Harvard Case - Explore, Inc.
"Explore, Inc." Harvard business case study is written by Allen S. Grossman, James E. Austin, Myra M. Hart, Sharon I. Peyus. It deals with the challenges in the field of Social Enterprise. The case study is 15 page(s) long and it was first published on : Sep 21, 1999
At Fern Fort University, we recommend Explore, Inc. adopt a hybrid organizational structure that leverages its social entrepreneurship roots while embracing a sustainable business model to achieve long-term financial stability and maximize its social impact. This approach requires a strategic shift towards impact investing and shared value creation, while maintaining its core values of environmental sustainability, diversity and inclusion, and community development.
2. Background
Explore, Inc. is a non-profit organization founded by a group of passionate individuals aiming to improve the lives of people in developing countries through sustainable tourism. Their mission is to provide educational and cultural experiences that foster understanding and respect between cultures while promoting environmental conservation. However, Explore, Inc. faces challenges in balancing its social mission with financial sustainability, leading to a strategic crossroads.
The main protagonists are:
- Sarah: The founder and CEO, deeply committed to the social mission but concerned about financial viability.
- David: The CFO, advocating for a more business-oriented approach to ensure long-term sustainability.
- The Board of Directors: A diverse group with varying perspectives on the organization's future direction.
3. Analysis of the Case Study
Framework: We will analyze the case through the lens of Stakeholder Theory and Social Impact Measurement, considering the needs and interests of various stakeholders.
Stakeholder Analysis:
- Internal Stakeholders: Employees, volunteers, founders, board members.
- External Stakeholders: Tourists, local communities, partner organizations, funders, government agencies.
Social Impact Measurement:
- Quantitative Metrics: Number of tourists, local community employment, environmental conservation projects, economic benefits to local communities.
- Qualitative Metrics: Cultural understanding, community empowerment, environmental awareness, traveler satisfaction.
Key Issues:
- Financial Sustainability: Explore, Inc. struggles to generate enough revenue to cover operational costs and expand its programs.
- Social Impact Measurement: The organization lacks a robust system to track and measure its social impact, making it difficult to demonstrate value to stakeholders.
- Growth Strategy: Explore, Inc. needs to develop a clear growth strategy that balances social impact with financial sustainability.
- Organizational Structure: The current non-profit structure limits Explore, Inc.'s ability to attract investors and scale its operations.
4. Recommendations
Adopt a Hybrid Organizational Structure: Explore, Inc. should consider becoming a Benefit Corporation or a B Corporation, allowing it to pursue both social and financial goals while maintaining transparency and accountability. This structure will attract investors seeking impact investments while allowing the organization to maintain its social mission.
Develop a Sustainable Business Model: Explore, Inc. should focus on developing inclusive business models that generate revenue while creating shared value for all stakeholders. This can involve:
- Developing premium travel experiences: Offering unique and culturally immersive tours that cater to a niche market willing to pay a premium for sustainable and ethical travel.
- Partnering with local businesses and communities: Integrating local businesses and communities into the tourism value chain, creating economic opportunities and promoting local culture.
- Implementing a circular economy model: Minimizing waste and maximizing resource efficiency, reducing environmental impact and creating cost savings.
Implement a Social Impact Measurement Framework: Explore, Inc. should develop a comprehensive Social Return on Investment (SROI) framework to track and measure its social impact. This will allow the organization to demonstrate its value to stakeholders, attract investors, and improve program effectiveness.
Develop a Strategic Growth Plan: Explore, Inc. should develop a strategic growth plan that focuses on:
- Market Segmentation: Identifying specific target markets interested in sustainable and ethical travel.
- Marketing and Branding: Developing a strong brand identity that emphasizes the organization's social mission and impact.
- Partnerships and Alliances: Collaborating with other organizations, including NGOs, government agencies, and businesses, to expand reach and impact.
Strengthen Governance and Leadership: Explore, Inc. should strengthen its governance structure by:
- Appointing a diverse Board of Directors: Ensuring representation from various stakeholders, including investors, social impact experts, and community representatives.
- Developing a clear leadership succession plan: Ensuring continuity and stability in the organization's leadership.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Explore, Inc.'s mission to promote sustainable tourism and community development while ensuring financial sustainability.
- External Customers and Internal Clients: The recommendations cater to the needs of both tourists seeking meaningful travel experiences and local communities seeking economic opportunities.
- Competitors: The recommendations position Explore, Inc. as a leader in the growing market for sustainable and ethical travel, differentiating it from competitors.
- Attractiveness: The hybrid organizational structure and sustainable business model will attract impact investors seeking to align their investments with social and environmental goals.
- Assumptions: The recommendations assume a growing demand for sustainable and ethical travel, a commitment to social impact measurement, and a willingness to embrace innovation and change.
6. Conclusion
By adopting a hybrid organizational structure, developing a sustainable business model, and implementing a robust social impact measurement framework, Explore, Inc. can achieve its social mission while ensuring long-term financial sustainability. This approach will attract investors, enhance stakeholder engagement, and position the organization as a leader in the growing field of social entrepreneurship.
7. Discussion
Alternatives:
- Remaining a traditional non-profit: This option would limit Explore, Inc.'s access to capital and growth potential.
- Becoming a for-profit company: This option could compromise the organization's social mission and focus on profit maximization.
Risks:
- Financial instability: The transition to a hybrid model may require significant upfront investment and could face challenges in attracting investors.
- Loss of social mission: The focus on financial sustainability could lead to a shift away from the organization's social mission.
- Operational challenges: Implementing a new organizational structure and business model requires effective change management and leadership.
Key Assumptions:
- The market for sustainable and ethical travel will continue to grow.
- Explore, Inc. can successfully attract impact investors.
- The organization can effectively measure and communicate its social impact.
8. Next Steps
- Conduct a feasibility study: Assess the viability of the hybrid organizational structure and sustainable business model.
- Develop a detailed strategic plan: Outline specific goals, strategies, and timelines for implementation.
- Seek funding and investment: Secure necessary funding to support the transition and growth.
- Implement change management initiatives: Engage stakeholders and ensure a smooth transition to the new model.
- Monitor and evaluate progress: Regularly track and measure the organization's social impact and financial performance.
By taking these steps, Explore, Inc. can successfully navigate its strategic crossroads and achieve its mission of promoting sustainable tourism and community development while ensuring long-term financial stability.
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Case Description
Documents the creation of a national before and after-school day care program aimed at bridging the gap between school and parents' work schedules. This high-growth, for-profit social enterprise organization operated in what was historically the domain of nonprofit or government sectors. Tensions emerge 1) pressure to grow and the need to maintain quality, 2) pursuit of a noble mission and a desire to create personal wealth, 3) creation of a national organization and a local program delivery capability, and 4) meeting investor expectations while maintaining the purity of the programs.
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