Monthly Archives: February 2012

SocEnt Weekend – From Idea to Social Enterprise in just 50 Hours!

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The SocEnt weekend was kicked off on Friday evening by Mayor McGinn of Seattle challenging us with several ideas to make Seattle a better city; one of which was taken up by a team and formed into a viable social enterprise.  This was followed by about 35 participants making a one minute business pitch and then by a vote for the most inspiring projects to determine what exciting social enterprise concepts could be turned into reality.  Teams formed, work began, delving into business models for twelve business ideas. Work continued feverishly until midnight with thoughts, designs, creation and more.  
Saturday morning arrived with excited individuals showing up to continue the process and move forward.  Several teams arrive at the decision to disband due to the daunting task.  Others endure to push ahead into unknown territory.  Teams are forming and reforming, individuals are floating between teams providing insight, mentors are providing vision and advice creating a unique environment.  
Sunday arrived and people show up to the wonderful aroma of fresh made waffles being cooked by the event organization staff.  Work continues as teams try to arrive at a finished pitch for judges by 4 pm.  More coaching is provided; strategies, marketing, social impact and much more are discussed by individuals who all want to make the world a better place. 
At last final pitches are presented to the judges and the winners are announced.  The weekend has been successful from many aspects.  People are excited regarding the input provided and to get positive feedback on ideas and to move forward with concepts that for many have been in development for several years or more.  
Personally I enjoyed the weekend from the networking perspective and left with a good feeling and also with many questions.  How do we replicate this elsewhere?  Seattle and the Pacific Northwest are unique in this country as well as in the world.  How do we spread this innovative spirit around the world?  How do we create a desire to create shared value in small, medium, and large businesses across the globe?  More discussion on that in the next addition.

What does the future hold?

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The FutureScapes project by Sony has given me food for thought.  It is a collaborative project involving experts from many fields to think about and work together to a more sustainable future.  It is attempting to involve the public in envisioning what the world will look like in 2025.  What does this say about how corporations are viewing the public in regards to collaboration?  
Watch the following scenarios:

Sony and Forum for the Future have requested input from the public on what is envisioned for 2025.  This will allow them to gather data and insight into what there customers are thinking.  
On the other hand corporations such as Target are gathering data about consumers How Companies Learn Your Secrets  Reading many of the comments regarding this article, it is clear that many consumers are upset with the covert gathering of information for marketing strategies.  Would it not be more prudent to ask for collaboration in future products and marketing of times in a project like FutureScapes ?

Profit with Purpose

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Today the Super Bowl was contested.  According to published reports Super Bowl Ads cost 3.5 Million for each 30 second spot.  Super Bowl Ads Cost Average of 3.5 M
At the recent 2012 Annual Meeting of the World Economic Forum the 2011 millennial global survey conducted by Deloitte Touche Tohmatsu Limited (DDTL) was released.  The study showed that a vast majority of organizations have a formal statement detailing its “societal purpose” but most feel that this purpose is not well known by customers and consumers.  Business Leaders and Millennial Agree – the Purpose of Business is More than just Profit

This suggests that most companies need to do a better job communicating the impact and contribution that is made to society.  Watch the following video of Barry Salzburg from DDTL:
Considering this information, why are companies spending 3.5 million for a 30 second advert.  Would the money be better spent educating consumers about the contribution made to society?  As the baby boomers move towards retirement and the millennial generation becomes more influential on business it will become increasingly important to convey this message effectively.  

Tomorrows business leaders will need to place more importance on “societal purpose” and combine marketing and strategy with expressing the corporate involvement to the public.  When corporations can deliver a message of corporate strategy of societal purpose and gain a competitive advantage it will permit more credibility.  This message will need to be conveyed internally as well as externally.