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Once the users saw the new equilibrium appearing roche 75 mg their eyes, they embraced not only Apple but also the many competitors who leaped into the fray. Because of this new ecosystem, Apple could have exited from the market within a few years without destabilizing it. The new equilibrium, in other words, did not depend on the roche 75 mg of a single venture, in this case Apple, but on the appropriation and replication of the model and the spawning of a host of other related businesses.

In Schumpeterian terms, the combined effect firmly established a new computing order and rendered the old mainframe-based system obsolete. In the case of Omidyar and Skoll, the creation of eBay provided a superior way for buyers and sellers to connect, creating a higher equilibrium. The new equilibrium quickly became self-sustaining, and the initial entrepreneurial venture spawned numerous imitators. Together these outcomes ensured that everyone roche 75 mg benefited secured the higher ground.

If roche 75 mg are the key components of entrepreneurship, what distinguishes social entrepreneurship from its for-profit cousin. First, we believe that the most useful and informative way to roche 75 mg social entrepreneurship is to establish its congruence with entrepreneurship, seeing social roche 75 mg as grounded in these same three elements. Anything else is confusing and unhelpful. The truth is that entrepreneurs are rarely motivated by the prospect of financial gain, because the odds of making lots of money are clearly stacked against them.

Instead, both the entrepreneur and the social entrepreneur are strongly motivated by the opportunity they identify, pursuing that vision relentlessly, and deriving considerable psychic reward from the process of realizing their ideas.

Regardless of whether they operate within a market or a not-for-profit context, most entrepreneurs are never fully compensated for the time, risk, effort, and capital that they pour into their venture. We believe that the critical distinction between entrepreneurship and social entrepreneurship lies in the value proposition itself. For the entrepreneur, the value proposition anticipates and is organized to serve markets that can comfortably afford the new product or service, and is thus designed to create financial profit.

From the outset, the expectation is that the entrepreneur and his roche 75 mg her investors will derive some personal financial gain. Instead, the social entrepreneur aims for value in the form of large-scale, transformational benefit that accrues either to a significant segment of society or to society at large. This does not mean that social entrepreneurs as a hard-and-fast rule shun profitmaking value propositions. Ventures created by social entrepreneurs can certainly generate income, and they can be organized as either not-for- profits or for-profits.

Muhammad Yunus, founder of the Grameen Bank and father of microcredit, provides a classic example of social entrepreneurship. Unable to qualify for loans through the formal banking system, they could borrow only by accepting exorbitant roche 75 mg rates from local moneylenders.

More commonly, they Immune Globulin (Baygam)- FDA succumbed to begging on the streets. The women repaid all of the loan. Yunus found that with even tiny amounts of capital, women invested in their own capacity for generating income.

With a sewing machine, for example, women could tailor garments, roche 75 mg enough to pay back the loan, buy food, educate their children, and lift themselves up from poverty. Grameen Bank sustained itself by charging interest on its loans and then recycling the capital to help other women. Yunus brought inspiration, creativity, direct action, courage, and fortitude to his venture, proved its viability, and over two decades spawned a global network of other organizations that replicated or adapted his model to other countries and cultures, firmly establishing microcredit as a worldwide industry.

The well-known actor, director, and producer Robert Redford offers a less familiar but also illustrative case of social entrepreneurship.

In the early 1980s, Redford stepped back from his successful career to reclaim space in the film industry for artists. Redford was struck by a set of opposing forces in play. He Kristalose (Kristalose Lactulose Oral Solution)- Multum an inherently oppressive but stable equilibrium in the way Hollywood worked, with its business model increasingly driven by financial roche 75 mg, its productions gravitating to flashy, frequently violent blockbusters, and its studio-dominated system becoming more and more centralized in controlling the way films were roche 75 mg, produced, and distributed.

Seeing opportunity, Redford seized the chance to nurture this roche 75 mg breed of artist. Redford structured Sundance Institute as a nonprofit corporation, tapping his network of directors, actors, writers, and others to roche 75 mg their experience as cl 20 mentors to fledgling filmmakers. He priced the Sundance Film Festival so that it appealed and was accessible to a broad audience.

A new equilibrium, which even a decade ago felt tenuous, is now firmly established. Victoria Hale is an example of a social entrepreneur whose venture is still roche 75 mg its early stages and for whom our criteria apply ex ante. Hale is a pharmaceutical scientist who became increasingly frustrated by the market forces dominating her industry. Although big pharmaceutical companies held patents for drugs roche 75 mg of curing any number of infectious diseases, the drugs went undeveloped for a simple reason: The populations most in need of the drugs were unable to afford them.

Driven by the exigency of generating financial profits for its shareholders, the pharmaceutical industry was focusing on creating and marketing drugs for diseases afflicting the well-off, living mostly roche 75 mg developed world markets, who could pay for Norethindrone Tablets USP (Errin)- Multum. Hale became determined to challenge this stable equilibrium, which she saw as unjust and intolerable.

She created the Institute for OneWorld Health, the first nonprofit pharmaceutical company whose mission is to ensure that drugs targeting infectious diseases in the developing world get to the people who need them, regardless of their ability to pay for the drugs. It successfully developed, tested, and secured Indian government regulatory therapy musical for its first drug, paromomycin, which provides a cost-effective cure for visceral leishmaniasis, a disease that kills more than 200,000 people each year.

Although it is too early to tell whether Hale will succeed in creating pole new equilibrium that assures more equitable treatment of diseases afflicting the poor, she clearly meets the criteria of a social roche 75 mg.

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Comments:

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