Reflection Journal #7
Business and Social Issues How do we address social issues? Is business important in addressing social issues? What business models are best in addressing social issues? These questions lead to more questions, but the reality is that a business model is developed to build a customer base and improve profit. Impact can be delivered in similar ways and business models like the lean start-up is extremely applicable to social issues. Lean start-ups get customer feedback from the start of their process and develops products based off customer input rather than starting with a business plan and product and then finding customers for the product. With social innovations, the customers are known, but the way to meet their needs are not always clear. Using the lean start-up model customer input can be used to help develop products that have true impact. This video shows how Bio Lite is innovating and how they have used lean start-up business modeling to impact lives across the world. https...