Report
Author
[Institutional Affiliation(s)]
Author Note
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Contents
Mission Statement of the Business
Social Return on Investment for the New Start-up
Assumptions for the New Start-up
Validation as well as an Action plan of Assumptions
The primary purpose of a social
enterprise is to serve people that might be facing any kind of social issue
besides generating revenue for the firm. According to Mäkelä et
al. (2017), the main objective of a social enterprise is to
maximize the benefits for the affected people while keeping the profit aside.
The report will be a consultancy work that will help in structuring a new
social enterprise whose primary objective will be to help Acid Attack
Survivors. This report will also talk about a social issue that most women are
facing in the current societies and especially in developing countries like
India, Bangladesh, and Nepal. The report will talk in detail about a new
startup social enterprise in Delhi, India, whose primary objective is to help
Acid Attack Survivors. Chhaapak movie will also be taken as an example to
better understand the issue and meet the required goals for the new startup.
Meanwhile, the report will utilize the Mission Model Canvas alongside a visual
and graphical representation of the incidents. The report will develop a social
return on investment for the new start-up before concluding and providing
assumptions.
Overview
Acid
violence is the intentional utilization of acid to harm another person. Acid
violence disproportionately affects children and girls, and assailants
frequently aim at the face and neck to injure, blind, and burn them. The
action seldom murders, but it leaves survivors with serious physical, mental,
and social scars, and they are frequently left with little legal redress,
little access to health or psychiatric help, as well as no support system.
Acid violence is a global issue that isn't limited to any one ethnicity,
culture, or geographic area. The new
start-up will be a social enterprise that will frequently recruit and assist
people that are survivors of the acid attack.
Triggering Point
I was in
the marketplace in March 2016, enjoying the festival of colors, Holi, when I
spotted an acid attack survivor selling flowers. I learned from her that she
has a young child and that her spouse had divorced her. She had previously
worked as a receptionist in a hotel, but she was fired from that position as
well. I felt very bad for her that I started thinking of taking the initiative of
social enterprise by contacting my friends and colleagues. However, the main
triggering point for the new start-up social enterprise Acid attack survivor is
Chhaapak movie. According to [1],
Malti is the subject of an acid attack and must endure the pain of a legal
proceeding while attempting to recover emotionally. During this time, she
begins to fight for justice for those who are similar to her. I developed an
idea of employing such underprivileged people in my business as well as arrange
tours for them to meet and interact with others experiencing the same issue.
Meanwhile, I also wanted to help them in providing medical assistance and make
them feel special by interacting with them on regular basis. The social
enterprise that will be started will be based upon the Chhaapak movie and will
be named after “Aaham” meaning special. The social enterprise “Aaaham”’s main
office will be based in Mumbai, India. However, the organization will arrange
tours for their customers on regular basis to make them meet with other people
facing the same issues in other states of India.
Social Enterprise Model
Social
enterprises are firms that prioritize the well-being of society and the
environment over shareholder profit. These companies are driven by a shared
objective and reinvest their earnings in social development. This report is
also a social enterprise structure that will be used to develop an organization
that will be helping acid attack survivors. Given below is the social
enterprise model that will be utilized to develop a new start-up for acid attack
survivors.
Model
Impact
The impact
in the social enterprise model indicates that what will be the desired outcome
of the business when it will come into effect. These desired outcomes of the
new start-up “Aaham” can better be calculated from the social return on
investment approach. This will help in calculating the desired social values if
the intended program meets its criteria.
Mission Statement of the Business
The mission
statement of the business implies that what the business is willing to offer to
its customers as well as values that will be incorporated by the enterprises to
better help people in finding their desired outcome. The mission statement for
the new start-up enterprise will be as follow: The main aim of the “Aaham” is
to help those girls and children that are survivors of the acid attack and are
currently facing discriminatory behavior within the society. The business is
willing to provide them employment opportunities as well as medical assistance.
Meanwhile, the social enterprise “Aaham” arranges travel trips for the victims
to make them meet with other people experiencing the same issue in other states
of the country and may share their stories.
Opportunities
The main
opportunities for the social enterprise will be to open ways for all those
needy and vulnerable people in the society to seek their help and guidance from
the new start-up. Meanwhile, “Aaham” enterprise may also open its subsidiaries
in other states of the country as it will also organize trips for their
customers. These trips will help in building a brand name for the organization
and it will become easy for the start-up to start their business in other
states. Besides providing assistance to Acid Attack Survivors, the organization
may also help other disabled people who might also be the vulnerable part of
society. This will help the organization to open further departments as well as
assist in generating more revenue and funds.
Recognizing
Opportunities
The four basic characteristics of the opportunities can be
explained as follow:
Firstly, the initiative should be
attractive to the customers. Meanwhile, it should work in the business
environment or the new start-up. Furthermore, it must work in the window of
opportunities that are currently present. Lastly, one must have resources and
skills to implement its business plan or that person must know someone who
might help or assist the business to be executed accordingly.
Model
The model
that will be utilized to design the structure of the new start-up will be
Mission Model Canvas. The model will explain every bit of detail of the
business which includes, customer segments, channels, key resources, and value
proposition.
Market
The
targeted customer or consumers of the service will be the acid attack survivors
in the state of Mumbai. However, the new start-up will further increase its
reach over time. The reach will be further increased through tour organizations
into other states of the country and by spreading the efforts and works of the
organization in the first place.
Business Model Canvas
Business
model canvas will be utilized to explain the different steps being taken by the
new start-up. There will be 9 different boxes that will explain every step
being taken by the “Aaham” social enterprise.
Customer Segment
The
customer segments of the business model canvas will talk about the targeted
traffic or customers from whom the new start-up will be creating values. The
new start-up will be creating values from the vulnerable part of the society
especially in the locality of Mumbai, India. However, the most important
customers of the new start-up will be those who survived acid attacks in the
past.
Mass Market
Mass
marketing is a concept where an enterprise offers services for an entire
segment of the market but a small group of people [2].
The newly start-up business will offer its services to everyone who survived
acid attacks in the past irrespective of gender or age.
Niche Market
A segment
of the market dedicated to a single item can better be termed as .niche
market The features designed to address particular market demands, alongside the
price range, quality, and demography that it is meant to attract, are all
defined by the niche market [3].
The newly start-up social enterprise “Aaham” will address the needs of the vulnerable
part of the society that is acid attack survivors. Meanwhile, it will be a
non-profit organization that will work in Mumbai, India.
Segmented
The
customer segment to new start-up will be acid attack victims and the services
that will be provided to them includes the provision of employment and
arranging trips for them to meet with those who are also going through the same
issue.
Meanwhile,
the services will be diversified over time as the social enterprise will start
getting attraction from other parts of India. Furthermore, the social
enterprise will be introduced with new segments of customers other than acid
attack victims to also assist other vulnerable part of the society.
Value Propositions
A
business's value proposition is a promise made to a consumer or target group; the
proposal is a simple explanation of why a consumer must avail a service or good
from that specific business [4].
The “Aaham” social enterprise customers will be acid attack survivors and the
business will attract them by offering them employment as well as providing
incentives to them. However, the main segment of society that will be shown the
value of the business’s work and services will be those who will fund the
social enterprise to carry on their services. The main purpose of the new start-up
will be to provide employment opportunities for the acid attack survivors as
well as make them feel special and vital part of the society but a vulnerable
one.
Channels
The
campaigns that target through which a business communicates with its consumers
are known as channels, and they play a significant role in shaping the consumer
experience [5]. The
channels that will be utilized by the new start-up to reach their desired
customers include social media platforms, seminars, events at different NGOs,
appointments, print media, and the most robust one “The word of mouth”. The
newly start-up social enterprise may also utilize Omni-channel marketing to
reach such people through keywords and by creating a consistent brand
experience. The most cost-efficient channel that can be utilized by the new
start-up will be word of mouth that can be achieved through trips arranged by
the organization for different states. These trips can help the organization in
sharing their values using their acid victims to others who are also facing the
same issue.
Customer Relationships
Consumer
relationship is a process through which a social enterprise communicates or
interact with their clients to build or enhance customer experience [6].
The type of relationship between customers and service providers will be
friendly where consumers will feel comfortable to join our social forums and
look for opportunities within the “Aaham” social enterprise.
Revenue Streams
Revenue
streams of any business or firm are the process through which that business
earns money or revenue by selling its goods or services. However, in the case
of social enterprise, these kinds of businesses mostly collect revenue from
friends, family, or social networks through funds collection. Forty-five
percent of respondents got their money from commercial sources, while
twenty-one percent got it from close connections like friends and family, and the
other twenty-one percent got it via donations and grants from philanthropies [7].
The newly started social enterprise “Aaham” will also collect its revenue from
different close connections as well as relies on donations and grants from
various charitable organizations.
Key Activities
The key
activities of the social enterprise “Aaham” will be to look after their
consumers’ needs while keeping their safety and providing them with employment
opportunities. Meanwhile, the newly started social enterprise will also keep
good care of their consumer through better customer experience and best
services. Furthermore, the new social enterprise will also keep on doing
activities for fundraising at different platforms to carry on their routine
activities without any financial problem.
Key Resources
The key
component defining the most significant assets required to make a business
strategy effective is called Key Resources. Key resources are required by every
business plan, and they are the only way for organizations to create Value
Propositions and Earnings [8].
Material, monetary, creative, and human resources are all valuable resources. The
key resources that are being required by the new start-up social enterprise
“Aaham” will be its consumers that are acid attack survivors, philanthropies,
as well as donators, and charitable organizations. As the firm will also
provide social trips to its customers so transportation will also be one of its
major resources. Further, social enterprise will provide job opportunities to
acid attack survivors. Thus, it needs to build or sign a contract with
different companies across the locality to request them for specials jobs. In
short, key collaborating companies will also be the key resource of the social
enterprise.
Key Partners
The network
of partners and suppliers that help the business strategy operate is known as
key partnerships. Partnerships are formed by businesses to improve their
business strategies, decrease risk, and/or raise capital [9].
The key partners for the newly started social enterprise will be donators as
well as companies that will provide job opportunities. The key suppliers will
be donators and charitable organizations that will provide funds for the social
enterprise to carry on its routine activities. The key resources that will be acquired
from key partners will be funds and job opportunities for acid attack victims
from charitable organizations and businesses respectively. Meanwhile,
partnerships with different organizations will also help the new start-up
mitigate risks and uncertainty in the market.
Cost Structure
The cost
structure of the social enterprise will be based upon the business model.
Social enterprises reinvest the profit they earn or make from different sources
such as donations and charities. The resources that will be expensive for the
social enterprises will be to arrange trips and medical assistance for their
customers that are children and women who are survivors of acid attacks.
Meanwhile, it will also be challenging for the social enterprise to locate job
opportunities for their consumers, which also required a specific cost
structure to implement properly. The physical office that will be utilized by
the new start-up will also require rent as well as salaries for their
employees. However, the cost structure will be fixed as well as social
enterprises will look for voluntaries who voluntarily work for the social
cause.
Social Return on Investment for the New Start-up
SROI stands
for social return on investment, and it is a way of calculating benefits that
aren't normally represented in financial information. They can determine how
well a corporation utilizes its cash and other resources for overall social
well-being [10]. On
the other hand, standard cost-benefit analysis is used to calculate the
difference among projects or investments. However, SROI is used to investigate
the social as well as financial impact that a corporation might face in its
organizational structure.
Key Takeaways
SROI is not
a variable like traditional businesses that provide venture capitalists with
financial statements that show income, profits, net earnings, liabilities, as
well as other important indicators [11].
Meanwhile, SROI is a process that corporates with economic, social, and
environmental values that are being developed by an organization [12].
This implies that social impact value and the initial investment amount are the
factors that are being calculated through SROI. In short, the goal of releasing
SROI is to allow businesses to evaluate their social effect in monetary terms.
SROI and New Start-Up
Social
return on investment is the net present value of benefits to that net present
value of an investment. The formula that will be utilized by the social
enterprise to calculate SROI is given below
SROI=IIA×100% /SIV−IIA
Where, IIA
=Initial Investment amount, While SIV= Social Impact Value.
Initial
Investment Amount for new start-up = 100000 INR.
Social Impact
Value= 80 out of 100.
Assumptions
for the New Start-up
The
financial part comprises income and spending predictions for at least three
years, as well as a descriptive overview of the important assumptions. This
component also covers the costs of capital investments, inventory, early
advertising, and labor, as well as the support required to cover deficits
during the startup period. These financial regulations could be met by a
combination of contributions and borrowing from different Non-governmental
organizations, charities, and donators. The assumptions for the new start-up
social enterprise “Aaham” are given below.
·
The start-up cost for the
capital as well as equipment in the case of social enterprise will be a one-time
investment.
·
The capital that will be
required for the social enterprise will be a projector which will help in
telling people different stories through visual displays as well as routine use
of capital.
·
The new social enterprise
also will have to acquire personal transport for the purpose of trips and
visits to other states.
·
The social enterprise will
collaborate with industries and businesses in the locality, which will offer
jobs for acid attack survivors.
·
The new social enterprise
will also contact different charities and business personals for the purpose of
donations and funds.
·
The campaign for the new
start-up will be launched utilizing social media platforms such as Facebook,
Instagram, Business WhatsApp, and “Word of Mouth”.
·
The new set-up will hire
volunteer staff in the initial phase of the business.
Validation as
well as an Action plan of Assumptions
·
The first assumption that
is being made for the new start-up is valid and achievable as every business
needs fixed capital in the startup. Meanwhile, the action plan for the first assumption
will be to utilize funds from the donators and charity forums.
·
The assumption and
requirement for a projector are also valid and can be acquired from the initial
funds and investment. The projector is valid because it will help the social
enterprise to share the stories of those who survived acid attacks but are
living miserable life.
·
The third assumption of
acquiring personal transport for the social enterprise is also valid because it
will help the business in helping acid victims to meet with others in different
states. Meanwhile, this will also help the business in earning reputation and
brand image through “word of mouth”. This assumption of transport will also be
implemented utilizing initial investment for the business.
·
The fourth assumption is also valid as the new
social enterprise will have to contact and collaborate with companies or
businesses in the locality to place their consumers as their employees. The
action plan that will be utilized to implement this assumption will be to
contact the executives of different businesses and letting them know about the
vulnerability of acid attack survivors in order to gain their trust.
·
The fifth assumption is
very valid in the case of social enterprise “Aaham” as the business will need
funds and financial support to invest in its initial capital. The action plan
for this assumption will be to start a campaign through social media as well as
contacting different charities to provide funds for our new start-up.
·
The sixth assumption is
also valid as a new startup can easily access social media platforms to
advertise its business. The action plan for the sixth assumption will be to
hire a media personality that will help the organization in promoting its
business. Meanwhile, the trips that will be organized by the firm will also
assist the business in spreading word of mouth through their consumers (Acid
Attack Survivors).
·
The last assumption of
hiring and advertising for volunteers is also valid. As the social enterprise
is a social case, so there are chances that many people will join as a volunteer
for this cause to help such needy people.
Conclusion
The primary
purpose of this report was to plan a business model for the social cause “Acid
Attack Survivors”. The report addressed the social cause as well as built a
business model that will be utilized to provide job opportunities as well as a common
forum to collaborate for acid attack survivors. The report utilized the social
enterprise model alongside the social business model canvas to design a plan
for the social cause. Meanwhile, the report also used the social return on
investment to highlight the social impact of the model in monetary terms. The
report also gave assumptions as well as validation of those assumptions
alongside an action plan.
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[1]
FoxStarHindi, Chhapaak | Official
Trailer | Deepika Padukone | Vikrant Massey | Meghna Gulzar | 10 January 2020,
2019, https://www.youtube.com/watch?v=kXVf-KLyybk.
[2]
S. Vignesh Kandasamy et al.,
“Location Based Advertising for Mass Marketing,” International Archives of
the Photogrammetry, Remote Sensing and Spatial Information Sciences 42, no.
5 (2018).
[3]
Ilya Volkov, “NICHE MARKET,”
in INDIVIDUAL. SOCIETY. STATE. Proceedings of the International Student and
Teacher Scientific and Practical Conference, 2019, 97–100.
[4]
Jitka Pokorná et al., “Value
Proposition Canvas: Identification of Pains, Gains and Customer Jobs at
Farmers’ Markets,” AGRIS On-Line Papers in Economics and Informatics 7,
no. 665-2016–45080 (2015): 123–30.
[5]
Annisa R. Qastharin,
“Business Model Canvas for Social Enterprise,” Journal of Business and
Economics 7, no. 4 (2016): 627–37.
[6]
Abdullah Umar et al.,
“Improving the Social Enterprise-Based Business Performance from the Aspect of
Social Business Model Canvas,” International Journal of Entrepreneurship
24, no. 1 (2020): 1–12.
[7]
Wei-Feng Tung and Guillaume
Jordann, “Crowdsourcing Social Network Service for Social Enterprise
Innovation,” Information Systems Frontiers 19, no. 6 (2017): 1311–27.
[8]
Annisa Rahmani Qastharin and
Gregg Vanourek, “Understanding the Business Model of Social Enterprise: Case
Study of Indonesia Mengajar,” The Future Opportunities and Challenges of
Business in Digital Era 4.0, 2020, 239–43.
[9]
Jo Barraket et al.,
“Classifying Social Enterprise Models in Australia,” Social Enterprise
Journal, 2017.
[10]
Marco Bellucci et al.,
“Accounting for Social Return on Investment (SROI): The Costs and Benefits of
Family-Centered Care by the Ronald McDonald House Charities,” Social
Enterprise Journal, 2019.
[11]
Joseph J. Cordes, “Using
Cost-Benefit Analysis and Social Return on Investment to Evaluate the Impact of
Social Enterprise: Promises, Implementation, and Limitations,” Evaluation
and Program Planning 64 (2017): 98–104.
[12]
Cordes.
