1 00:00:04,380 --> 00:00:07,020 [Instructor] Welcome back to class, everyone. 2 00:00:07,020 --> 00:00:09,990 Today we're going to be talking about 3 00:00:09,990 --> 00:00:13,113 sustainability, mission, and vision. 4 00:00:16,170 --> 00:00:20,310 I wanna start with a model for success, 5 00:00:20,310 --> 00:00:25,110 the so-called hedgehog model that Jim Collins developed. 6 00:00:25,110 --> 00:00:28,590 Now, the reason it's called a hedgehog model 7 00:00:28,590 --> 00:00:30,990 is because it comes back to, 8 00:00:30,990 --> 00:00:33,660 I think it's one of Aesop's fables, 9 00:00:33,660 --> 00:00:38,660 where he talks about the hedgehog only does one thing well, 10 00:00:40,440 --> 00:00:43,230 which is ball up with spines out, 11 00:00:43,230 --> 00:00:44,520 and in spite of the fact 12 00:00:44,520 --> 00:00:48,690 that the fox does very, very many things well, 13 00:00:48,690 --> 00:00:53,130 this one thing that the hedgehog does well is so effective 14 00:00:53,130 --> 00:00:57,360 that the fox is not able to eat the hedgehog. 15 00:00:57,360 --> 00:01:02,360 I invite you to watch this video, but the bottom line is, 16 00:01:04,710 --> 00:01:06,630 Collins talks about 17 00:01:06,630 --> 00:01:11,630 the three keys to success of an enterprise. 18 00:01:12,870 --> 00:01:16,860 First is, what are you passionate about? 19 00:01:16,860 --> 00:01:18,510 What do you love doing? 20 00:01:18,510 --> 00:01:22,260 What feels more like play than work? 21 00:01:22,260 --> 00:01:24,060 What makes you excited? 22 00:01:24,060 --> 00:01:29,060 What really is true to your values? 23 00:01:29,430 --> 00:01:32,460 Because I will say that it's hard to be great 24 00:01:32,460 --> 00:01:35,403 at anything that you are not passionate about, 25 00:01:36,450 --> 00:01:38,490 which leads us to the next step. 26 00:01:38,490 --> 00:01:41,490 What is something that you are good at? 27 00:01:41,490 --> 00:01:44,250 What do you do extremely well? 28 00:01:44,250 --> 00:01:49,020 What do you do hopefully better than anybody else on earth? 29 00:01:49,020 --> 00:01:52,800 And finally, what can drive an economic engine? 30 00:01:52,800 --> 00:01:56,040 What will create value in such a way 31 00:01:56,040 --> 00:01:59,460 that someone will pay you to do it? 32 00:01:59,460 --> 00:02:00,630 So if you can find, 33 00:02:00,630 --> 00:02:03,210 if you can imagine this as a Venn diagram 34 00:02:03,210 --> 00:02:05,700 where these three circles meet, 35 00:02:05,700 --> 00:02:08,340 what are you passionate about, it's true to your values, 36 00:02:08,340 --> 00:02:12,330 it's what you love, with something you do extremely well 37 00:02:12,330 --> 00:02:15,420 and something that can drive an economic engine. 38 00:02:15,420 --> 00:02:18,210 Finding where these three circles meet 39 00:02:18,210 --> 00:02:21,903 is the key to success of any enterprise. 40 00:02:26,070 --> 00:02:31,070 Since this is a community entrepreneurship 41 00:02:31,350 --> 00:02:35,280 and we are hoping that you will develop and work 42 00:02:35,280 --> 00:02:40,280 in businesses not only that are personally satisfying 43 00:02:40,440 --> 00:02:44,490 and earn a profit and are sustainable, 44 00:02:44,490 --> 00:02:45,900 but we also hope 45 00:02:45,900 --> 00:02:50,900 that you will have broader community impact. 46 00:02:51,000 --> 00:02:52,500 And that's where the circle 47 00:02:52,500 --> 00:02:54,720 all the way on the right fits in, 48 00:02:54,720 --> 00:02:57,060 that which the world needs, 49 00:02:57,060 --> 00:03:00,690 and if you can find where these four circles meet, 50 00:03:00,690 --> 00:03:03,000 where that green star is, 51 00:03:03,000 --> 00:03:06,060 this is what this diagram calls purpose, 52 00:03:06,060 --> 00:03:10,023 and this is what can be your purpose in life. 53 00:03:12,930 --> 00:03:15,570 You saw this diagram before. 54 00:03:15,570 --> 00:03:20,280 Again, this is a basic overview of the course, 55 00:03:20,280 --> 00:03:25,280 and you see in the top left is the passion and ability, 56 00:03:25,920 --> 00:03:29,880 and next week, we're gonna be talking about 57 00:03:29,880 --> 00:03:34,880 the other two boxes on top, opportunity and external forces, 58 00:03:36,510 --> 00:03:40,650 which will help you to design a marketing plan, 59 00:03:40,650 --> 00:03:42,090 which will then create value, 60 00:03:42,090 --> 00:03:44,760 which will help you to achieve the mission 61 00:03:44,760 --> 00:03:45,873 of your organization. 62 00:03:52,410 --> 00:03:56,670 This class is called Marketing for Community Entrepreneurs, 63 00:03:56,670 --> 00:04:00,030 and I wanted to speak a little bit about my take 64 00:04:00,030 --> 00:04:04,623 on what is a community entrepreneurship? 65 00:04:06,780 --> 00:04:10,770 What is a community enterprise? 66 00:04:10,770 --> 00:04:14,610 And I'm going to quote the chair of our department, 67 00:04:14,610 --> 00:04:17,587 Dr. Kolodinsky, who says, 68 00:04:17,587 --> 00:04:19,770 "Community enterprises are those 69 00:04:19,770 --> 00:04:22,980 who are woven into their communities, 70 00:04:22,980 --> 00:04:25,500 rather than those like spaceships that plop down 71 00:04:25,500 --> 00:04:27,870 with shields and armor raised." 72 00:04:27,870 --> 00:04:32,280 The idea being that these enterprises 73 00:04:32,280 --> 00:04:36,120 that you will be developing and writing marketing plans for 74 00:04:36,120 --> 00:04:40,860 will be a true asset to your community 75 00:04:40,860 --> 00:04:43,680 and will create value and benefit 76 00:04:43,680 --> 00:04:47,160 alongside of your communities, 77 00:04:47,160 --> 00:04:51,760 and will not just exploit them for your own benefit. 78 00:04:53,580 --> 00:04:57,900 I also encourage you to read my blog post, 79 00:04:57,900 --> 00:05:00,450 which you can see the URL here, 80 00:05:00,450 --> 00:05:03,360 which talks more about my own view 81 00:05:03,360 --> 00:05:06,573 of community entrepreneurship. 82 00:05:12,150 --> 00:05:16,099 This is a sustainability class, 83 00:05:16,099 --> 00:05:20,550 so I want you to think about the concept of sustainability. 84 00:05:20,550 --> 00:05:23,340 And in many ways, the gold standards 85 00:05:23,340 --> 00:05:27,360 are the UN's Sustainable Development Goals, 86 00:05:27,360 --> 00:05:30,450 and I'm just gonna have you take a look at these 87 00:05:30,450 --> 00:05:35,450 and think about how these will be achieved, 88 00:05:37,260 --> 00:05:39,720 the benefits that they might bring. 89 00:05:39,720 --> 00:05:44,720 This is a very sort of specific mapped out sort of roadmap 90 00:05:46,110 --> 00:05:48,180 of what we should be doing 91 00:05:48,180 --> 00:05:53,180 to have a more sustainable planet and society and economy. 92 00:05:59,100 --> 00:06:01,710 And as you do this, I want you to think about 93 00:06:01,710 --> 00:06:04,710 how can your business contribute, 94 00:06:04,710 --> 00:06:09,450 and how can contributing this create opportunity? 95 00:06:09,450 --> 00:06:12,330 How are needs not being met? 96 00:06:12,330 --> 00:06:17,130 And how can your business or enterprise meet these needs 97 00:06:17,130 --> 00:06:19,893 in ways that further these goals? 98 00:06:28,350 --> 00:06:32,550 One model that has broken down these goals 99 00:06:34,080 --> 00:06:37,740 that we saw earlier 100 00:06:37,740 --> 00:06:39,780 into a somewhat simpler model 101 00:06:39,780 --> 00:06:44,780 is the so-called three-legged stool model of sustainability, 102 00:06:45,390 --> 00:06:50,390 and this comes from the world of sustainable agriculture, 103 00:06:50,520 --> 00:06:54,420 and thinking that a stool needs three legs 104 00:06:54,420 --> 00:06:56,790 and it needs all three legs to be stable, 105 00:06:56,790 --> 00:06:58,890 otherwise it isn't a stool. 106 00:06:58,890 --> 00:07:02,790 And so to have sustainability, 107 00:07:02,790 --> 00:07:07,080 that you have to have the economy, society, 108 00:07:07,080 --> 00:07:11,073 and the environment sort of working in a concert. 109 00:07:14,700 --> 00:07:17,550 This is also known as the three Ps 110 00:07:17,550 --> 00:07:20,283 of people, planet, and profit. 111 00:07:23,760 --> 00:07:26,763 We think about what makes it sustainable. 112 00:07:29,790 --> 00:07:32,160 What are the indicators? 113 00:07:32,160 --> 00:07:35,490 What do we look for to think about it? 114 00:07:35,490 --> 00:07:37,740 What is good for the environment? 115 00:07:37,740 --> 00:07:42,740 What is economically sound, and what is socially just? 116 00:07:46,170 --> 00:07:50,463 Thinking about each one, so we start with the environment. 117 00:07:52,320 --> 00:07:53,700 What can a business do 118 00:07:53,700 --> 00:07:57,210 to be more environmentally sustainable? 119 00:07:57,210 --> 00:08:01,470 What can it do to have a beneficial 120 00:08:01,470 --> 00:08:06,470 or at least less detrimental impact on the planet? 121 00:08:07,080 --> 00:08:09,960 And specifically, what are the indicators? 122 00:08:09,960 --> 00:08:13,590 What would you look for if you were going to judge 123 00:08:13,590 --> 00:08:18,030 whether a business is environmentally sustainable? 124 00:08:18,030 --> 00:08:19,170 What would you look for? 125 00:08:19,170 --> 00:08:20,910 What are those indicators? 126 00:08:20,910 --> 00:08:23,790 How would you know it when you see it? 127 00:08:23,790 --> 00:08:25,203 How would you measure it? 128 00:08:29,160 --> 00:08:33,123 And we're going to brainstorm these in class. 129 00:08:34,830 --> 00:08:36,090 In the same way, 130 00:08:36,090 --> 00:08:39,690 we can think about what makes social sustainability, 131 00:08:39,690 --> 00:08:44,690 and here are a few that I have been pondering. 132 00:08:44,760 --> 00:08:47,910 Thinking about the wellbeing of your employees, 133 00:08:47,910 --> 00:08:50,448 making charitable donations, 134 00:08:50,448 --> 00:08:53,973 promoting diversity in the workplace, 135 00:08:55,499 --> 00:08:59,340 giving employees time to serve in organizations. 136 00:08:59,340 --> 00:09:04,143 Things like that are some of the well-known indicators. 137 00:09:06,810 --> 00:09:10,710 Another indicator that I think is important 138 00:09:10,710 --> 00:09:15,480 is do the people who work at a business, 139 00:09:15,480 --> 00:09:19,410 would they feel like they could shop there or eat there 140 00:09:19,410 --> 00:09:21,390 or buy the product? 141 00:09:21,390 --> 00:09:24,690 Both can they afford to, 142 00:09:24,690 --> 00:09:28,200 and would they feel welcome there? 143 00:09:28,200 --> 00:09:31,420 Do they feel like people like me 144 00:09:32,520 --> 00:09:36,510 would feel welcome and belong in a business like that, 145 00:09:36,510 --> 00:09:40,770 to eat there, to shop there, to buy those products? 146 00:09:40,770 --> 00:09:45,000 That's one indicator of social sustainability. 147 00:09:45,000 --> 00:09:50,000 And to what extent are the owners, managers, and employees 148 00:09:50,040 --> 00:09:54,870 sort of jointly integrated into the community? 149 00:09:54,870 --> 00:09:59,220 What sort of community ties do they have outside of work? 150 00:09:59,220 --> 00:10:01,923 Might be another way of thinking about it. 151 00:10:06,810 --> 00:10:11,566 And last, what are the indicators 152 00:10:11,566 --> 00:10:14,730 of economic sustainability? 153 00:10:14,730 --> 00:10:19,680 What can a firm do to create wealth and value for itself, 154 00:10:19,680 --> 00:10:22,050 but do so equitably? 155 00:10:22,050 --> 00:10:27,000 How can it create a shared and enduring prosperity 156 00:10:27,000 --> 00:10:29,373 in its community? 157 00:10:30,870 --> 00:10:35,870 It's certainly important that a business earn a fair profit 158 00:10:36,840 --> 00:10:39,120 and earn a fair return 159 00:10:39,120 --> 00:10:43,890 to the entrepreneur's time and effort and investment, 160 00:10:43,890 --> 00:10:45,330 but it's also important 161 00:10:45,330 --> 00:10:48,993 that broader stakeholders benefit as well. 162 00:10:51,210 --> 00:10:52,860 A few things that I've thought about 163 00:10:52,860 --> 00:10:57,860 include paying a living wage to your employees, 164 00:10:57,900 --> 00:11:01,290 supporting other local businesses, and others. 165 00:11:01,290 --> 00:11:06,290 And again, we can discuss this when we do so in class. 166 00:11:14,670 --> 00:11:16,350 As an economist, 167 00:11:16,350 --> 00:11:20,970 the idea of a tradeoff is very important in my work, 168 00:11:20,970 --> 00:11:25,970 that it's very rare that some action is unambiguously good 169 00:11:29,070 --> 00:11:34,070 and does not create any sort of negative consequences 170 00:11:37,560 --> 00:11:39,930 for anything else. 171 00:11:39,930 --> 00:11:44,930 Or another way to to think about it in systems thinking 172 00:11:45,180 --> 00:11:48,390 is that all the dimensions 173 00:11:48,390 --> 00:11:52,410 sort of create positive feedbacks and drive each other, 174 00:11:52,410 --> 00:11:56,370 that it's much more likely in the the real world 175 00:11:56,370 --> 00:11:59,310 that by promoting one indicator, 176 00:11:59,310 --> 00:12:01,470 it might make it a little harder 177 00:12:01,470 --> 00:12:06,470 for another indicator to be achieved. 178 00:12:08,760 --> 00:12:13,590 Like for example, if you pay a very high wage, 179 00:12:13,590 --> 00:12:16,230 if you support local businesses, 180 00:12:16,230 --> 00:12:21,230 if you use very highly environmentally friendly practices, 181 00:12:21,510 --> 00:12:26,510 it may be that your costs of production 182 00:12:27,060 --> 00:12:30,390 will be higher than your competitors' 183 00:12:30,390 --> 00:12:33,540 which mean that you will likely have to charge 184 00:12:33,540 --> 00:12:35,954 a higher price for this good, 185 00:12:35,954 --> 00:12:40,677 and therefore, this good may not be as affordable 186 00:12:42,570 --> 00:12:46,590 to a broad base of consumers. 187 00:12:46,590 --> 00:12:49,140 So by sort of pursuing 188 00:12:49,140 --> 00:12:53,310 these economic and environmental goals, 189 00:12:53,310 --> 00:12:57,990 you may have to sacrifice some of the social ones. 190 00:12:57,990 --> 00:13:02,193 And again, we're gonna be discussing more examples of this. 191 00:13:09,270 --> 00:13:14,270 Another indication of community enterprise 192 00:13:15,000 --> 00:13:20,000 is how much are you wanted in your community? 193 00:13:21,480 --> 00:13:25,890 So many of you may have heard of the term of a NIMBY, 194 00:13:25,890 --> 00:13:28,117 a not in my backyard, 195 00:13:28,117 --> 00:13:33,117 like something that is polluting or an eyesore 196 00:13:33,630 --> 00:13:38,630 or otherwise something that community members don't want. 197 00:13:40,800 --> 00:13:44,700 Like they don't want a toxic waste dump 198 00:13:44,700 --> 00:13:49,700 or a trash incinerator right next to their house 199 00:13:49,740 --> 00:13:52,800 or right next to a park where they might hang out. 200 00:13:52,800 --> 00:13:57,800 This is a NIMBY, something you don't want in my backyard. 201 00:14:01,710 --> 00:14:06,710 My hope is that your businesses and that your organizations 202 00:14:07,350 --> 00:14:09,210 will be YIMBYs, 203 00:14:09,210 --> 00:14:14,160 that if you hear that this business is moving in next door, 204 00:14:14,160 --> 00:14:18,810 if the place where you want to locate the people there 205 00:14:18,810 --> 00:14:21,570 think this is a wonderful idea. 206 00:14:21,570 --> 00:14:26,570 It's going to really enhance our community, 207 00:14:27,345 --> 00:14:30,390 contribute to our wellbeing, 208 00:14:30,390 --> 00:14:34,890 that this would be a YIMBY, a yes in my backyard. 209 00:14:34,890 --> 00:14:38,460 And again, it is my hope that the organizations 210 00:14:38,460 --> 00:14:43,110 and businesses that you work for and develop 211 00:14:43,110 --> 00:14:45,300 and do your marketing plans on 212 00:14:45,300 --> 00:14:48,423 will be YIMBYs instead of NIMBYs. 213 00:14:57,210 --> 00:14:58,320 An important way 214 00:14:58,320 --> 00:15:03,253 that you can codify your sustainability values 215 00:15:04,110 --> 00:15:06,180 and all the values 216 00:15:06,180 --> 00:15:10,710 that your business or organization hold dear 217 00:15:10,710 --> 00:15:14,190 is in the mission and vision statements. 218 00:15:14,190 --> 00:15:16,800 So a mission statement, 219 00:15:16,800 --> 00:15:21,630 it outlines what are the primary objectives 220 00:15:21,630 --> 00:15:24,150 for an organization? 221 00:15:24,150 --> 00:15:26,133 Why does it exist? 222 00:15:28,290 --> 00:15:32,730 It can be important for an internal audience, 223 00:15:32,730 --> 00:15:34,950 in that it helps to guide what you do, 224 00:15:34,950 --> 00:15:39,950 and in some cases, sort of draw a box around what you do, 225 00:15:41,070 --> 00:15:46,070 and there may be certain activities that are a great idea. 226 00:15:46,140 --> 00:15:49,620 They're needed, they're important, they would benefit, 227 00:15:49,620 --> 00:15:52,260 but it's just not you, it's just not what you do, 228 00:15:52,260 --> 00:15:56,643 and hopefully another organization will do so. 229 00:15:57,960 --> 00:16:00,960 They tend to be very clear and succinct 230 00:16:00,960 --> 00:16:05,403 and tell what you do and for whom. 231 00:16:10,560 --> 00:16:14,040 This is CDAE's mission, 232 00:16:14,040 --> 00:16:16,980 that CDAE supports local, sustainable, regional, 233 00:16:16,980 --> 00:16:19,500 and international communities 234 00:16:19,500 --> 00:16:22,380 through research, education, outreach 235 00:16:22,380 --> 00:16:25,290 that serve the public interest. 236 00:16:25,290 --> 00:16:28,950 You can see that this spells out what we do, 237 00:16:28,950 --> 00:16:33,570 which is we do this research and education outreach. 238 00:16:33,570 --> 00:16:37,200 Why we do it, it's to serve the public interest 239 00:16:37,200 --> 00:16:41,673 and to advance the wellbeing, and for whom? 240 00:16:42,960 --> 00:16:47,960 The communities, both local to international, 241 00:16:48,690 --> 00:16:49,863 in which we work. 242 00:16:54,270 --> 00:16:59,270 Another way that you can codify your values 243 00:16:59,310 --> 00:17:01,443 is with a vision statement. 244 00:17:02,310 --> 00:17:06,270 And this says, if I am successful, 245 00:17:06,270 --> 00:17:09,120 what will the world look like? 246 00:17:09,120 --> 00:17:11,040 What is my aspiration? 247 00:17:11,040 --> 00:17:12,810 What do I hope to accomplish? 248 00:17:12,810 --> 00:17:17,220 What would the world look like if we are successful? 249 00:17:17,220 --> 00:17:21,900 Two very well known ones that I am particularly fond of 250 00:17:21,900 --> 00:17:24,780 is Martin Luther King's "I have a dream" 251 00:17:24,780 --> 00:17:29,780 and John Lennon's "Imagine." 252 00:17:29,850 --> 00:17:33,000 Now, I don't know if they were specifically laid out 253 00:17:33,000 --> 00:17:34,830 as vision statements, 254 00:17:34,830 --> 00:17:38,163 but I think they both have very powerful, 255 00:17:39,600 --> 00:17:42,420 draw a very powerful picture 256 00:17:42,420 --> 00:17:44,820 of what the world could look like 257 00:17:44,820 --> 00:17:47,010 and what a better world is like. 258 00:17:47,010 --> 00:17:51,963 And in my opinion, sadly, we have not achieved either one. 259 00:17:56,970 --> 00:18:01,970 A vision statement should be short, achievable, measurable. 260 00:18:03,900 --> 00:18:05,730 It should be bold and daring, 261 00:18:05,730 --> 00:18:08,550 and it should be logically linked to the mission, 262 00:18:08,550 --> 00:18:11,940 the values, and the goals of the organization. 263 00:18:11,940 --> 00:18:16,940 So again, by creating mission and vision statements, 264 00:18:17,220 --> 00:18:19,950 it goes a long way toward, 265 00:18:19,950 --> 00:18:22,980 with the mission statement, what do we do? 266 00:18:22,980 --> 00:18:24,180 Who do we do it for? 267 00:18:24,180 --> 00:18:25,590 Why do we exist? 268 00:18:25,590 --> 00:18:29,160 And the vision statement, what do we aspire to? 269 00:18:29,160 --> 00:18:32,130 What do we hope the world will look like 270 00:18:32,130 --> 00:18:33,783 if we are successful? 271 00:18:36,990 --> 00:18:39,270 Here are the key takeaways. 272 00:18:39,270 --> 00:18:42,630 We talked about community entrepreneurship, 273 00:18:42,630 --> 00:18:44,190 sustainable businesses, 274 00:18:44,190 --> 00:18:46,503 and the mission and vision statements. 275 00:18:48,690 --> 00:18:51,903 So again, here is your homework assignment. 276 00:18:53,100 --> 00:18:56,973 Please answer these questions. 277 00:19:02,850 --> 00:19:07,290 Thank you, and I look forward to seeing you 278 00:19:07,290 --> 00:19:10,863 virtually in class the next time.