Business Strategies for Social Impact

Go to Course: https://www.coursera.org/learn/wharton-social-impact

Introduction

**Course Review: Business Strategies for Social Impact** **Platform:** Coursera **Instructors:** Professors Katherine Klein and Chris Geczy, University of Pennsylvania’s Wharton School --- In an era where businesses are increasingly held accountable for their contributions to societal and environmental well-being, it becomes vital for current and aspiring leaders to understand the nexus between profit, purpose, and positive social impact. Coursera's course, *Business Strategies for Social Impact*, is designed to equip individuals and organizations with the necessary skills and strategies to weave social good into their business frameworks, making it a must-take for anyone interested in sustainable business practices. ### Overview The course is thoughtfully structured to guide participants through the essentials of impact investing while nurturing a mindset focused on fostering social change. Developed by the esteemed Wharton professors Katherine Klein and Chris Geczy, it artfully balances theoretical knowledge with practical applications. It addresses a critical question: How can businesses effectively create positive social impact while remaining financially successful? ### Course Structure and Syllabus **Module 1: Purpose-Driven Leadership** This introductory module sets the stage for understanding the significance of purpose in leadership. By examining case studies from innovative companies like Daily Table and TOMS Shoes, learners develop the ability to articulate their organization's purpose and the role it plays in cultivating a culture of accountability and social responsibility. The focus on various models of social purpose enriches participants’ perspectives on how diverse organizations approach the pursuit of social impact. **Module 2: How Business Drives Social Impact** Participants delve into the intricate relationship between impact and financial performance. This module equips learners with analytical tools to assess how social and environmental considerations can permeate business strategies. Using real-world examples from esteemed companies like Starbucks and Warby Parker, the module empowers students to refine their approaches towards creating social good, ultimately resulting in both ethical and profitable business practices. **Module 3: Impact Measurement** Impact measurement is crucial for validating the effectiveness of socially-driven initiatives. This module introduces participants to the Sustainable Development Goals (SDGs) and Environmental Social and Governance (ESG) criteria, providing frameworks for assessing and strategizing impacts. Learners will come away with the ability to calculate Social Return on Investment (SROI), a vital skill for those looking to articulate the value of social initiatives effectively. **Module 4: Impact Investing** The final module immerses students in the fundamentals of impact investing, discussing global trends in socially responsible investing (SRI) and the mechanics behind impactful investments. The course discusses established models, such as microfinance, and the roles various stakeholders play in shaping the landscape of impact investing. By understanding the risks and rewards, learners can better navigate the landscape of impactful investments, ensuring that their investment choices align with social goals. ### Why You Should Take This Course 1. **Expert Guidance:** With Katherine Klein and Chris Geczy at the helm, participants benefit from their extensive experience and knowledge in the fields of business and social impact. 2. **Practical Relevance:** The course uses case studies and real-world examples to ground its teachings in practicality, allowing participants to apply their learning immediately in their own organizations. 3. **Comprehensive Understanding:** By covering a broad range of topics— from leadership and strategy to impact measurement and investing—participants gain a holistic understanding of how businesses can integrate social good into their core practices. 4. **Networking Opportunities:** Engaging with a community of like-minded individuals who share a passion for social impact can open doors for collaboration and innovative partnerships. 5. **Flexible Learning:** Offered on the Coursera platform, this course allows you to learn at your own pace, making it accessible for busy professionals. ### Conclusion The *Business Strategies for Social Impact* course is an invaluable resource for anyone looking to harmonize profitability with purpose in today's business landscape. If you are driven by a desire to instigate positive change through your professional endeavors, this course will provide you with the tools, strategies, and inspiration to make a meaningful impact. Enroll today, and embark on a journey toward becoming a leader who cultivates positive societal change through effective business practice. **Recommendation:** ★★★★★ (5/5) - This course is highly recommended for business leaders, aspiring entrepreneurs, and anyone interested in combining their professional efforts with social good.

Syllabus

Module 1: Purpose-Driven Leadership

In this module, you’ll learn how to define your purpose and develop a plan to cultivate purpose for your organization. You’ll gain a deep understanding of the critical importance of purpose-driven leadership in a successful organization and why businesses can and should pursue a larger social or environmental purpose. You'll also analyze the five models of social purpose, from generous contributors to impact investors. Through close examination of case studies such as Daily Table and TOMS shoes, you’ll learn how to test your assumptions and find the winning situation for your investors, employees, and customers. By the end of this module, you’ll have a more clearly defined understanding of the purpose your organization wants to pursue and how to prepare for successful implementation.

What is the relationship between impact and financial performance? Does it pay for a company to drive impact? In this module, you'll learn various methods businesses use to create social and environmental impact. You’ll identify the different components of impact measurement: valence, focus, depth, breadth, and cost-effectiveness. With Nick Ashburn, Senior Director of Impact Investing of Wharton Social Impact, you’ll discuss real-life examples such as Starbucks, Campbell’s Soup, and Warby Parker, and the impactful decisions they made in employment, operations, and investment. By the end of this module, you’ll be able to refine the method in which your business can reduce environmental challenges and/or ensure fair and equal opportunity, and create a plan for your company to drive both impact and financial performance.

In this module, you’ll examine the criteria and standards of evidence developed to measure the true social impact of your organization. You’ll identify the Sustainable Development Goals (SDGs) and Environmental Social and Governance Criteria (ESG) to be able to better answer the question “What is the Impact of X?” By examining the Nesta Foundation Framework and its standard of evidence, you’ll explore the different levels of rigor for each logic model using real-life examples and learn to accurately assess your organization’s inputs, outputs, and impact. By the end of this module, you’ll be able to calculate the Social Return on Investment (SROI) of your enterprise and be able to strategize an effective plan for your business.

This module was designed to introduce you to the basics of impact investing. By analyzing global trends on Socially Responsible Investing (SRI), classic models of impact investment such as microfinance, and actual research data, you’ll gain a deeper understanding of the current models of impact investment and which model would work best for your organization. Through exploring other benefit corporations and the UN Principles of Responsible Investment, you’ll discover how NGOs, government, and shareholders and their roles in impactful investments. By the end of this module, you’ll be able to gauge the risk and rewards behind impactful investments, and be able to navigate these issues effectively while exerting sustainable and meaningful impact.