Harvard Case - CARE: Making Markets Work for the Poor
"CARE: Making Markets Work for the Poor" Harvard business case study is written by Ted London. It deals with the challenges in the field of Social Enterprise. The case study is 24 page(s) long and it was first published on : Nov 6, 2008
At Fern Fort University, we recommend CARE adopt a hybrid organizational model that leverages its strengths in nonprofit development with a new social enterprise arm. This approach will allow CARE to scale its impact by creating sustainable business models that generate revenue while addressing poverty and promoting sustainable development. This recommendation is based on a thorough analysis of CARE's current operations, the evolving landscape of social entrepreneurship, and the potential for shared value creation in emerging markets.
2. Background
CARE is a global humanitarian organization dedicated to fighting poverty and promoting social justice. Founded in 1945, it has a long history of providing aid and development assistance to developing countries. The case study focuses on CARE's efforts to create sustainable business models that can improve the lives of the poor. The organization faces challenges in scaling its impact, particularly in light of limited resources and the need to adapt to changing market dynamics.
3. Analysis of the Case Study
This case study can be analyzed through the lens of Social Entrepreneurship and Impact Investing. CARE's mission aligns with the principles of shared value creation and triple bottom line thinking, aiming to generate both social and economic benefits.
Key Challenges:
- Scaling Impact: CARE faces a challenge in scaling its impact due to limited resources and the need to adapt to diverse contexts.
- Financial Sustainability: Relying solely on donations creates dependence and limits the organization's ability to invest in long-term initiatives.
- Market Dynamics: Understanding the nuances of Base of the Pyramid (BoP) markets and developing inclusive business models requires specific expertise.
- Measuring Impact: Demonstrating the effectiveness of programs and achieving social return on investment (SROI) is crucial for attracting investors and maintaining credibility.
Opportunities:
- Social Enterprise: Creating social enterprises can generate revenue, build financial sustainability, and create jobs in underserved communities.
- Impact Investing: Attracting impact investors who seek both financial returns and social impact can provide significant capital for scaling initiatives.
- Partnerships: Collaborating with nonprofit organizations, businesses, and governments can leverage diverse expertise and resources.
- Innovation: Adopting social innovation approaches can lead to more effective and sustainable solutions for poverty alleviation.
4. Recommendations
1. Establish a Social Enterprise Arm:
- Create a separate entity within CARE focused on developing and managing social enterprises.
- This arm will operate with a triple bottom line approach, prioritizing both social impact and financial sustainability.
- This entity should have dedicated staff with expertise in entrepreneurship, business development, and social impact measurement.
2. Develop Sustainable Business Models:
- Identify opportunities for social enterprises that address specific needs in developing countries.
- Examples include microfinance institutions, agricultural cooperatives, renewable energy projects, and healthcare delivery models.
- Design business models that are both financially viable and socially impactful, focusing on shared value creation.
3. Leverage Impact Investing:
- Develop a clear impact investment strategy outlining the organization's investment priorities, risk tolerance, and expected social returns.
- Engage with impact investors and foundations to attract capital for social enterprises.
- Utilize social impact bonds and other innovative financing mechanisms to attract investors and demonstrate impact.
4. Foster Partnerships:
- Collaborate with businesses, government agencies, and other NGOs to leverage expertise and resources.
- Engage in cross-sector partnerships to create synergistic solutions that address complex challenges.
- Explore social franchising models to expand the reach of successful social enterprises.
5. Focus on Measurement and Evaluation:
- Develop robust social impact measurement frameworks to track the performance of social enterprises.
- Utilize SROI analysis to demonstrate the value created by social enterprises and attract investors.
- Regularly evaluate and adapt business models based on performance data and evolving market conditions.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Mission: CARE's expertise in development and its commitment to poverty alleviation are crucial assets for developing successful social enterprises.
- External Customers and Internal Clients: Social enterprises will serve the needs of vulnerable populations while providing opportunities for CARE staff to develop new skills and expertise.
- Competitors: The increasing interest in social entrepreneurship creates both opportunities and challenges. CARE needs to differentiate itself by focusing on its unique strengths and developing innovative solutions.
- Attractiveness: The potential for shared value creation, financial sustainability, and demonstrable social impact will attract investors and partners.
6. Conclusion
By adopting a hybrid organizational model and embracing social entrepreneurship, CARE can significantly enhance its impact, scale its operations, and achieve lasting change in developing countries. This approach aligns with the organization's mission, leverages its core competencies, and addresses the challenges of financial sustainability and impact measurement.
7. Discussion
Alternatives:
- Continuing with the current model: This would limit CARE's ability to scale its impact and potentially lead to financial instability.
- Merging with a for-profit entity: This could compromise CARE's mission and independence, potentially leading to conflicts of interest.
Risks:
- Market risk: Social enterprises may face challenges in competitive markets.
- Operational risk: Managing social enterprises requires specialized expertise and resources.
- Reputational risk: CARE's reputation could be affected if social enterprises fail to meet expectations.
Key Assumptions:
- Demand for social enterprise products and services: There is a need for sustainable solutions in developing countries.
- Availability of capital: Impact investors are willing to invest in social enterprises with a strong social impact.
- Effective management: CARE has the capacity to manage social enterprises effectively.
8. Next Steps
- Conduct a feasibility study: Assess the potential for social enterprises in specific sectors and regions.
- Develop a pilot program: Launch a small-scale social enterprise to test the model and refine strategies.
- Secure funding: Engage with impact investors and foundations to secure capital for social enterprise development.
- Build partnerships: Collaborate with businesses, NGOs, and government agencies to leverage expertise and resources.
- Develop a comprehensive social impact measurement framework: Track the performance of social enterprises and demonstrate their impact.
By taking these steps, CARE can successfully transition to a hybrid model that combines its longstanding commitment to social justice with the dynamism and sustainability of social entrepreneurship. This approach will enable CARE to create a more equitable and prosperous world for all.
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Case Description
CARE is an international, humanitarian, non-governmental organization (NGO) composed of twelve member countries that manage field operations in over seventy countries offices around the world, reaching more than fifty million poor people. In 2005, CARE started a pilot initiative in Central America to access whether its support of revenue-generating ventures provides sustainable and scalable poverty alleviation outcomes as well as an opportunity to generate excess revenues for the organization. This case focuses on CARE's challenges to explicitly incorporate a market-based approach within its portfolio of poverty alleviation solutions.
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