Social Entrepreneurs: Correcting Market Failures (A) Harvard Case Solution & Analysis

In the most general sense, a market failure occurs when the production or distribution of goods or services to the market is the best solution. On the one hand, it could mean that the output, price, product distribution or inefficient in the sense that the overall level of economic value or welfare can be increased. On the other hand, it could mean that the resulting distribution is unfair or inconsistent with the values ​​of justice and fairness. From the point of view of public policy, such failures of concern, because the public interest or general welfare is lower than it would be if the market more effective. Traditionally, companies looked for government intervention to correct these market failures. Sometimes, charitable organizations got involved. However, entrepreneurs often called (or expected) to respond to failures in market efficiency by changing their behavior in the free market system. However, a new class of actors recently been recognized. These people often meet and manage organizations based on innovative ideas, using entrepreneurial skills, and the use of market principles, but with one important difference from traditional entrepreneurs: they prioritize social impact on the creation of wealth. These "social entrepreneurs" found and implemented new ways to create social and environmental value to the needs of the poor, disadvantaged and neglected communities. Analyzes the ideas, aspirations and influence of the three leading social entrepreneurs, their organizations and their efforts to correct a variety of classic market failures. "Hide
by James Phills, Lyn Denend Source: Stanford Graduate School of Business 36 pages. Publication Date: July 12, 2005. Prod. #: SI72A-PDF-ENG

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