Word: profitably
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...percentage of M.B.A.s going straight into the nonprofit sector remains in the single digits--after all, student loans are much easier to pay off with a for-profit salary. And, says Greg Dees, faculty director of Duke University's Center for the Advancement of Social Entrepreneurship, "many students, if they heard 'nonprofit management,' would be thinking about running a museum, a hospital. That's not what excites them. What excites them is finding innovative entrepreneurial solutions to social problems...
Enter a different breed of M.B.A.: social entrepreneurs like Priya Haji, 35, Siddharth Sanghvi, 30, and David Guendelman, 28, who last year founded the giftware company World of Good. A for-profit, socially responsible start-up that makes grants to a nonprofit sister organization, World of Good has impressed venture capitalists who usually put their money into the latest technological innovation. But the business plan put forward by the Berkeley M.B.A.s--which won this year's Global Social Venture Competition--has VCs convinced that there's also money to be made from handmade silk scarves, woven bags, beaded jewelry and "nonviolent...
...program known as Coffee and Farmer Equity (C.A.F.E.) Practices. By 2007, the company intends to buy more than half its coffee from a supply chain that independent auditors have inspected. Among the criteria: growers must minimize deforestation and receive "premium" prices, that is, those high enough to turn a profit...
...continue taking courses incorporating social responsibility throughout their tenure. Like the students, Michigan's faculty spends a great deal of time focused on social problems. Renowned professor C.K. Prahalad, for instance, recently penned The Fortune at the Bottom of the Pyramid, detailing how the private sector can both profit and do society good by building businesses that serve poor consumers...
Skoll is no novice to philanthropy or quixotic causes. As eBay's first president, he created the eBay Foundation with a donation of 107,250 shares of pre-ipo stock to fund community organizations and provide grants to a variety of non-profit groups. His $600 million Skoll Foundation awards up to 18 grants each year, ranging from $500,000 to $1 million, to midlevel social entrepreneurs. But when Skoll opened Participant Productions in January 2004 and announced his intention to cure what ails the world through film, even his greatest admirers predicted the billionaire would soon be downsizing...