With just a few classes remaining till the end of this
semester, it becomes imperative to fill in the gaps still left in the social
venture concept. We were still brainstorming pieces of the business plan to
evaluate the one which would result in the most efficient outcome. There were
two options to take the venture forward. Option one entailed asking our
customers (Students) of the kind of project they wish to implement and then
select a village accordingly. Option two involved partnering with multinational
companies in implementing parts of their social responsibility programs
specifically directed to rural areas.
After studying similar business models and conducting
preliminary primary research we decided to go along with option two. This was
because we got favorable responses from people we interviewed at MNC’s who we
wanted to partner with. Henceforth, the final business plan is along the
following lines:
The business model continues after the fellowship has been
executed. The next steps include assessing social impact and gathering feedback
from the participants. We anticipate requirements such as submitting a final
report to our partnering organizations detailing activities and impact made by
the project. Thus these steps are also an important part of the business plan.
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