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    Cases With a Consicience: Entrepreneurial Solutions to Global Challenges
    Cases With a Consicience: Entrepreneurial Solutions to Global Challenges
    Cases With a Consicience: Entrepreneurial Solutions to Global Challenges
    Ebook165 pages1 hour

    Cases With a Consicience: Entrepreneurial Solutions to Global Challenges

    By Thomas Dean

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    About this ebook

    Written by students, for students of the global economy, Cases with a Conscience highlights innovative ventures that combine a passion for change with new products, technologies, and business models. As a classroom supplement or casual read, Cases with a Conscience inspires new thinking on the role of entrepreneurship in sustainable development.

    REVIEWS:

    "What I like best about this book is the diversity of enterprises we learn about and the fact that these are just a small sample of sustainability initiatives exploding across the globe. The easy to read and understand case studies illustrate the burgeoning interest and hope our young people have in conscience sustainable solutions.” -Mark A. Retzloff, Chairman and Co-founder, Alfalfa’s Market

    “Addressing our global environmental problems is a profound challenge that requires understanding of our past successes and clever innovations. This book delivers: students highlight examples of innovative companies that succeed and move us to a more sustainable world.” -Dr. Diana H. Wall, Professor and Director, School of Global Environmental Sustainability, Colorado State University

    LanguageEnglish
    PublisherThomas Dean
    Release dateNov 11, 2011
    ISBN9781465997951
    Cases With a Consicience: Entrepreneurial Solutions to Global Challenges
    Author

    Thomas Dean

    Thomas J. Dean is Professor of Entrepreneurship and Sustainable Enterprise in the College of Business at Colorado State University. His research and teaching passions are at the intersection of entrepreneurship and sustainability and the economic opportunities inherent in the transition to a sustainable economy. He previously taught at the University of Colorado, where he served as Faculty Director of the Deming Center for Entrepreneurship and founded the Cleantech Venture Challenge business plan competition, Sustainable Opportunities Summit, and Sustainable Venturing Initiative. Professor Dean began teaching sustainable venturing courses in 2001 and has developed new conceptual links between the fields of environmental economics and entrepreneurship. He also co-founded one of the first environmental management programs at the University of Tennessee, where he served as Faculty Associate at the Energy, Environment, and Resources Center. He is currently writing a textbook on sustainable venturing and pursuing further research on the topic. Professor Dean has consulted with a number of leading organizations on strategic and environmental issues and worked with universities in the U.S., United Kingdom, Eastern Europe, and Asia to develop curricular programs in entrepreneurship, environmental management, and energy.

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      Book preview

      Cases With a Consicience - Thomas Dean

      Cases With A Conscience

      Entrepreneurial Solutions to Global Challenges

      Smashwords eBook Edition

      Copyright 2011 Thomas J. Dean

      Written by:

      Colorado State University Sustainable Enterprise Students

      Edited by:

      Thomas J. Dean, Ph.D.

      Mila D.M. Birnbaum

      ***

      Preface

      Cases with a Conscience

      Social and sustainable ventures are at the forefront of change, engaging business principles and economic incentives to build ventures that demonstrate the positive power of entrepreneurship. They range from innovative non-profits to growth-oriented ventures, capturing opportunities in a diverse set of industries. From organic foods to clean energy, social and sustainable entrepreneurs are finding ways to combine their passion for change with innovative business models and exciting new products, services, and technologies.

      Cases with a Conscience showcases these innovative ventures and their efforts to solve global, social, and environmental challenges. It is comprised of student-written mini-cases and is designed to help students and practitioners understand the breadth, impact, and challenges of sustainable venturing. The reader can appreciate the tremendous diversity of the companies compiled herein and the manner in which they are succeeding. We hope these cases will stimulate new business ideas and inspire the entrepreneurial spirit. The cases are short examples rather than fully elaborated classroom cases, which makes them readily accessible to the casual reader and makes this compilation the perfect companion for courses on social or sustainable entrepreneurship.

      The editors compiled these cases from undergraduate and graduate sustainable venturing courses taught by Professor Thomas Dean at Colorado State University. While MBA students in the Global Social and Sustainable Enterprise program at CSU wrote most of the cases, a number of undergraduate students contributed as well. The editors are indebted to the great work of CSU’s students and inspired by the thoughtfulness they bring into the classroom.

      The Editors

      Thomas J. Dean is Professor of Entrepreneurship and Sustainable Enterprise in the College of Business at Colorado State University. His research and teaching passions are at the intersection of entrepreneurship and sustainability and the economic opportunities inherent in the transition to a sustainable economy. He previously taught at the University of Colorado, where he served as Faculty Director of the Deming Center for Entrepreneurship and founded the Cleantech Venture Challenge business plan competition, Sustainable Opportunities Summit, and Sustainable Venturing Initiative. Professor Dean began teaching sustainable venturing courses in 2001 and has developed new conceptual links between the fields of environmental economics and entrepreneurship. He also co-founded one of the first environmental management programs at the University of Tennessee, where he served as Faculty Associate at the Energy, Environment, and Resources Center. He is currently writing a textbook on sustainable venturing and pursuing further research on the topic. Professor Dean has consulted with a number of leading organizations on strategic and environmental issues and worked with universities in the U.S., United Kingdom, Eastern Europe, and Asia to develop curricular programs in entrepreneurship, environmental management, and energy.

      Mila D.M. Birnbaum holds an MBA from the Global Social and Sustainable Enterprise program at Colorado State University. Birnbaum combines extensive business experience with a passion for positive social change through the innovative connection of community empowerment, poverty reduction, social business, and sustainability strategies. She has more than 17 years of experience as a senior corporate paralegal, specializing in corporate and securities law, mergers and acquisitions, IPO’s, corporate governance, employee benefits and compensation, and investor relations for public and private companies in both the for-profit and non-profit sectors. Her background includes serving clients both legally and financially in a wide variety of industries such as biotech, alternative power, manufacturing, venture capital, software, and education. She holds a B.A. in political science from Reed College with a specialty in repressive governments’ relation to civil society.

      The Global Social and Sustainable Enterprise MBA Program

      The Global Social and Sustainable Enterprise MBA Program at Colorado State University (GSSE) seeks to provide sustainable enterprise solutions to some of the most stubborn issues of our time including poverty, disease, malnutrition, and environmental degradation. It graduates students with the appropriate training, experience, and character necessary to create and operate for-profit and non-profit startups and to work in multinational companies that champion social and environmental objectives while delivering solid returns on investment. The program admits a new cohort of 25 students each year, half of whom come from abroad. A recent cohort featured students from Ghana, Iraq, Moldova, India, Nepal, Venezuela, Mongolia, Brazil, Ecuador, and, of course, the United States. The centerpiece of the GSSE is an intensive summer practicum in which student teams work on ventures domestically and abroad to apply classroom learning in the real world. GSSE enterprise teams work on a wide array of projects, including clean energy, irrigation, consumer products, clean water supply, organic foods, and a host of other ventures.

      A Few Caveats

      While the editors have done their best to verify the information provided in these cases, the diversity of the companies and a limited timeframe prevented us from performing a complete analysis of all of the research in this compilation. The cases were also written over a number of years and may not reflect recent developments in these enterprises. We leave it to the reader interested in utilizing any of the information to verify it as is appropriate and timely for their use. In addition, the views contained herein do not necessarily represent the views of Colorado State University, the editors, or the publishers of this compilation.

      While the editors endeavored to include new products, technologies, and business models that are more socially and environmentally sustainable than traditional businesses, readers should understand that the determination of social and sustainable businesses remains a complex, uncertain, and even controversial pursuit. We also recognize the potential divergence between market incentives and business solutions and that business is not always financially motivated to operate in a sustainable manner. We believe the key to social and sustainable business resides in embracing the market system while recognizing the need to occasionally alter the property rights and incentives inherent in those systems. For further understanding of the intersection between the issues of sustainability, market systems and entrepreneurial opportunity, we encourage the reader to peruse the articles listed below.

      References

      Dean, T. J. & McMullen, J. 2007. Toward a Theory of Sustainable Entrepreneurship: Reducing Environmental Degradation through Entrepreneurial Action. Journal of Business Venturing. 22(1): 50-76.

      Pacheco, D. F., Dean, T. J., &. Payne, D. S. 2010. Escaping the Green Prison: Entrepreneurship and the Creation of Opportunities for Sustainable Development. Journal of Business Venturing 25(5): 464-480.

      SECTION 1

      INNOVATIVE BUSINESS MODELS

      SolarCity

      Carolyn Davidson

      March 2011

      Company Overview

      SolarCity is a leading full-service solar provider for homeowners, businesses, and government organizations, providing panel choice, installation, monitoring, and repair. Especially notable is the company’s innovative solar financing options, SolarLease and PurePower, which have expanded household and small business access to solar installations, improved SolarCity’s range of services, and provided an industry model for solar financing. The company was founded in California in 2006 by Lyndon Rive and quickly became the lead solar development company in California (SolarCity, 2011). Currently, SolarCity operates in 12 states and is the California industry leader in solar installation and solar financing (CSI, 2010).

      Product/Technology

      SolarLease and PurePower provide financing alternatives to homeowners and small businesses that cannot afford the upfront capital costs of solar panels. The cost for the average home ranges from $15,000 to $25,000 after tax incentives. In both cases, SolarCity will install, maintain, and own the solar panels. The customer, rather than paying the upfront cost to purchase and install the panels, pays only a monthly fee to SolarCity. The customer will continue to pay for power from their local utility when the solar panels are not drawing energy. However, the combination of payments to SolarCity and utility payments will be lower than a customer’s former utility bill. A typical lease lasts for 20 years, after which the customer can choose to sign a new lease with newer solar panels, extend the lease in five-year increments, or remove the solar panels altogether. In the case of SolarLease, the customer pays a fixed lease fee; in the PurePower arrangement, the customer only pays for electricity actually consumed through the mechanism of a power purchase agreement. The choice of SolarLease or PurePower depends on the customers’ state and city of residence, as well as their utility provider (SolarCity.com). SunRun, SolarCity’s leading competitor, provides the same leasing options but partners with local installers rather than providing full-service solutions to its customers (Proctor, 2010).

      Business Strategy

      SolarCity’s success rests on a base of superior customer service, value, and experience in over 500 communities throughout the continental U.S. The company’s unmatched ability to acquire tax-equity financing from investors (Citi Bank and USBSC, among others) differentiates it from competitors. SolarCity has been the recipient of 12 tax-equity based funds since 2009, totaling over $100 million in financing for new solar installations (SolarCity.com). Having the largest financing pool removes the most important barrier to household solar adoption, giving the company unmatched access to future customers. In Colorado, leases make up nearly half of new residential solar installations (Proctor, 2010). These programs allow the company to increase its customer base while passing on the tax credit to the final investor who contributed the initial capital (NREL, 2009). Solar City’s competitive advantage may only be as sustainable as its ability to continue to outpace its competitor’s access to tax-equity financing. In addition, this competitive advantage only holds for the short-term, during which time the need to avoid high upfront costs most drives the customer’s choice of solar provider. As economies of scale in photovoltaic technology begin to reduce the high upfront capital cost and tax incentives fade out, customer service and value will drive a customer’s company choice just as much, if not more, than will access to financing.

      Market/Industry Overview

      The solar industry is growing

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