Harvard Case - Mistry Architects (A)
"Mistry Architects (A)" Harvard business case study is written by Amy C. Edmondson, Robert G. Eccles, Mona Sinha. It deals with the challenges in the field of Social Enterprise. The case study is 26 page(s) long and it was first published on : Feb 17, 2009
At Fern Fort University, we recommend that Mistry Architects embrace a hybrid organizational model that combines their architectural expertise with a dedicated social enterprise arm. This will allow them to pursue their passion for social impact while maintaining financial stability and growth. This approach will involve:
- Developing a clear social mission: Defining a specific social impact goal that aligns with Mistry Architects' values and expertise.
- Creating a dedicated social enterprise unit: Establishing a separate entity within the firm focused on social impact projects.
- Developing innovative business models: Exploring impact investing and social finance options to fund social projects and generate sustainable revenue streams.
- Measuring and reporting social impact: Implementing robust metrics to track the social impact of their projects and communicate their achievements effectively.
2. Background
Mistry Architects is a successful architectural firm with a strong commitment to social responsibility. The firm's founders, Mr. and Mrs. Mistry, are passionate about using their skills to address social issues, particularly in the area of affordable housing and community development. They are considering expanding their firm's social impact efforts, but they are unsure how to best integrate their social mission with their business operations.
The case study highlights the challenges faced by Mistry Architects in balancing their desire to create social impact with the need to maintain profitability and growth. The firm is considering various options, including:
- Creating a separate non-profit organization: This would allow them to focus solely on social impact projects but would require significant fundraising efforts.
- Integrating social impact into existing projects: This would be more manageable but could potentially dilute the firm's focus on its core business.
- Developing a hybrid model: This approach would combine elements of both a for-profit and non-profit organization, allowing them to pursue social impact while maintaining financial sustainability.
3. Analysis of the Case Study
The case study can be analyzed using the Stakeholder Theory framework, which emphasizes the importance of considering the interests of all stakeholders, including:
- Internal stakeholders: Employees, owners, and management.
- External stakeholders: Clients, suppliers, community members, and the government.
Mistry Architects needs to find a balance between the interests of these stakeholders. For example, employees may be motivated by the firm's social mission, while clients may prioritize affordability and quality.
The case study also highlights the importance of social impact measurement and transparency. Mistry Architects needs to develop clear metrics to track the social impact of their projects and communicate their achievements to stakeholders. This will help build trust and credibility with their clients, investors, and the community.
4. Recommendations
Mistry Architects should implement the following recommendations to effectively integrate their social mission with their business operations:
- Develop a clear social mission: Define a specific social impact goal that aligns with the firm's values and expertise. This could focus on providing affordable housing, improving access to healthcare, or promoting environmental sustainability.
- Create a dedicated social enterprise unit: Establish a separate entity within the firm focused on social impact projects. This unit could be structured as a Benefit Corporation, a legal structure that allows for both profit and social impact.
- Develop innovative business models: Explore impact investing and social finance options to fund social projects and generate sustainable revenue streams. This could involve partnering with impact investors, social impact bonds, or microfinance institutions.
- Measure and report social impact: Implement robust metrics to track the social impact of their projects and communicate their achievements effectively. This could include metrics like the number of people served, the amount of affordable housing built, or the reduction in environmental impact.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Mistry Architects' core competencies in architecture and their desire to create social impact.
- External customers and internal clients: The recommendations address the needs of both external customers, who may be looking for sustainable and socially responsible solutions, and internal clients, who may be motivated by the firm's social mission.
- Competitors: By embracing social entrepreneurship, Mistry Architects can differentiate themselves from competitors and attract clients who value social impact.
- Attractiveness ' quantitative measures: The recommendations are designed to be financially sustainable and generate a positive Social Return on Investment (SROI).
- Assumptions: The recommendations assume that Mistry Architects can secure the necessary funding and resources to implement their social impact projects.
6. Conclusion
By embracing a hybrid organizational model that combines their architectural expertise with a dedicated social enterprise arm, Mistry Architects can pursue their passion for social impact while maintaining financial stability and growth. This approach will allow them to create a positive impact on the community while also building a sustainable and profitable business.
7. Discussion
Other alternatives not selected include:
- Creating a separate non-profit organization: This would require significant fundraising efforts and could potentially dilute the firm's focus on its core business.
- Integrating social impact into existing projects: This could be more manageable but could potentially dilute the firm's focus on its core business and make it difficult to track social impact.
The key assumptions of the recommendation include:
- Mistry Architects can secure the necessary funding and resources to implement their social impact projects.
- The market for sustainable and socially responsible architecture is growing.
- Mistry Architects can effectively measure and report the social impact of their projects.
8. Next Steps
Mistry Architects should take the following steps to implement their social impact strategy:
- Develop a detailed business plan: This plan should outline the firm's social mission, the structure of the social enterprise unit, the business models to be used, and the metrics for measuring social impact.
- Secure funding: Mistry Architects should explore various funding options, including impact investing, social finance, and partnerships with NGOs.
- Develop a marketing strategy: The firm should communicate its social impact efforts to clients, investors, and the community.
- Build a strong team: Mistry Architects should recruit individuals with expertise in social entrepreneurship, impact investing, and social impact measurement.
By taking these steps, Mistry Architects can become a leader in the field of sustainable and socially responsible architecture, creating a positive impact on the community while also building a successful and profitable business.
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Case Description
Describes an architecture firm founded and run by a husband and wife team, Sharukh and Renu Mistry, that emphasizes "green" building. The firm presents an unusual mix of projects - spanning the spectrum from larger corporate projects to small private homes. The mix also includes more profitable work and projects deliberately selected for social good, including the design of orphanage communities for SOS Childrens International and other non-profit organizations. The mix engages teams of young architects in different kinds of learning opportunities, and allows them to manage these projects with an unusually high level of independence. The firm's founders are dedicated to being both very client-oriented and environmentally responsible. This can lead to some difficult choices and the case illustrates one example. The firm has been commissioned by SOS to design homes for some villages destroyed in the December 24, 2004 tsunami. The preferred design is thatch roofs which is in keeping with the local environment. However, the villagers want a more functional (and more expensive) reinforced cement concrete roof. Sharukh must decide which of his principles is to dominate in this situation. A (B) case presents and explains the decision. A (C) case discusses future plans for the firm.
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