Season 242 Episode 8293
S1 E60 - Expert Says Social Enterprises Are Part of the Solution to Systemic Injustice - Jim Kucher
"University of Maryland, Baltimore Professor Jim Kucher Explains the History of Redlining and the Business Models That Address Social Injustice http://s4g.biz/05mar24 AI Episode Summary 1. Devin Thorpe introduces his guest, Jim Kucher, from the University of Maryland, Baltimore, highlighting Jim's expertise in social impact and entrepreneurship. 2. Jim describes the graduate certificate in social entrepreneurship he directs at the university, explaining that it's a 12-credit, one-year, fully online program designed for individuals with advanced degrees who need specific skills unique to social enterprise. 3. The graduate certificate covers innovation in social settings, product/service development considering community needs, and marketing strategies for different stakeholders, including constituents, funders, and product/service buyers. 4. Jim emphasizes the importance of understanding how to finance social enterprises, teaching students to blend and time various financing strategies to create sustainable ventures. 5. Devin and Jim discuss the SuperCrowdBaltimore event, where Jim's program will be formally introduced, and the benefits of social entrepreneurship in addressing issues with capitalism, such as income inequality and when profit is excessive. 6. Jim credits a colleague, Lawrence Brown, for research on racial wealth gaps in Baltimore and explains the adverse effects of historical redlining practices on black communities. 7. Acknowledging the social and economic disparities in Baltimore, Jim notes that the city presents an ideal environment for social innovation due to its educated population, quiet wealth, manageable size for building networks, and range of social problems to address. 8. Jim's superpower is identifying the practicality of good ideas, knowing which ones can realistically work, and understanding when to walk away from unfeasible ones, using his experience with the impact of 9/11 on capital markets as an example. 9. He advises aspiring entrepreneurs to do simple arithmetic, like profit and loss statements and balance sheets and cautions that pursuing entrepreneurship based solely on a passion for an art or craft might lead one away from the actual passion itself. 10. Jim provides his email (jkucher@umaryland.edu) and directs the audience to the University of Maryland, Baltimore website for more information on the social entrepreneurship program, mentioning the SuperCrowdBaltimore event and other upcoming events for interested individuals. http://superpowers4good.com "
