Social venture makes light work of expansion, from Financial Times. The article gives examples of three ventures. Discuss the merits of these three venturesprovide your own opinion on their uniqueness, efforts, and the reasons for their potential success or failure. In addition, provide your own opinion on Social Entrepreneurship. You should also review their web sites if any.Document Preview:By continuing to use this site you consent to the use of cookies on your device as described in our cookie policy unless you have disabled them. You can change your cookie settings at any time but parts of our site will not function correctly without them. It was not so long ago that Anna Stork and Andrea Sreshtafounders of LuminAID Lab, a social enterprise that makes solar-powered lanternssold their flashlights in batches of one or two through a website they cobbled together themselves. They responded to every single customer inquiry personally and single-handedly ran a successful crowdfunding campaign, Give Light, Get Light, where customers bought and also donated thousands of lights for people in the developing world. Now, a little over two years after Ms Stork and Ms Sreshta took first prize in the University of Chicago Booths Social New Venture Challenge, a business plan competition for social enterprises, things are different. Sales have doubled over the past six months, buoyed by 35 new wholesale accounts and a new sales channel on Amazon. The partners received an infusion of $100,000 in the form of a grant from the Clean Energy Trust in Chicago. And in July and August, the company hiredand paida team of undergraduate interns to run its social media efforts. They are getting there, says Craig Wortman, professor of entrepreneurship at Booth and an informal adviser to Ms Stork and Ms Sreshta. The past few months have been a time of clarity for LuminAID Lab. It has two distinct ambitions: to provide lightsat a deep discountto humanitarian agencies that work in disaster-hit regions so that relief workers and victims can function after dark; and to sell lights to outdoor enthusiasts and campers at a sufficient profit to support the business. These goals require markedly different sales strategies, marketing plans and pricing modelsthings that would be tricky for an established company to pull off and are incredibly challenging for a Attachments: chicagobooth.pdf
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