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, N.Y. – 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 have been divided into two groups and will work on a major project for C.G. & D. Alcoholism and Addiction Services Inc., a rehabilitation center in Amityville, N.Y. that offers outpatient care -- particularly for those who may face jail time. The first group of students will be analyzing the corporation’s business plan and suggesting recommendations that will make the current operation more efficient from a business perspective. The second group is helping to design a new not-for-profit component of the organization that will seek to provide early intervention for those individuals who are at risk for substance abuse.

“I’m enthusiastic about the idea that M.B.A. students are giving back to society by assisting a social change agency with helping the mentally ill substance abuser,” said Louis McClean, president and CEO of C.G.&D.

“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.”

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. Yunus’ new book, “Creating a World Without Poverty,” was released in 2007 and outlines his vision for a business model that largely includes social entrepreneurship.

“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.

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 Jim Freeley at (718) 263-4143.

Posted: March 7, 2008