Harvard Case - Fundacion del Empresariado Chihuahuense (FECHAC)
"Fundacion del Empresariado Chihuahuense (FECHAC)" Harvard business case study is written by Loretta Serrano, Loretta Hernandez, Norma Hernandez, Carlos Romero. It deals with the challenges in the field of Social Enterprise. The case study is 32 page(s) long and it was first published on : Feb 9, 2005
At Fern Fort University, we recommend FECHAC adopt a hybrid organizational model that leverages its existing strengths in entrepreneurship education and business development while expanding into social impact investing and sustainable business development. This will allow FECHAC to achieve a triple bottom line by fostering economic growth, social well-being, and environmental sustainability in Chihuahua.
2. Background
FECHAC is a non-profit organization founded in 1990 with a mission to promote economic development in the state of Chihuahua, Mexico. The organization has a strong track record of success in providing entrepreneurship education and business development services to small and medium-sized enterprises (SMEs). However, FECHAC faces challenges in scaling its impact and adapting to the evolving needs of the community, particularly in addressing issues of poverty, environmental sustainability, and social inclusion.
The main protagonists of the case study are:
- FECHAC's Board of Directors: They are responsible for setting the organization's strategic direction and overseeing its operations.
- FECHAC's Executive Director: He is responsible for implementing the organization's strategy and managing its day-to-day operations.
- FECHAC's Staff: They are responsible for delivering the organization's programs and services.
- Chihuahua's Business Community: They are the primary beneficiaries of FECHAC's services.
3. Analysis of the Case Study
FECHAC's current model is effective in fostering entrepreneurship and economic growth but needs to be expanded to address the broader social and environmental challenges facing the community. This can be achieved by adopting a hybrid organizational model that combines traditional non-profit activities with social impact investing and sustainable business development.
Framework: This analysis uses the Social Enterprise Framework to evaluate FECHAC's current model and identify areas for improvement. This framework considers the organization's mission, business model, impact measurement, and governance structure.
Current Model:
- Mission: Promote economic development in Chihuahua.
- Business Model: Provide entrepreneurship education and business development services to SMEs.
- Impact Measurement: Focuses on economic indicators such as job creation and business growth.
- Governance Structure: Non-profit organization with a board of directors and an executive director.
Areas for Improvement:
- Expanded Mission: Include social and environmental impact alongside economic development.
- Hybrid Business Model: Integrate social impact investing and sustainable business development activities.
- Comprehensive Impact Measurement: Track social and environmental impacts alongside economic indicators.
- Enhanced Governance Structure: Incorporate expertise in social impact investing and sustainable business development.
4. Recommendations
1. Establish a Social Impact Investing Fund: FECHAC should create a dedicated fund to invest in social enterprises and businesses that address social and environmental challenges in Chihuahua. This fund can be structured as a social impact bond or a venture philanthropy initiative.
2. Develop Sustainable Business Development Programs: FECHAC should offer programs and services that help businesses adopt sustainable business models and integrate environmental sustainability into their operations. This can include training on circular economy principles, ethical supply chains, and renewable energy.
3. Partner with Businesses and Government: FECHAC should leverage its existing relationships with the business community and government agencies to build cross-sector partnerships for social impact initiatives. This can include collaboration with corporations on corporate social responsibility programs and with government agencies on public-private partnerships.
4. Enhance Impact Measurement and Reporting: FECHAC should develop a comprehensive social impact measurement framework that tracks the social and environmental impacts of its programs and investments. This framework should be transparent and publicly reported to demonstrate the organization's accountability and effectiveness.
5. Strengthen Governance and Expertise: FECHAC should recruit board members and staff with expertise in social impact investing, sustainable business development, and impact measurement. This will ensure that the organization has the necessary skills and knowledge to effectively manage its expanded mission and activities.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Mission Consistency: The recommendations leverage FECHAC's existing strengths in entrepreneurship education and business development while expanding its mission to address social and environmental issues.
- External Customers and Internal Clients: The recommendations will benefit SMEs, social enterprises, communities, and the environment in Chihuahua.
- Competitors: FECHAC can differentiate itself from other organizations by adopting a hybrid organizational model and focusing on sustainable business development and social impact investing.
- Attractiveness: The recommendations are expected to generate a positive social return on investment (SROI) and contribute to the long-term sustainability of FECHAC.
6. Conclusion
By adopting a hybrid organizational model that combines entrepreneurship education, business development, social impact investing, and sustainable business development, FECHAC can significantly expand its impact and become a leading force for social innovation and sustainable development in Chihuahua. This approach will allow FECHAC to achieve a triple bottom line by fostering economic growth, social well-being, and environmental sustainability.
7. Discussion
Alternatives:
- Focus solely on traditional non-profit activities: This would limit FECHAC's impact and potential for growth.
- Become a purely for-profit social enterprise: This would require significant changes to FECHAC's governance structure and mission.
Risks:
- Lack of expertise in social impact investing and sustainable business development: FECHAC needs to build capacity in these areas.
- Difficulty in attracting investors and partners: FECHAC needs to develop a compelling investment thesis and build strong relationships with stakeholders.
Key Assumptions:
- FECHAC's board of directors and staff are committed to expanding the organization's mission and activities.
- There is sufficient demand for social impact investing and sustainable business development in Chihuahua.
- FECHAC can successfully attract investors and partners to support its initiatives.
8. Next Steps
Timeline:
- Year 1: Develop a strategic plan for the hybrid model, establish a social impact investing fund, and launch pilot sustainable business development programs.
- Year 2: Expand social impact investing activities, build partnerships with businesses and government, and refine impact measurement framework.
- Year 3: Scale up sustainable business development programs, establish a dedicated social impact team, and evaluate the overall effectiveness of the hybrid model.
Key Milestones:
- Develop a comprehensive social impact measurement framework.
- Secure funding for the social impact investing fund.
- Launch a pilot sustainable business development program.
- Establish partnerships with key stakeholders.
- Recruit staff with expertise in social impact investing and sustainable business development.
By implementing these recommendations and milestones, FECHAC can transform itself into a leading social enterprise that drives positive change in Chihuahua and beyond.
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Case Description
Takes place in Chihuahua, one of Mexico's largest and most industrialized states, located in the northeastern region of the country. Despite its relative prosperity, the state faced severe social drawbacks, both in rural and urban areas. Following a natural disaster in 1990, members of the private sector community came together to ask the government to approve an increase in the payroll tax (ISN) that companies paid, as well as the creation of a trust fund that would collect those resources and allocate them to city reconstruction efforts. Over the years, this initiative created by local businessmen to provide an emergency relief for a natural disaster developed into Fundacion del Empresariado Chihuahuense (FECHAC), a civil society organization (CSO) in charge of managing trust fund resources.
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