Senior Seminar Looks at Social Entrepreneurs
This week the senior seminar class taught by Professor Badrinath Rao gave presentations on the book, “The Power of Unreasonable People”. As a mandatory read for the class, this book talks about people who are generally “unreasonable”, or opposed to norms as it relates to business and the global marketplace. The content of the book focuses on entrepreneurs who have made major social changes around the world, working with developing countries and those in need. The students explained the business models of the non-profit organizations making these changes, and how they were innovative in their approach.
Some of the interesting companies discussed during the presentations are these:
Aurolab – A company that creates interocular lenses, that heal cataract blindness. The company sells these lenses to the developing world for $2-4, while selling the same product to the western world for upwards of $150. The company embraces volume markets and a flexible pricing structure to appeal to different markets, reffered to as “compassionate capitialism”.
First Book – This company notes that some impoverished areas of the United States have one book per 300 children. This non-profit that has found ways to provide cheaper books by purchasing upfront amounts of vendors inventory, reprints, and receiving donations.
Recycla Chile – A company that recycles e-waste, dismantling electronics and reprocessing or recycling it. This business model uses former prison inmates to assist, and also collaborate with other non-profit and social business.
The senior seminar class will continue to learn about other types of entrepreneurship as they progress in their class, as well as innovative leadership.
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