Oh' Vietnam-Entrepreneurship In Action!
Through the lens of "Economics of Mutuality" by Mars Catalyst , a new perspective for Entrepreneurs (both startups and large corporations) and Consultants (experts as well as beginners) in Emerging Markets such as Vietnam
You can click here to watch a short video that captures the overall impact of this Bootcamp experience!
The leadership Team of the 2nd Impact Consulting Bootcamp of 2019
I was graciously invited by Professor Hyun S. Shin of Hanyang University (5th to the right of the picture above) as a mentor in the Second Impact Consulting Bootcamp in Hanoi, the Capital of Vietnam organized by Hanyang University in collaboration with Foreign Trade University, VietnamPost, and Asia Foundation held last summer.
Through this program, I was able to meet Mr. Cedric Bachellerie (third from the right in the picture above), Program Director of Mars Catalyst and learn about the fascinating concept Economics of Mutuality. This concept was applied through out the Bootcamp.
Catalyst is Mars, Incorporated's internal think-tank. For more than five decades, Mars has invested in Catalyst, a distinctive thought leadership capability composed of highly skilled, diverse Mars Associates with unique access to experts. Catalyst takes creative risks to conceptualize, develop and pilot breakthrough business solutions to position Mars in the thought leadership space. Catalyst’s work has been recognized as cutting edge by scientific and business communities and continues to be a source of competitive advantage for Mars Catalyst.
The concept of "Economics of Mutuality" stipulates that we have to state our purpose first of the casual effects of the problem before building up a solution to address that problem.
"Simply put we re-defines the notion of profit-making through the premise of the 3-Ps (shared Financial Capital at its core)"
In a essence, it redefines the whole paradigms of how we think companies should think about their bottom line as shown in the graphs below:
The most important takeaway is that the putting "Purpose First" in designing or re-designing your business model (the 20th Century approach versus the 21st Century Approach)
I think this concept will be essential to new business models especially in emerging markets as entrepreneurs in these economies build their businesses. At Jamani Ventures Academy, we hope we can apply this concept to support the entrepreneurs that we provide consultation services to.
I want to continue to develop more content this year by traveling and interviewing more people in Asia and Africa. For Asia, this includes Vietnam (I have been there before but I have to do more intensive research), Singapore, Japan, Indonesia, Malaysia, and China. For Africa, the countries that I plan this world adventure will include Ghana, Nigeria, South Africa, and Rwanda.
I hope you’ll join me on this journey. I will also appreciate if you can also support this journey so that I can be able to share more exciting content with you with a specific focus on the growth of Africa (the last frontier of the Global Market).
Looking forward to sharing more content with you. Please subscribe to this blog for more exciting short stories and updates on Jamani
One of the ways, we want to support these entrepreneurs, some of which we have already sourced is by starting a $1 million Fund to invest in them by the end of the second quarter this year. This will help provide the funding some of the companies need to grow across Africa while providing jobs and internal wealth within the continent.