Inside the Initiative

FAQ

1. Why has social value creation become a priority at The Smith School of Business?

In today’s rapidly changing business climate, where people, profit and planet are interconnected more than ever before, social value creation is both desirable and inevitable. Environmental threats and depletion of resources have ignited a need for research on sustainability and technological innovations, especially as they relate to energy and ecological impact. In addition, there has been a growing emphasis on corporate social responsibility, particularly in the areas of medicine and health, service systems science, and information security. The faculty at the Smith School believes that globalization, accountability, and values-based leadership are the most important issues business schools should address to remain relevant now and in the future.

2. What does “social value creation” mean?

Social value creation is how businesses and business leaders work toward economic prosperity and transformative social change. Go to Inside the Initiative to learn more, or read this article.

3. What is a “social entrepreneur”?

Social entrepreneurs are changemakers dedicated to social transformation. Not only do they passionately pursue new opportunities to serve their particular vision, but they also are engaged in continuous learning and adaptation. They are bold innovators who are rarely limited by the resources at hand, and who exhibit a strong sense of accountability to the constituencies they serve.

4. Why are more and more businesses making social value creation a priority?

There are a number of reasons why businesses are engaging in social value creation. The social mission promoted within their own corporate cultures drives some, while others may view it as a way to maximize profits, attract and retain employees or reach new customer demographics. Whatever the motive, more and more companies are moving in this direction because their stakeholders are demanding greater transparency and accountability. Previous efforts towards social responsibility have given many businesses a more friendly and accessible public face, but in a sense these changes have been merely cosmetic. True social value creation goes far beyond incremental modifications. It seeks transformative change in how we do business and the imprint we leave behind.

5. I’d like to become more involved in social value creation. Where should I start?

If you are a student, perhaps the best way to get started is by becoming involved in one of our experiential learning projects or by joining one of our clubs. Students should also follow the center on Facebook and Twitter to stay up-to-date, and join our Terp Changemakers Facebook group. Go to Get Involved for more possibilities. Every student will also take at least one course in Ethics or Corporate Responsibility as part of his or her core curriculum requirements. Elective courses are also available.

Alumni, community leaders, and business professionals can interact with us on Facebook and Twitter, attend events and follow our blogs.

6. Can I “major” in social entrepreneurship at the University?

No, there is no social entrepreneurship major per se, but the Smith School offers both undergraduate and graduate level courses. Go to Curriculum for a complete list of courses.

7. Are there any student organizations on campus that address social impact or the environment?

Yes, there are a number of undergraduate and graduate-level organizations on campus. Go to Find a Club to learn more.

8. As a student, how can I get the most out of the Center for Social Value Creation?

The center is designed to provide a holistic approach to learning. To get the most out of what the Smith School has to offer, students should experience social entrepreneurship in and out of the classroom—through classes, fieldwork, research and career exploration.

9. Can you recommend any organizations that support social entrepreneurship research or publish on this topic?

There are several organizations worth exploring. Check out our Knowledge Toolkit for a list.

10. What resources, programs, or activities do you have for Social Sector Leaders?

While most of our events are designed for our students and alumni, some events are open to the public and may be of interest to local nonprofit leaders. Please check our calendar. Additionally, abstracts of our thought leadership are available and you can follow intellectual discourse on Facebook and Twitter, and our various blogs.