unique characteristics of emerging markets and that will help social entrepreneurs increase their impact and sustainability. Advance the field of social entrepreneurship through research and writing on topics of concern to social entrepreneurs, funders and policy makers Build empathy, teamwork, consulting skills and leadership skills Gain hands-on experience, laying the ground work for students own potential career paths in social ventures or other businesses operating in emerging markets

OPTIONAL: Bornstein, David, How to Change the World: Social Entrepreneurs and the Power of New Ideas, 2007, Oxford University Press, ISBN 978-0-19533476-0 OPTIONAL: Elkington, John and Hartigan, Pamela, The Power of Unreasonable People: How Social Entrepreneurs Create Markets that Change the World, 2008, Harvard Business Press, ISBN 978-1-4221-0406-4 OPTIONAL: London, Ted and Hart, Stuart L., Next Generation Business Strategies for the Base of the Pyramid: New Approaches for Building Mutual Value, 2010, FT Press, ISBN 978-0-13-704789-5 Other sources of assigned reading Custom Case Packet - TBD Course Organization document with links to articles and other readings Other materials posted on Desire2Learn (learning management system)

Please note that all assigned reading and all course information, as well as regular announcements, will be posted on class Web site on Desire2Learn. 2


In addition to regular reading assignments and class attendance/participation, students will complete a semester-long team project (details below), lead (as a team) discussion of an assigned case, and present an end-of-semester project presentation and critique. The course grade will be based on a total of 1000 points, as follows: Team Grades Team consulting project, deliverables and final presentation: 500 points Team assessment of project partners business: 100 points Team-led case discussion: 100 points Individual Grades Participation/contribution to class: 200 points Peer evaluations (two in semester): 100 points For all deliverables, please submit a digital copy to the Desire2Learn Dropbox on the corresponding due dates prior to class.

Team Projects (500 points)

Each team of 3 to 4 students will select and partner with a social entrepreneur in (or focused on) a developing country to meet his or her expressed need. The team will produce a Project Report and Recommendations that will vary according to the project, for example, a financial plan, a marketing or funding strategy, a strategy to develop partnerships and/or achieve scale and sustainability. (The contents of each Project Report will be tailored to the individual project and the Instructor will provide guidance on drafting of reports.) Presentation of your project to the class during the last week of the semester will constitute your final exam.

Team Assessment of Project Partners Business (100 points)

Each team will develop an assessment of the project partners overall business and evaluate the project partners likelihood of short- and long-term success. More details on how to structure the assessment and its contents will be given in class.

Team-Led Case Discussions (100 points)

Each team will post on Desire2Learn thought-provoking questions on an assigned case at least 3 days in advance of the class. The team will then lead class discussion (45 minutes 3

to an hour) on the case and any additional assigned reading, using a brief PowerPoint presentation with an overview of the case (relevant facts and central problem), the case questions/major issues for discussion and the teams recommendations.

Participation/Contribution to Class (200 points)

Your role: This class is designed as a process of collaborative learning and exploration, based on student participation and leadership. It should be a vehicle for generation and development of new ideas. You will be graded on your contributions to this learning and exploration process. Contributions include but are not limited to your preparedness when called on, listening to each other without interruption, asking meaningful questions, participating in class discussions and exercises, and acting as a fully engaged team member on your project.

Attendance and preparation: An important part of contributing to any endeavor is showing up prepared. Please come to class on time and ready to discuss any assigned readings. (The Instructor or team leading a case discussion may cold call on students.) Missing more than one class may significantly influence this portion of your grade. Please send instructors an email, in advance, if you must miss a class.

University of Colorado policies and rules of conduct

Classroom Behavior

Students and faculty each have responsibility for maintaining an appropriate learning environment. Those who fail to adhere to such behavioral standards may be subject to discipline. Professional courtesy and sensitivity are especially important with respect to individuals and topics dealing with differences of race, color, culture, religion, creed, politics, veteran's status, sexual orientation, gender, gender identity and gender expression, age, disability, and nationalities. Class rosters are provided to the instructor with the student's legal name. I will gladly honor your request to address you by an alternate name or gender pronoun. Please advise me of this preference early in the semester so that I may make appropriate changes to my records. See policies at and at
Honor Code and Plagiarism

All students of the University of Colorado at Boulder are responsible for knowing and adhering to the academic integrity policy of this institution.

Violations of this policy may include: cheating, plagiarism, aid of academic dishonesty, fabrication, lying, bribery, and threatening behavior. All incidents of academic misconduct shall be reported to the Honor Code Council (; 303-7352273). Students who are found to be in violation of the academic integrity policy will be subject to both academic sanctions from the faculty member and non-academic sanctions (including but not limited to university probation, suspension, or expulsion). Other information on the Honor Code can be found at and at
Religious Observances

Campus policy regarding religious observances requires that faculty make every effort to deal reasonably and fairly with all students who, because of religious obligations, have conflicts with scheduled exams, assignments or required attendance. In this class, {{insert your procedures here}} See full details at
Discrimination and Harassment

The University of Colorado at Boulder Discrimination and Harassment Policy and Procedures, the University of Colorado Sexual Harassment Policy and Procedures, and the University of Colorado Conflict of Interest in Cases of Amorous Relationships policy apply to all students, staff, and faculty. Any student, staff, or faculty member who believes s/he has been the subject of sexual harassment or discrimination or harassment based upon race, color, national origin, sex, age, disability, creed, religion, sexual orientation, or veteran status should contact the Office of Discrimination and Harassment (ODH) at 303-492-2127 or the Office of Student Conduct (OSC) at 303-492-5550. Information about the ODH, the above referenced policies, and the campus resources available to assist individuals regarding discrimination or harassment can be obtained at
Disability Services

If you qualify for accommodations because of a disability, please submit to me a letter from Disability Services in a timely manner so that your needs can be addressed. Disability Services determines accommodations based on documented disabilities. Contact: 303-492-8671, Center for Community N200, and If you have a temporary medical condition or injury, see guidelines at

Disability Services' letters for students with disabilities indicate legally mandated reasonable accommodations. The syllabus statements and answers to Frequently Asked Questions can be found at
Campus Resources to assist students with writing: The Writing Center Student Academic Services Foreign and International Students

Contact information for Instructors: Francy Milner

Office: KOBL Room 345G Telephone: 303-887-2243 Office Hrs: TBD Email:

Office: KOBL Room 215E Telephone: 303-929-9936 Office Hrs: TBD Email:

George Deriso

MBAX 6845 Social Entrepreneurship in Emerging Markets COURSE ORGANIZATION Spring 2013
Note: This course outline is subject to change, with advance notice, according to the progress of the class, availability of speakers, etc.


Date Topic / Activity Module1: Context for social entrepreneurs doing business in emerging markets
Jan 15 Topic: Base of the Pyramid (BoP)the debate on how to end poverty Activity: Introductions, partner pitches, tools for consulting and project management Speaker: Kara Penn, founder, MissionSpark Laying the Groundwork for FailGood

Assignments Due

Review list of potential team projects - Desire2Learn

Jan 22

Topic: Controversy over business role and the fortune at the bottom of the pyramid NOTE: Each team will meet with the Instructor the week of January 29, outside class, to discuss its scope of work and project charter Speaker: Sousan Urroz-Korori, Ph.D., Leeds School of Business Topic: Understanding BoP markets and cultures Speaker: Revi Sterling, Ph.D., ATLAS

Articles (best to read these in order): Stephen C. Smith, Poverty traps and global development Jeffrey Sachs: The End of Poverty Dambisa Moyo Is Aid Killing Africa? (9 minute video) William Easterly on The Vision of Jeffrey Sachs The Vision of Jeffrey Sachs (5 minute video) Esther Duflo, Poor Economics (20 min. video) Articles: Prahalad and Hart, The Fortune at the Bottom of the Pyramid Karnani, Fortune at the Bottom of the Pyramid: A Mirage (click on One-click download) Prahalad, Response to Karnani (posted on D2L)

Jan 29

Case: Unilever in India: Hindustan Levers Project Shakti Marketing FMCG to the Rural Customer (custom reading packet) Articles: The Next 4 Billion: Market Size and business strategy at the base of the pyramid, Executive Summary and Ch. 1: Introduction and Market Overview The Next Billions: Unleashing Business Potential in Untapped Markets, Sec. 3.3 Bridging the Gap in Public Goods through Private Enterprise pp. 18-19 (dealing with lack of infrastructure) Hofstedes Cultural Dimensions

Due: - Completed Project Charter approved by team members and project partner


Date Topic / Activity Module 2: Opportunities and challenges for social entrepreneurs
Feb 5 Topic: Introduction to social entrepreneurs How are they unique? What is their promise? Speaker: Teju Ravilochan, Unreasonable Institute Topic: Identifying a need and crafting a solution to address root causes Activity: Presentations to consulting panel status reports on team projects Panelists: Caryn Capriccioso, Tiffany Urrechaga, George Deriso

Assignments Due

Feb 12

Articles: Martin and Osberg, Social Entrepreneurship: The Case for Definition Drayton, Everyone a Changemaker Yunus and Social Business Case: Jatropha Articles: Scott Anthony, The 5 Cs of Opportunity Identification Chamil de Silva, How Entrepreneurs Identify New Business Opportunities Mother Thumper, 3 Ways to Identify an Entrepreneurial Opportunity See: Questions for consulting teams to ask of project partners (posted on D2L) Case: CDI (A): Growth Challenges of a Social Entrepreneur (custom reading packet) (Team 1) Article: Emerging Markets Emerging Models pp. 35-110 and page 123 Come prepared to discuss which models, if any, relate to your team project Due: Midpoint Peer Evaluation Case: Sustaining a Social Venture: Transformation of Annapurna Mahila Mandal into Annapurna Pariwar (custom reading packet) (Team 2) Article: Growth and Vulnerabilities in Microfinance

Feb 19

Topic: How can Social Entrepreneurs meet the needs of BOP customers with the right product design and business model? . Speaker: Kara Penn, FailGood Phase 2

Feb 26

Topic: How can Social Entrepreneurs achieve a double bottom line: financial sustainability and social performance? Microfinance as a case study Speaker: Karen Larson, Executive Director, Friendship Bridge In-class video: Yunus/Akula debate on microfinance


Mar 5

Topic / Activity
Topic: Beginning with the end in mind: Performance goals, metrics and social impact of a social enterprise Last 10 minutes: midterm feedback survey NOTE: Each team will meet with the Instructor the week of March 12, outside class, to discuss its project outline, progress on milestones and proposed grading criteria Topic: Initial challenges of a social enterprise: dealing with the regulatory environment and choice of formal structure Speakers: Ian Bird,JD on FCPA; TBD: Panel on choice of legal structure

Assignments Due
Case: Vision Spring: A Lens for Growth at the Base of the Pyramid (custom reading packet) (Team 3) Article: Making Better Investments at the Base of the Pyramid (custom reading packet)

Mar 12

Chart: Legal Form Considerations, Campbell Law Group (posted on D2L) Articles: "Taking Aim at the Foreign Corrupt Practices Act", NY Times, April 30, 2012 "In Search of thy Hybrid Ideal" Stanford Social Innovation Review, Summer 2012 "For Love or Lucre", Stanford Social Innovation Review, Spring 2011 Case: Acumen Fund Measurement in Impact Investing (custom reading packet) (Team 4) Articles: Simple Measures for Social Enterprise The Trouble with Impact Investing, Stanford Social Innovation Review, Part 1, Part 2 and Part 3 Due: detailed outline of project report and proposed grading criteria Case: ApproTEC Kenya: Technologies to Fight Poverty and Create Wealth (custom reading packet) (Team 5) Article: Bradach, Going to Scale: The Challenge of Replicating Social Programs


Mar 19

Topic: The single greatest challenge: finding funds to launch or grow - with a focus on the impact investment industry


Apr 2

Topic: Ongoing challenges: Expansion and growth In-class video: The New Heroes (PBS): Nick Moon and Martin Fisher


Date Topic / Activity Module 3: Social Entrepreneurs: Leading collaboratively

Apr 9 Topic: Crafting strategic alliances and learning from failure Speaker: Kara Penn, FailGood Phase 3

Assignments Due
Case: Grameen Danone Foods Ltd., A Social Business (custom reading packet) (Team 6) Articles: Failure or Success Waiting to Happen? The Case of Grameen Danone Finding the Path Forward: The Case of Grameen Danone Articles: Albion, "Monk, Architect, Diplomat", Stanford Social Innovation Review , Fall 2010 "Blinded by Expertise" Stanford Social Innovation Review, October 11, 2012 The leadership team: "Freeing the Social Entrepreneur", Stanford Social Innovation Review, Fall 2012 Due: All teams: Final project reports to Instructor and project partner Due: Partner Evaluation and Final Peer Evaluation


Apr 16

Topic: Leadership of a Social Enterprise Whats different from leading a traditional business? Social Entrepreneurs Speaker Panel: To be confirmed: Stacey Edgar, Global Girlfriend; Saul Garlick, ThinkImpact; Eric Glustrom, Educate!; Doug Vilsack, Elephant Energy


Apr 23

Final team project PowerPoint presentations