The college I teach at has been involved with an Organization named Students In Free Enterprise (SIFE) for three years. It has turned out to be a great opportunity for our students to gain insight into a new world. We now have a wonderful partnership with Liberty Mutual, Enterprise Holdings and PepsiCo that would not have happened if not for SIFE. During the National Convention in May of this year the leaders of SIFE told us that they were going through a process of rebranding SIFE which would include a new name. They announced the new name over the weekend, and I for one am pretty excited about it.
ENACTUS is the new name. EN refers to Entrepreneurial, ACT relates to action. US, means that all of us are involved. Not too bad. I was a little worried what this rebranding action would do to our program. I think it has just broadened our horizons. One of our goals this year is get more of a cross section of students involved and this may help us do that.
The change seems to be congruent with where my college is heading. We are in the process of developing a Social Entrepreneurship program leading to a degree. This new program recognizes the importance of several elements: The importance of entrepreneurship and job creation; the need to develop skills; and lastly each of us need a cause to fulfill our godly purpose.
According to the WSJ Social Entrepreneurship is meeting a critical need in our society. “Across our country, social entrepreneurship partnerships between public and private sectors are providing millions of Americans – young and old – a second chance.” This particular article highlights ones example of how a Social Entrepreneur is making a difference. The Center for Employment Opportunities in New York has shown that for ever $1 spent on the Center has created a $4 reduction in cost associated with crime. This happens due to a reduction in recidivism and longterm employment.
Kolhberg, Kravis, Roberts & Co. have invested in double bottom-line business that create opportunities for keeping people out of prison and off government assistance. “Because if you don’t have a job, you don’t have hope, and if you don’t have hope, what do you really have?”
I really think our college is on to something. I plan on helping it get started.
And that is my thought for the day!