Social Innovation - W06 Reflection - Revenue Generation
Revenue Generation · Summary of the week This week focused on enterprises’ finances and source of income. Ideas to start a social enterprise in the majority have one common roadblock, funding. Non-profits organizations specifically, struggle to find ways of rising income or sustain what they have without any external assistance. Grants and donations although a short-term program become the main source of income of many organization struggling financially; however, once these programmes cease, the organization’s impact stops. Therefore it is advisable for non-profit organizations to find an approach of developing good marketing strategies to divers their activities thus increasing the chances of more income. Professor Michael Porter's experience is very genius. Wherever he got interested and became aware of a social problem, then he formed a nonprofit. Businesses shouldn’t profit from causing social problems. They should by all means tr...