2. – Topic
– Justify the choice
– Who is MyBnk?
– History
– Canvas business model of MyBnk
– Social Enterprise
– Social Innovation
– MyBnk’s strategies
Contents
1
2
3
MyBnk-Jennifer
4
3. – Topic
– Verify the choice
– Who is MyBnk?
– History
– Canvas business model of MyBnk
– Social Enterprise
– Social Innovation
– MyBnk’s strategies
Contents
1
5. Introduction – Justify the choice
Old Skool Café San Patrignano
Solar Sister Food Cycle
Gives women access to employment
Results from Internet
Pizzeria and home design to
horse shows and graphic
arts
Food, music and service
6. Introduction – Justify the choice
Old Skool Café San Patrignano
Solar Sister Food Cycle
MyBnk-Jennifer
8. – Who is MyBnk?
– History
– Canvas business model of MyBnk
Contents
2
9. Company overview – who is MyBnk?
MyBnk is a social enterprise that aims to
build young people's knowledge, skills and
confidence to manage their money
effectively and be more entrepreneurial
http://mybnk.org/
MyBnk-Jennifer
10. Company overview – who is MyBnk?
MyBnk are a social enterprise that aims to
build young people's knowledge, skills and
confidence to manage their money
effectively and be more entrepreneurial
http://mybnk.org/
To build young people´s knowledge, skills and conidence
to manage their money and make enterprising choices
throughout their lives
Sector – 85
education
Size- small
Location –
the UK
11. Company overview - history
The first thing I did was write a letter to ten people I knew, or didn’t
know but who I wanted to be involved because I thought they could
help,” she says. “I wrote and told them I had this crazy idea, and
it’s going to help young people deal with money and be
enterprising, and did they want to be involved? And they all wrote
back and said yes
MyBnk-Jennifer
13. The Business
Model Canvas
MyBnk Design by:
Jennifer
24032014
KEY PARTNERS
Secondary
schools,
Academies,
Further
Education,
Colleges,
Pupil Referral
Units,
Youth
organisations
Funders
KEY ACTIVITIES
Financial
Education
Programmes
Enterprise
Education
Programmes
VALUE
PROPOSITIONS
Always
learning and
adapting to stay
incredible
Being driven and
relentless in the
pursuit of our
mission
CUSTOMER
RELATIONSHIPS
Young people is the
heart
CUSTOMER
SEGMENTS
Young people 11-25
year olds in schools
and youth
organisations
CHANNELS
National and
international
branches
Website
Community
Social network
KEY RESOURCES
The team
Programmes
Funders
COST STRUCTURE
Educational activities
Governance cost
REVENUE STREAMS
Voluntary income
Activities for generating funds
Investment income
Educational activities MyBnk-Jennifer
15. The Business
Model Canvas
MyBnk Design by:
Jennifer
24032014
KEY PARTNERS
Secondary
schools,
Academies,
Further
Education,
Colleges,
Pupil Referral
Units,
Youth
organisations
Funders
KEY ACTIVITIES
Financial
Education
Programmes
Enterprise
Education
Programmes
VALUE
PROPOSITIONS
Always
learning and
adapting to stay
incredible
Being driven and
relentless in the
pursuit of our
mission
CUSTOMER
RELATIONSHIPS
Young people is the
heart
CUSTOMER
SEGMENTS
Young people 11-25
year olds in schools
and youth
organisations
CHANNELS
National and
international
branches
Website
Community
Social network
KEY RESOURCES
The team
Programmes
Funders
COST STRUCTURE
Educational activities
Governance cost
REVENUE STREAMS
Voluntary income
Activities for generating funds
Investment income
Educational activities MyBnk-Jennifer
18. The Business
Model Canvas
MyBnk Design by:
Jennifer
24032014
KEY PARTNERS
Secondary
schools,
Academies,
Further
Education,
Colleges,
Pupil Referral
Units,
Youth
organisations
Funders
KEY ACTIVITIES
Financial
Education
Programmes
Enterprise
Education
Programmes
VALUE
PROPOSITIONS
Always
learning and
adapting to stay
incredible
Being driven and
relentless in the
pursuit of our
mission
CUSTOMER
RELATIONSHIPS
Young people is the
heart
CUSTOMER
SEGMENTS
Young people 11-25
year olds in schools
and youth
organisations
CHANNELS
National and
international
branches
Website
Community
Social network
KEY RESOURCES
The team
Programmes
Funders
COST STRUCTURE
Educational activities
Governance cost
REVENUE STREAMS
Voluntary income
Activities for generating funds
Investment income
Educational activities MyBnk-Jennifer
19. Key value
Keep us
doing what we do
Always learning and
adapting to stay
incredible
Being transparent,
independent and
knowledgeable
Allowing young
people to make the right
decisions
for themselves
Pursuit of our mission
MyBnk-Jennifer
20. The Business
Model Canvas
MyBnk Design by:
Jennifer
24032014
KEY PARTNERS
Secondary
schools,
Academies,
Further
Education,
Colleges,
Pupil Referral
Units,
Youth
organisations
Funders
KEY ACTIVITIES
Financial
Education
Programmes
Enterprise
Education
Programmes
VALUE
PROPOSITIONS
Always
learning and
adapting to stay
incredible
Being driven and
relentless in the
pursuit of our
mission
CUSTOMER
RELATIONSHIPS
Young people is the
heart
CUSTOMER
Young people 11-25
year olds in schools
and youth
organisations
CHANNELS
National and
international
branches
Website
Community
Social network
KEY RESOURCES
The team
Programmes
Funders
COST STRUCTURE
Educational activities
Governance cost
REVENUE STREAMS
Voluntary income
Activities for generating funds
Investment income
Educational activities MyBnk-Jennifer
23. MyBnk and Social Innovation
Communication from the European Commission , 2011/682 final
MyBnk-Jennifer
24. Social innovation
Innovation is the multi-stage process whereby organizations transform ideas
into new/improved products, service or processes, in order to advance, compete
and differentiate themselves successfully in their marketplace
Baregheh A, Rowley J and Sambrook S.(2009) “Towards a multidisciplinary definition of
innovation”, Management decision, vol. 47, no. 8, pp. 1323‐1339
A Social innovation is a complex process of introducing new products, processes or
programs that profoundly change the basic routines, resource and authority flows, or
beliefs of the social system in which the innovation occurs. Such successful social
innovations have durability and broad impact
(FRANCES WESTLEY, PhD, The Innovation Journal:
The Public Sector Innovation Journal, Vol. 15(2), 2010, article 2)
Social innovations are new ideas (products, services and models) that
simultaneously meet social needs (more effectively than alternatives) and create new
social relationships or collaborations
(Book of Social Innovation, Murray, Calulier-Grice and Mulgan, March 2010,
Communication from the European Commission)
MyBnk-Jennifer
26. Social Entrepreneurship, Social enterprise, Social Innovation
Interorganizational
Organizational
Interpersonal
Individual
Social
innovation
Social
enterprise
Social
entrepreneuship
Inputs Enterprise Outputs
Social needs Social impacts
System
MyBnk-Jennifer
27. Mybnk is a Social Enterprise?
Need for Financial
Education
Financial skills for young
people
Sources: Barnardo’s, YouGov, Centre for Social Justice and Bradley Report
MyBnk-Jennifer
28. Mybnk is a Social Enterprise?
Need for Financial
Education
Financial skills for young
people
Need for Enterprise
Education
Financial knowledge to
compete in the job market
Sources: ONS, RBS Youth Enterprise Tracker and International Labour Org
MyBnk-Jennifer
29. Mybnk is a Social Enterprise?
To build young people´s knowledge, skills and
conidence to manage their money and make
enterprising choices throughout their lives
Main objective is
to have a social
impact
Managing Money
Enterprise
90%
90% can prioritise
their needs and
wants
18,880 young people
903 MyBnk financial education programmes
90%
90% feel confident in
making money decisions
MyBnk-Jennifer
30. Mybnk is a Social Enterprise?
To build young people´s knowledge, skills and
conidence to manage their money and make
enterprising choices throughout their lives
Main objective is
to have a social
impact
Managing Money
Enterprise
96%
96% Understand what a social
enterprise is
83%
83% would like to
set up their own
business in the
future
48 programmes
1141 people
MyBnk-Jennifer
32. Socially innovative approach?
Development
of new products
and services
Entry into previously
untapped markets
Socially
innovative
approach
A B
Attraction and
engagement of employees
and future talent
D
Differentiation
from competitors
C
Benefits
MyBnk-Jennifer
33. Strategies leads to social innovation
Social innovation
Higher impact on society
Cooperate with
pioneering
social
entrepreneurs
Build networks
within and
outside the
company
Secure
dedicated
spaces to
facilitate social
innovation
MyBnk-Jennifer
34. Strategies leads to social innovation
Social innovation
Higher impact on society
Cooperate with
pioneering social
entrepreneurs
MyBnk-Jennifer
ING Direct said Mybank share the culture of wanting
to contribute to society and achieve innovation
35. Strategies leads to social innovation
Social innovation
Higher impact on society
Build networks
within and
outside the
company
MyBnk-Jennifer
Dedicate to support local organizations: work with major social organizations
Ex: Work with Save and Children to provide consultancy services
36. Key resources
Deputy CEO
Education Director
Education Officers
Money Advice Service Officer
Education Project Manager
Training and Quality Manager
Partnership Manager
28 members
Founder & CEO
Expert trainers are experienced
teachers and youth workers who
are able to build rapport with young
people and respond to their changing needs
Youth Advisory Panel
Patrons & Trustees
MyBnk-Jennifer
40. Conclusion
Mybnk – lessons learned
My opinions:
All ages?
Distance learning?
MyBnk-Jennifer
41. Conclusion
MyBnk-Jennifer
“I’m encouraging young people to become social
business entrepreneurs and contribute to the world,
rather than just making money. Making money is no
fun. Contributing to and changing the world is a
lot more fun.” -Muhammad Yunus
42. Reference
Lecture of Prof. Josep Llach
MyBnk website
Social Innovation in Business Japan-UK Learning
Journey 2012
MyBnk-Jennifer
http://www.artsumo.com/blog/post/15It’s a free drug rehabilitation program that also has revenue-generating streams to support itself. The products and services range from a pizzeria and home design to horse shows and graphic artssuccessful restaurant can’t function on benevolence alone. It’s the good food, music and service that keeps customers coming backgives women access to employment while helping rid Uganda, Rwanda and Sudan of the dangerous and unhealthy kerosene lamps that are the main source of light in many rural households.merges volunteers, unused kitchen space and surplus food with people in the United Kingdom who are in need of a meal
http://www.artsumo.com/blog/post/15
http://www.artsumo.com/blog/post/15
Created a project that would allow young people in the UK to benefit from the same principlesMet Michael Norton OBE who hasstarted a wealth of youth led programmes
Communication from the Commission, 2011/682 final
Financial knowledge to life to have a successful route to long-term participation in the job market
Together with young people, we have created high impact and high energy financial and enterprise education programmes on topics such as saving and budgeting, survival money management, social enterprise and start up entrepreneurship. MyBnk have formed the first ever youth-led banking scheme MyBnk-in-a-Box, that allows young people to save and develop positive habits around money from a young age. We provide enterprise experiences by giving young people access to interest-free loans to set up their own enterprise in their local community.Young people are at the heart of everything we do, and we take a holistic approach to education, catering for audio, visual and kinesthetic learners. Our team is made up of teachers, youth workers and people who have worked in the financial sector. Since 2007, we have helped over 70,000 young people in more than 450 schools and youth organisations learn to manage money and start their own enterprises. Our programmes are now being replicated nationally and internationally
Together with young people, we have created high impact and high energy financial and enterprise education programmes on topics such as saving and budgeting, survival money management, social enterprise and start up entrepreneurship. MyBnk have formed the first ever youth-led banking scheme MyBnk-in-a-Box, that allows young people to save and develop positive habits around money from a young age. We provide enterprise experiences by giving young people access to interest-free loans to set up their own enterprise in their local community.Young people are at the heart of everything we do, and we take a holistic approach to education, catering for audio, visual and kinesthetic learners. Our team is made up of teachers, youth workers and people who have worked in the financial sector. Since 2007, we have helped over 70,000 young people in more than 450 schools and youth organisations learn to manage money and start their own enterprises. Our programmes are now being replicated nationally and internationally
1 Cooperate with pioneering social entrepreneursTo reach full partnership potential, private sector employees and social entrepreneurs should be encouraged to share their knowledge and communicate deeply with each other. As with the case of MyBnk, social enterprises can be innovative partners for meeting existing business needs. It was also pointed out that it was important to make sure the corporate culture and vision are a good match between organisations.2 Build networks within and outside the companyIt is crucial to have supportive internal networks and the commitment of senior management. In addition, an innovative ecosystem should be built around the company, involving social entrepreneurs and other catalysts for social innovation.3 Secure dedicated spaces to facilitate social innovationCorporations should establish or utilize unique innovation spaces to facilitate learning, co-creation and cooperation.
1 Cooperate with pioneering social entrepreneursTo reach full partnership potential, private sector employees and social entrepreneurs should be encouraged to share their knowledge and communicate deeply with each other. As with the case of MyBnk, social enterprises can be innovative partners for meeting existing business needs. It was also pointed out that it was important to make sure the corporate culture and vision are a good match between organisations.2 Build networks within and outside the companyIt is crucial to have supportive internal networks and the commitment of senior management. In addition, an innovative ecosystem should be built around the company, involving social entrepreneurs and other catalysts for social innovation.3 Secure dedicated spaces to facilitate social innovationCorporations should establish or utilize unique innovation spaces to facilitate learning, co-creation and cooperation.
1 Cooperate with pioneering social entrepreneursTo reach full partnership potential, private sector employees and social entrepreneurs should be encouraged to share their knowledge and communicate deeply with each other. As with the case of MyBnk, social enterprises can be innovative partners for meeting existing business needs. It was also pointed out that it was important to make sure the corporate culture and vision are a good match between organisations.2 Build networks within and outside the companyIt is crucial to have supportive internal networks and the commitment of senior management. In addition, an innovative ecosystem should be built around the company, involving social entrepreneurs and other catalysts for social innovation.3 Secure dedicated spaces to facilitate social innovationCorporations should establish or utilize unique innovation spaces to facilitate learning, co-creation and cooperation.