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Task A: Societal challenges and why innovation and entrepreneurship matter…
Task A: Societal challenges and why innovation and entrepreneurship matter
Societal challenges
Unresolved problems
Reduce welfare
Society
Populations
Groups
Cause
Public Policy
Education
Health
Culture
Immigration
Inequality
Solution
Sustainable development goals
Common framework
Improvement aims
Global input
Governance
impact of SME's
Positive
income
satisfy customer needs
job creation
Promote competitiveness
Local knowledge & expertise
Negative
Alienation/isolation
Inequality
Fair working conditions
Pollution
Triple bottom line
Societal
Economic
Environmental
= long term sustainablity
Pyramid
Bottom of the pryamid
Impact
Positive societal impact
Local community
Jobs
Products and services
Investor
Entrepreneur
Sustain business
Pay suppliers on time
Opportunity to grow
Access to funding
Solutions
External investment
Achieve positive societal aims
Tap into market
Digital innovation
Developed In-house
Competitive advantage
Financial inclusion model
Reduce risk to investor
Low intest
Challenges
Access to funding
access to
Health and social care
Basic facilities
Information
Technology
Live on < $2.5 daily
Typical in developing countries
Innovation
Starting idea
Brand new
Incremental
Opportunity
Product/service
Problem
Creating competitive advantage
Unique Knowledge/ skills
Unique idea
Unique technology
Unique relationships
Stakeholders
Staff
Passion/culture
Mission
Values
Signs and symbols
Challenges
Scale up
Financing
Adapting model
from original aims
Governanace
Sustainability V profitability
Entrepreneur
Life cycle
Start up
Management
Profitability
Managing resources
Governance
Adapting/evolving business model
Stakeholder engagement
Decision making
Trade-offs
Ethics
New idea
Scaling up