1. DISCOVERING AND CREATING SOCIAL ENTREPRENEURIAL OPPORTUNITIES by Dr Umar Haiyat Abdul Kohar

2. Session Objectives   At the end of the session, the students should be able to:   l  identify, evaluate and select a viable social business idea and opportunity l  undertake a preliminary study before preparing a social enterprise business plan  

3. What is a Business Opportunity?

4. BUSINESS IDEA AND OPPORTUNITY   A business idea starts with an opportunity. A business opportunity exists when there is demand for goods and services to meet the needs and wants of community

5. Definition of Social Entrepreneurial Opportunity
A feasible situation that exploits market inefficiencies, and provides an innovative product or service that creates social values in less-than-saturated market.
Clarkin, Deardufff and Gallagher (2012)
A market opportunity that, when exploited, will allow the entrepreneurs to create enhance social value.
Monllor (2010)

6. 7 Types of Innovative Opportunities in Social Entrepreneurship
Creating a new or improved product, service and program
Introducing a new or improved strategy or methods of operating
Reaching new market, serving an unmet need
Tapping into a new source of supply or labor
Establishing a new industrial or organizational structure
Framing new terms of engagement
Developing new funding structures

7. How are Social Entrepreneurial Opportunities Different ?
Focus
More on creating social values rather than making profit
Context
Deeping embedded in the local context
The nature, depth, and extent of an individual’s ties to the environment
Stakeholders
Involves a wider array of stakeholders than that of a commercial entrepreneurial opportunity

8. The Opportunity Recognition Process
Phase 1 : Idea Generation
Pattern Recognition
Social Needs
Social Assets
Phase 2: Opportunity Assessment
Pervasiveness
Relevance
Urgency
Accessibility
Radicalness
Phase 3: Selection and Implementation

9. Idea Generation: Social Needs
The gaps between socially desirable conditions and the existing reality
Changes in social needs can open up new possibilities and inspire the development of promising new ideas

10. Idea Generation: Social Assets
A good understanding of the scope and level of tangible and intangible assets in a community
The key to develop promising ideas that aim at addressing social needs

11. Idea Generation: Pattern Recognition
The cognitive process through which individuals identify meaningful patterns in complex arrays of events and trends.
The factors that contribute to pattern recognition:
Active information search
Alertness
Prior experience
Social Networks

12. Pattern Recognition: Prior Experience – Story of Anne Mahlum

13. Sources of Opportunities
Technological Change
Public Policy Changes
Changes in Public Opinion
Changes in Tastes
Social and Demographic Changes

14. Changes in Public Opinion
Witness, a New York City-based social venture dedicated to filming human right abuses around the world.

15. Phase 2: Opportunity Assessment
In this phase, entrepreneur evaluates benefits and costs of exploiting the opportunity and decides whether or not to pursue it.
Screen recognised opportunities to judge their attractiveness for exploitation.

16. Three Key Dimensions of Opportunity Assessment
Social Value Potential – Does it have strategic alignment, achievable outcomes, partnership and/ or alliance, and organizational benefits?
Market Potential – Does it tap user need and desire, generate funder interest, and have the ability to capture market share?
Sustainability Potential – Can the idea be developed and implemented to have more benefits than costs, as well as adequate income potential, organization capacity, and funder interest?

17. 5 Criteria for Assessing Opportunities in SE
Pervasiveness – the social need that the opportunity aims to address is widely prevalent and important
Relevance- the match between the opportunity’s salience to entrepreneurs and his/her surrounding and resources
Urgency- An unpredictable event generates a sense of urgency
Accessibility – the level of perceived difficulty in addressing a social need
Radicalness- a major innovation and social innovation is necessary to address particular problem.