W06 Reflection

 

This wee we studied revenue generation, specifically the various ways an organization can raise capital or leverage assets to increase their capital. We learned that the best way to increase the scope of a social innovation is through a business mindset. This means having a sound financial plan, which includes accurate projected Income Statements,  Balance Sheets, and Statement of Cash Flows, and accurate forecasting. We learned about external (conventional finance, social investors, grants and contracts) and internal (leveraging accounts payable, accounts receivable, assets) capital options, and crowd sourcing, and the pros and cons of each. 

The reading this week was one of my least anticipated material, as I struggle with financial concepts and numbers due to dyscalculia. However one thing that caught my attention was in the instructions for this week's application assignment. The voiceover stated that "it is pleasant to talk about helping others and changing the world, but talking about things like money, capital, and profit often prompt critique or negative feedback." This is something I felt when I started this class; that philanthropy and finances shouldn't be considered in the same importance. I've learned that in order to realize one's philanthropic endeavors, one simply must also consider how to fund those endeavors, or the philanthropic efforts will be entirely in vain. 

• Does money buy happiness? Can money change the world? Explain.

Money can't buy happiness, but it can buy a lot of things that contribute to ease, comfort, safety, security, progress, education, and a host of other things that contribute to a person's happiness. When we leverage money for these causes for groups of people or communities, we can begin to change the world for those people, who ma go on to build and advance others. This, I feel, is changing the world.