Students with Social Consciousness
Innovative M.B.A. course at C.W. Post examines how
businesspeople can start businesses that help the greater good

Brookville, NY – Can a business plan save the world? Students enrolled in the M.B.A. program at the C.W. Post Campus of Long Island University are willing to give it a try. By placing social responsibility equal to profit, students in the master’s-level course “Entrepreneurship Seminar” are studying the effectiveness of social entrepreneurship, in step with the trend of valuing public betterment as well as the bottom-line.

The students are divided into two groups to work on different major projects. One group is focusing on the nonprofit organization, “Water for Life in Africa,” that is spearheading an effort to bring fresh well water to a village of 5,000 people in Nigeria. The students are creating a business plan that will help to raise the $150,000 needed to purchase a well so the remote village can have clean water.

The second group is assisting a former teacher in starting a business that will feature an innovative technique for providing extra help in math to underprivileged students who can’t afford private tutors. The National Science Foundation in Washington, D.C., is interested in her after-school program, so the C.W. Post students are helping her to draft a business plan for submission.

“Social entrepreneurship is becoming a major component of the business world,” said business professor and course instructor James L. Freeley, Ph.D. “Where most entrepreneurs start a business to make a profit, social entrepreneurs set up a business that will make a profit and benefit society.”

Students appreciate the hands-on approach the class is taking, as well as the lessons learned. “Dr. Freeley is teaching us things we have never been taught before in ways we’ve never been taught before,” said Melissa Frohlinger, a full-time M.B.A. student who will graduate in May. The Massapequa resident said she is learning so much through the class, including the importance of having an impact on society.

The growing trend of social entrepreneurs reached new heights when the 2006 Nobel Peace Prize was awarded to Bangladeshi economist Muhammad Yunus, Ph.D., founder of Grameen Bank, for his work in establishing micro-loans to assist the poorest residents of Bangladesh to become self-sufficient entrepreneurs and raise themselves out of poverty.

“The old business model was giving charitable donations or using government grants. The new business model generates income that works toward the greater good,” Dr. Freeley said.

In addition to learning about social entrepreneurship, students also will have the opportunity to meet and interact with several Long Island CEOs in rare question-and-answer sessions, including the chief executives from Austin Travel and Delta Financial Corporation.

This class is the fourth component in an on-going project conducted by Dr. Freeley, an expert on entrepreneurship in the College of Management at C.W. Post. For more than 25 years, he has been involved with various aspects of the field of entrepreneurship and is the author of articles, papers and books on the subject. In addition to a video archive, "History of Entrepreneurship on Long Island," in which he interviews successful Long Island CEOs, Dr. Freeley conducted a national research study that resulted in an Entrepreneurial Style Profile questionnaire.

This profile is used to assist future entrepreneurs in analyzing their own characteristics and chances of success. He also is the author of a book titled, “Are You an Entrepreneur?” which discusses the 12 characteristics of a successful entrepreneur and outlines, in simple and practical terms, the steps necessary to start a business.

For more information, contact Dr. Freeley at (718) 263-4143.

Posted: February 27, 2007