Thanks for your interesting article. One question emerged while reading your article. In the recent JP Morgan report “Impact Investing: An emerging asset class,” the authors state that impact investments “provide capital to a business designed with intent to generate positive social and/or environmental impact and expect financial returns.” While TPSA was providing an important service to Polish citizens, their intent may have been profit, not social impact, in which case this impact would merely be a positive externality. When you describe your work with TPSA, you imply that, although you did not use this pitch to investors, the intention to “support a young democracy and foster a free and civil society through an improved telecommunications network” influenced your work. If so, it was your intent, not the business’, that led to a positive social impact. In this context, how much do you think intent matters for investors and companies? This question connects to social enterprises as well. Many leaders of social enterprises do not see themselves as social entrepreneurs and do not necessarily have the poor in mind, but rather, are capitalizing on a business opportunity. Do you think this makes them any less of a social entrepreneur? Thanks in advance for your input!
COMMENTS
BY MARIA EUGENIA CARVAJAL
ON November 20, 2011 02:24 AM
I very mucho appreciate your articles.
BY Z Sharma
ON November 20, 2011 07:35 PM
Dear Mr. Frank,
Thanks for your interesting article. One question emerged while reading your article. In the recent JP Morgan report “Impact Investing: An emerging asset class,” the authors state that impact investments “provide capital to a business designed with intent to generate positive social and/or environmental impact and expect financial returns.” While TPSA was providing an important service to Polish citizens, their intent may have been profit, not social impact, in which case this impact would merely be a positive externality. When you describe your work with TPSA, you imply that, although you did not use this pitch to investors, the intention to “support a young democracy and foster a free and civil society through an improved telecommunications network” influenced your work. If so, it was your intent, not the business’, that led to a positive social impact. In this context, how much do you think intent matters for investors and companies? This question connects to social enterprises as well. Many leaders of social enterprises do not see themselves as social entrepreneurs and do not necessarily have the poor in mind, but rather, are capitalizing on a business opportunity. Do you think this makes them any less of a social entrepreneur? Thanks in advance for your input!
Best,
Zubin
BY omar
ON November 21, 2011 09:14 AM
espero vuestra confirmación como suscriptor