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Transcript of University of Luzon Dagupan City · PDF file UNIVERSITY OF LUZON, DAGUPAN CITY: THE TRIPLE...

  •                                          Univers ity of Luzon Dagupan City      

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    SOCIAL ENTREPRENEURSHIP PROJECTS OF THE

    UNIVERSITY OF LUZON, DAGUPAN CITY:

    THE TRIPLE BOTTOMLINE APPROACH

    Abstract

    The idea of business opportunity and entrepreneurial development

    through social entrepreneurship has become the focus not only of

    Governments but also of civil society, the private sector and even the

    academic institutions like the University of Luzon attuned to the

    promotion of the concept of corporate social responsibility.

    This study probed into measuring the impact of its initiatives

    concentrating on financial literacy and entrepreneurial development

    consistent with the triple bottomline approach (TBL) focusing on people

    (social), profit (economic) and planet (environmental) indices as a way to

    gauge the quality of life and standards of living of the beneficiaries.

    Selected social entrepreneurship projects were assessed on the

    basis of a 5-element criterion. In addition, weaknesses were identified

    alongside the implementation and the management of the said projects.

    Findings were then made as reference for the formulation of set of

    interventions for the better execution and quality of the projects.

    Key words: Social Entrepreneurship, Triple Bottom Line Approach, UL

  •                                          Univers ity of Luzon Dagupan City      

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    Introduction

    At the 2005 World Summit it was emphasized that sustainable

    development requires the reconciliation of environment, social equity and

    economic demands which constitute the three pillars of sustainability or

    the so-called triple bottom line that serves as a common ground for

    numerous standards and systems.

    With the triple bottom line approach, sustainability is viewed as a

    totality economic growth, human development and environmental

    protection requiring the involvement not only of Governments but also of

    civil society, the private sector and even the academic institutions and

    repeatedly highlighted in global conferences, including the 1992 Earth

    Summit and World Summit on Sustainable Development, with the end in

    view of implementing integrative and participatory strategies attuned to

    the achievement of the core of the Millennium Development Goals

    (MDGs) which range from reducing poverty to improving health care

    especially among children and women, increasing literacy levels and

    ensuring environmental stewardship.

    This perspective in development brought in the concept of Social

    entrepreneurship which backs up the article of Clark (2010) in

    http://content.undp.org to promote the economic recovery as a way to

    achieve the MDGs.

  •                                          Univers ity of Luzon Dagupan City      

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    Indeed, social entrepreneurship has become very important in the

    context of the race for globalization in the purview of poverty alleviation

    in both developed and developing countries.

    The idea of business opportunity and entrepreneurial development

    through social entrepreneurship in meeting the challenges of the 21st

    Century World has led to formation of organizations and redirection of

    existing institutions. Be it non-government or government; school-based

    or community-based; local, national, regional or international.

    In keeping with the social entrepreneurship criterion “Considering

    the relevant economic concepts and an entrepreneurial approach to

    improve their quality of life and standard of living,“ the University of

    Luzon SIFE (ULSIFE) made a phenomenal success in breaking new

    grounds in the field of social entrepreneurship consistent with one its

    core values – Social Responsibility, anchored upon business concepts of,

    but not limited to, financial literacy and entrepreneurial development.

    This expresses the commitment of the University to its philosophy of

    perecias y valias (skills and values) to fulfilling its trifocal function:

    instruction, research and community extension services.

    Noting rigors and hardships of organizational management, project

    implementation, monitoring and evaluation and most especially financial

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    administration in the implementation of the social entrepreneurship

    initiatives, the study concentrates on selected projects executed from

    2010 to 2012 highlighting, among others, the Project WOW (Wealth on

    Wonders) in Ifugao, Project SAVE+ (Sustainable Actions for Viable

    Enviro-preneurship Plus), Project Intensified CARE (Community Actions

    to Rescue the Earth) and Project WELL (Women Energizement towards

    Life-long Livelihood) for the marginalized sectors in Pangasinan, in

    particular, and the North Luzon Region, in general toward addressing

    contemporary issues and concerns through the positive power of

    business.

    With these social entrepreneurship projects, UL did not only

    assisted thousands of people but have upscaled in raising the level of

    committed of the students, teaching and non-teaching personnel, the

    administration and other stakeholders of the University in pursuit of

    corporate social responsibility..

    In view of the foregoing ratiocination, UL social entrepreneurship

    projects were assessed along the five (5) evaluation elements of the single

    criterion for social entrepreneurship ventures to offer a framework for

    quality project management on alternative measures on economic

    recovery for sustainable development.

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    Relative to this end is the identification of the restrictions and

    constraint that impedes project implementation essential to laying down

    the strategies for the review and updating of financial literacy and

    entrepreneurial development projects bringing diverse network of

    students, professionals and industry leaders around the shared mission

    of creating a better, more sustainable world through the positive power of

    business. Hence, by appropriately gauging the SIFE projects, the results

    of this study could be a reliable input for improving the quality of lives of

    the people specifically the underprivileged, the underserved and the

    depressed thus serving as a powerful tool for change in making a

    difference in the communities and at the same time develop the skills

    and competencies of the social entrepreneurs and transforming them

    into socially responsible business leaders.

    Conceptual Framework

    Measuring the impact and sustainability of social entrepreneurship

    projects is generally in terms of quality of life. The social, cultural and

    emotional circumstances of an individual or target groups, non-material

    aspects and standard of living; the physical, financial and environmental

    circumstances of an individual or target group are to be considered.

  •                                          Univers ity of Luzon Dagupan City      

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    Beyond the foundation of measuring sustainability on three

    fronts—people, planet and profits—the flexibility of the triple bottom line

    (TBL) allows organizations to apply the concept in a manner suitable to

    their specific needs.

    Encompassing the aforementioned guides to evaluation of UL

    financial literacy and entrepreneurial development initiatives is a

    framework of gauging the level of sustainable framework goes beyond the

    traditional measures of profits, returns in investment, and shareholder

    value to include environmental and social dimensions. The TBL

    dimensions are also commonly called the three Ps: people, planet and

    profits that relates to economic, environmental and social measures.

    Economic variables ought to be variables that deal with the bottom

    line and the flow of money. It could look at income or expenditures,

    taxes, business climate factors, employment, and business diversity

    factors.

    Environmental variables, on the other hand, should represent

    measurements of natural resources and reflect potential influences to its

    viability. It could incorporate air and water quality, energy consumption,

    natural resources, solid and toxic waste, and land use/land cover.

    Ideally, having long-range trends available for each of the environme