MG4J2 Half Unit
Social Business Design: Strategies for Enhancing Sustainable Impact
This information is for the 2024/25 session.
Teacher responsible
Dr Nadia Millington MAR 5.37
Availability
This course is available on the Global MSc in Management, Global MSc in Management (CEMS MIM) and Global MSc in Management (MBA Exchange). This course is available as an outside option to students on other programmes where regulations permit.
This course may be capped/subject to controlled access. For further information about the course's availability, please see the MG Elective Course Selection Moodle page (https://moodle.lse.ac.uk/course/view.php?id=3840).
Course content
A growing number of companies worldwide have launched social business subsidiaries as part of their agenda to effect positive change. Consequently, many reputable consulting firms such as BCG and Bain have established specialist departments focused on social business consulting.
A social business is an organization whose primary purpose is to address a social problem, such as homelessness, loneliness, access to education, malnutrition, or sustainability. Unlike a charity, a social business aims to achieve financial self-sustainability by reinvesting profits to further its social mission. The increasing popularity of social businesses and subsidiaries is evident, with more and more large and reputable corporations such as Unilever and Coca-Cola joining this movement. These organisations commit and combine significant resources with their ability to rapidly scale up initiatives in order to enhance people's lives globally.
This course equips students with specialist knowledge to lead or advise on social business projects or subsidiaries within multinational corporations, consulting firms, and startups. Given the dual objectives of social business - impact and profit - there are numerous theories, tools, and methodological approaches unique to this organisational form.
The first half of the course explores three strategies social businesses employ to design profitable solutions to social problems: problem-centric, human-centric, and opportunity-centric approaches. Students will have the opportunity to bring these theoretical streams to life via interactive class exercises and real-world experiments.
The second half of the course delves into theories, strategies and consulting frameworks for scaling or expanding the impact of a social business in a manner that balances both mission and margin.
Students will bring these concepts to life via a consulting project.