Social Entrepreneurship for the 21st Century: Innovation Across the Nonprofit, Private, and Public Sectors

by Georgia Levenson Keohane

An expert’s inside look into the ways social entrepreneurship is changing the world

Whether you’re a policymaker, investor, or involved in a nonprofit, Social Entrepreneurship for the 21st Century gives you the knowledge you need to make the best possible decisions for the future. A former McKinsey consultant reveals how social entrepreneurship has filtered into the workings of government and private enterprise, where social sector values are now shaping “social impact” capitalism.

Georgia Levenson Keohane is a Roosevelt Institute fellow, foundation executive, and former McKinsey consultant. She advises a range of poverty-fighting organizations, including philanthropies (Robin Hood Foundation), educational entities (New York City Charter School Center), community development organizations (Civic Builders), and think tanks (The Aspen Institute). She is an adjunct Professor at Columbia Business School.

Genres: Business

273 pages, Kindle Edition

First published January 1, 2012

About the author

Georgia Levenson Keohane is a Fellow at the Roosevelt Institute, where she works on a range of issues in economic policy, including poverty and inequality, employment and job growth, and social entrepreneurship and the role of firms in society. Keohane's career has bridged the private and nonprofit sectors. A former McKinsey consultant and foundation executive, she advises a number of organizations including philanthropies, educational entities, community development agencies, and think tanks. She has taught at Yale, and is an adjunct professor in the Social Enterprise Program at Columbia Business School. Keohane writes regularly on social and economic policy and the intersection of business and society for the Harvard Business Review, The Nation, The American Prospect, The Washington Monthly, Slate, and other publications. Keohane holds a BA from Yale University, an MBA from Harvard Business School, and an MSc from London School of Economics, where she was a Fulbright Scholar.

Reviews

[Eustacia Tan · Rating 4 out of 5]

Do you think that business should not be focusing only on profit, but also think of ways they can improve the markets they're in? Or to even aim at disadvantaged markets? Well, I used to think that this was either part of Corporate Social Responsiblity, or the reason why Non-profit Organisations exist.

But, this book challenged me to think otherwise. Sure, it's quite technical, but it has so many case studies that just by reading them, you can get a feel of how these new businesses are trying to operate.

In a nutshell, social entrepreneurship well, it's extremely hard to define. But like it's name suggests, it uses techniques common in entrepreneurship, and the work done is system changing and innovation. According to the author, "system changing" refers to "systematic" and "far-reaching" change. So it's like a huge business, but for good.

The book is divided into three parts: Social Entrepreneurship in the Nonprofit Sector, Social Impact in the Private Sector and Social Innovation in the Public Sector. Well, there is a fourth part, where they discuss the debates going around this issue (for example, introducing business practices may lead to an over-emphasis on the needs of Nonproft Organisations to make a profit (or at least break-even), which in turn may detract from their original purpose.

I found this book extremely interesting. Sure, it was dry at times, but who cares! Ok, fine, most people care. I think the "dryness" comes from the large amount of technical terms like Social Impact Bonds, which, although are explained, make this book seem to be aimed at the specialist rather than the laymen. And in some of the case studies, too many corporate names are given, and it doesn't feel like a story at all.

In conclusion, I think this book is great for those who are interested in this fairly new field. But, since there's a large amount of technical terms, it'll probably be best that the reader have at least some background knowledge in business.

Disclaimer: I got a free copy of this galley from NetGalley in exchange for a free and honest review.

This review was first posted at Inside the mind of a Bibliophile

[Fred Rose · Rating 5 out of 5]

A very well written and clear summary of a complex topic. The author looks at the whole range of innovation across all sectors and includes the entire scope of things that might fit under the umbrella of social entrepreneurship. It's a comprehensive but readable book and if you want one source to get the scope this would be it. It was probably written to be a text book.

[Alexey · Rating 5 out of 5]

A very detailed, fresh, and deep book on social entrepreneurship, and development in general. Almost entire book focused on measuring and increasing impact social enterprise can make. Absolutely recommended read if you're working in international development, NGOs, social entrepreneurship, government, or solving Millenium goals. Very good investment of your time and effort!