Reflection Journal: Week 06

The summary of the main ideas of week 06 topics mainly talk about sustainability and funding sources of social enterprises and their social value creation. How social enterprises raise funds to finance their activities should they be an NGO as traditional philanthropy doesn't provide them with a stable, long term source of finance. The lessons teaches us about a regular startup funding as network investments, banking, equity debt, convertible debt, crowdfunding etc. as well as social entrepreneurs thinking innovatively and identifying partners who can bring economic value to both parties.

What did spark my interest was Michael Porters video on why business can be good at solving problems. He recognized the seemingly problems in the world, poor nutrition, access to clean water, climate change, deforestation, lack of skills, not enough food, health care and pollution. Simply put, why do we have all of these social problems? In response to these rising social problems, the past several years has seen the ballooning of the social sector, NGOs and social organizations to find solutions to these societal problems. He emphasized on us can’t make a large scale impact on the problems because on the current models, we don’t have enough resources. But in all the fundamentals are that businesses must impact and address these problems.

“If poverty makes us miserable, it stands to reason that wealth makes life worth living. But does it? Psychologists aren’t so sure” Source: https://www.theguardian.com/money/2016/jan/07/can-money-buy-happiness. Mosiah 2:41 “And moreover, I would desire that ye should consider on the blessed and happy state of those that keep the commandments of God. For behold, they are blessed in all things, both temporal and spiritual; and if they hold out faithful to the end they are received into heaven, that thereby they may dwell with God in a state of never-ending happiness. O remember, remember that these things are true; for the Lord God hath spoken it”.
President David O. McKay has also said that Virtue, uprightness, faithfulness, holiness, and in keeping the commandments of God lead to a happy life, so therefore money cannot buy happiness it is through these attributes that we all can gain happiness.

My augment is that money cannot change the world; we only can change the world when we learn the basic principles established by the Lord and learn basic health issues like nutrition, not polluting our waters, clean environment so we will not get sick, learn skills so we can feed our families. We need to change the mindset.