1. 1 Professor Alex Nicholls MBA Professor of Social Entrepreneurship Fellow in Management Harris Manchester College, Oxford Alex.Nicholls@sbs.ox.ac.uk Social Entrepreneurship and Innovation

2. ‘Wicked Problems’ 2 Global Financial Crisis (GFC) Industrialization and climate change Global security Health pandemics Population growth Water and food shortages Massive inequality and persistent poverty Community regeneration Youth unemployment

3. 3 Social Entrepreneurship ‘Wicked problems need clumsy solutions’ Social entrepreneurship blurs sector boundaries and reconfigures relationships Public-private partnerships Social enterprise Shadow state Often disrupts ineffective or unjust systems Requires entrepreneurship and intrapreneurship Institutional entrepreneurs are champions are critical Government can generate, sponsor, or catalyse social innovation

4. 4 Reinventing Government Increased privatisation of government and public services Search for better quality/efficiency/legitimacy Reduction in taxation Formats: Outsourcing contracts Voucher schemes PFIs/PPPs Institutional voids Market failure in provision of social goods

5. 5 Social Sector Effectiveness Move towards more ‘efficient’ business models in social sector For-profit subsidiary ventures Cross sector partnerships/hybrids Drive towards ‘sustainability’ Better responsiveness

6. 6 ‘Sustainable’ Business Enhanced CSR Triple Bottom Line strategies Pressure to act as corporate ‘citizen’ Role in solving social problems Role in social institution building BoP opportunities

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8. Three Societal Fields CommunityBusinessGovernment Institutional Logic Public BenefitProfit MaximizationCollective Democracy OwnershipMutualPrivateCollective Key Beneficiaries ClientsOwnersGeneral Public Strategic FocusSocial Value Creation Financial Value Creation Public Service AccountabilityStakeholder VoicePublished Accounts, Stock Performance Ballot Box Resource Strategy Donations, Grants, Earned Income, Volunteers, Tax Breaks Debt, Equity, Earned Income Taxes Dominant Organizational Structure Charity, Co-operative Private CompanyDepartmentalized Bureaucracy 8

9. 9 Sectoral Hybridity Offers solutions to (social) policy failures and voids Generates innovation in charitable models that fail to deliver mission outcomes effectively Reconfigures commercial markets to capture economic value as a by-product of creating social value Social enterprises as ‘businesses with a social purpose’ (DTI, 2002) New market opportunities at the ‘Bottom of the Pyramid’ (Prahalad, 2005; Karamchandani et al, 2009)

10. 10 Community Private SectorPublic Sector Private-Public Formal-Informal Profit-Non Profit Social Enterprises Public-Private Partnerships Shadow State Multi-Sector Collaborations Boundary Blurring

11. 11 Social Finance

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13. 13 G8 Meeting: June 2013 Launch of London Social Stock Exchange Launch of a new (international) Social Investment Taskforce Launch of a Global Learning Exchange with WEF and IIPC OECD initiative

14. G8 June 2013 14