Printer Friendly
The Free Library
23,416,916 articles and books


Latest lecture sets out power of social innovation.

Nick O'Donohoe, chief executive of Big Society Capital, gave a powerful lecture at the latest "Tomorrow's Value" event at leading City law firm Morrison Foerster recently.

[ILLUSTRATION OMITTED]

Big Society Capital will play a critical role in speeding up the growth of the social investment market, and so boost the ability of social enterprises, charities, voluntary and community organisations (collectively "the social sector") to deal with social issues. The organisation is being capitalised with up to [pounds sterling]400m from dormant Latent; inactive; silent. That which is dormant is not used, asserted, or enforced.

A dormant partner is a member of a partnership who has a financial interest yet is silent, in that he or she takes no control over the business.
 bank accounts. An additional [pounds sterling]200m will be provided by the four largest UK high street banks.

O'Donohoe said that the theories of market economics that have driven growth, employment, unprecedented technological progress and rampant globalisation over the past 30 years are being altered in a fundamental and far-reaching way; and that the model of market economics, based largely on self-interest, has neglected to deal with its own social consequences.

He argued instead for "a model that embraces the financial disciplines of market capitalism, but also provides opportunity and support for the vulnerable, the dispossessed dis·pos·sessed  
adj.
1. Deprived of possession.

2. Spiritually impoverished or alienated.



dis
 and the downright down·right  
adj.
1. Thoroughgoing; unequivocal: a downright lie.

2. Forthright; candid.

adv.
Thoroughly; absolutely.
 unfortunate ... harnessing the power of social innovation must be front and centre in the transformative process under way. We need to unleash a whole new wave of social entrepreneurs A social entrepreneur is an entrepreneur who works to increase social capital, often by founding humanitarian organizations. Historical examples of leading social entrepreneurs
  • Susan B. Anthony (U.S.
 and help existing models with proven impact grow to scale much more effectively."

PRESIDENTIAL ENGAGEMENTS

6-12 May Visit to Malaysia and Singapore

26 May N. Ireland CIMA Dinner and Awards
COPYRIGHT 2012 Chartered Institute of Management Accountants (CIMA)
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:The Institute
Publication:Financial Management (UK)
Date:May 1, 2012
Words:239
Previous Article:CIMA notifications.
Next Article:Council member required.
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters