Social Entrepreneurship Needs A New Business Model, Says This Global Thinker

By Alexandria Bordas
The Miami Herald

WWR Article Summary (tl;dr) Robert Hacker who teaches social entrepreneurship courses at FIU’s Honors College and MIT’s Sloan School insists that the companies of the future need to balance social goals with profit and redefine capitalism.

The Miami Herald

Robert Hacker doesn’t care much for the business model of non-profit organizations. He doesn’t believe that begging for money is a sustainable practice and yet he vehemently pushes entrepreneurs to be a part of the social movement.

Hacker fears for the future of the world if the world’s richest, most successful and most innovative don’t change their business plans to include social responsibility.

“You’re not building a company,” said Hacker, who teaches social entrepreneurship courses at FIU’s Honors College and MIT’s Sloan School. “You are building a movement. We need to balance social goals and redefine capitalism.”

Hacker strikes an interesting balance that is not typical of most business tycoons — he cares just as much about saving the environment as he does turning a profit.

His teaching foundation is built around one phrase: Social Entrepreneurship, which is exactly what is seems — entrepreneurship that addresses social problems.

Hacker was the keynote speaker at a recent Tuesday Talk Series, hosted by Global Ties Miami in Coral Gables.

“I teach people how to create a new business model who are socially concerned,” said Hacker, who spent three years as the chief financial officer with One Laptop Per Child, a worldwide initiative.

This was the fourth Tuesday Talk Series hosted by Global Ties Miami, a nonprofit that facilitates professional, educational and cultural exchange tours for emerging leaders in business and government.

Annette Alvarez, executive director, started theseries to connect topical issues with people who are interested in hearing them discussed with a global slant.

Carmen Hiers, a Global Ties board member, first heard Hacker speak years ago, when she was just venturing into the unknown waters of entrepreneurship.

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