In social entrepreneurship, it is essential to understand and leverage various forms of capital to achieve sustainable and impactful outcomes. Using the lesson “Different types of capitals”, that BlockTree learnt from the SBC103: “Principles of Social Business Execution” course as a foundation, this paper aims to explore different types of capital encountered in social business and have a view of BlockTree with: financial capital, human capital, social capital, intellectual capital, and economic capital.
As mentioned in the lesson, human capital encompasses the skills, knowledge, experiences, and capabilities of individuals involved in social businesses. It includes the founders, employees, volunteers, and stakeholders who contribute their expertise and efforts to achieve the organization’s goals. In today’s knowledge-based economy, organizations recognize the critical role of human capital in driving innovation, productivity, and overall performance.
The current team at BlockTree is a talented and dedicated group of 14 individuals, including 1 project leader and other 4 departments in charge of different functions:
- Product department: 1 Product Manager, 1 Product Designer, 1 Back-end Developer, 1 Front-end Developer, and 1 Mobile Developer.
- Partnership department: 1 Partnership Manager, 1 Partnership Intern
- Marketing department: 1 Marketing Manager, 3 Marketing Intern, 1 design and video editor.
- Operations department: 1 Operations Manager.
Despite our humble beginnings and only two years of operation, BlockTree is proud to have a complete and committed team. Each member of the team is a good fit for the business idea because we have the skills and expertise necessary to develop and implement the platform. We also have a deep understanding of the afforestation industry and the challenges that need to be addressed.
The team’s passion for the mission of the company is also a good fit for the business idea. We believe that our passion will attract users and partners, and it will also help the company to stay motivated in the face of challenges.
BlockTree has built a strategy on improving the team profile when necessary, starting by understanding the current team profile. We identify our strengths and weaknesses, the skills and experience that are lacking, then decide which areas where improvement is needed.
- Set clear goals for improvement.
- Identify the resources that are needed: this could include training, development, or mentoring opportunities.
- Implement the plan: this might provide training and development opportunities, mentoring team members, and creating a positive work environment.
- Monitor the progress
- Make adjustments as needed: changing the goals, the resources, or the implementation plan if needed.
We, as a team striving for the positive impact on the environment, are committed to achieving consensus on all major decisions. This is important for a social business because it ensures that everyone is on the same page and that the company is moving in the same direction. We has developed a number of strategies for achieving and sustaining consensus, including:
- Regular communication: We communicate regularly with each other, both formally and informally. This helps to ensure that everyone is aware of the latest developments and that everyone has a chance to contribute their ideas.
- Respectful disagreement: We are respectful of each other’s opinions and be open to new perspectives even when there is disagreement. This helps to create a positive and productive environment where everyone feels comfortable sharing their ideas.
- Decision-making process: We have a clear decision-making process that is followed in all major decisions, which helps to ensure that decisions are made in a fair and transparent way.
We have developed a number of mechanisms in place to facilitate the process of identifying and solving problems quickly, including:
- Use a system that allows for fast learning, such as machine learning algorithms. Machine learning algorithms can be used to identify patterns and trends in data. We believe this model will assist us in identifying problems quickly and developing solutions.
- Use a voting system for fast consensus. A voting system allows individuals to vote on solutions. The solution that receives the most votes is the one that is implemented.
- Regular problem-solving meetings: We hold regular problem-solving meetings to discuss any issues that have arisen.
- Open communication: A culture of open communication is nurtured since the establishment of BlockTree provides everyone an opportunity to raise issues comfortably.
- A focus on learning: We are aware of the importance of continuous learning and knowledge sharing between team members. When it comes to learning from our own mistakes, we review our problems and identify ways to improve their processes.
At present, with a view to expand our scope of impact, we are planning to find people who share the same values with our team to establish clear requirements of the skills and experience that are needed; use a variety of recruiting channels, such as online job boards, social media, and word-of-mouth; provide training and development opportunities to develop the skills and experience to be successful in the role; create a positive work environment to attract and retain top talent.
Social capital refers to the relationships, networks, and connections that social businesses cultivate within communities and stakeholders. It involves building trust, collaborations, and partnerships to create a positive impact.
The business network of BlockTree is still in its early stages, but it is growing rapidly. The team has already established relationships with a number of key partners, including:
- Cardano platform: The Cardano platform is a leading blockchain platform that is committed to sustainability. BlockTree is working with Cardano to develop a blockchain-based solution for afforestation.
- Catalyst: Catalyst is a funding program that supports projects that are working to solve real-world problems. BlockTree is a recipient of a Catalyst grant, which will help to fund the development of the BlockTree platform.
- Ben Tre Provincial Youth Union and Ben Tre Province Department of Agriculture and Rural Development: a local organization that is committed to environmental protection. BlockTree is working with the Ben Tre Provincial Youth Union to raise awareness of the importance of afforestation and to implement reforestation projects.
These are just a few of the key partners that BlockTree has established relationships with. Our team is confident that the business network will continue to grow as the company grows.
The key partners of BlockTree are all high-quality organizations that are committed to sustainability. The Cardano platform is a leading blockchain platform that is well-respected in the industry. Catalyst is a well-funded funding program that has a proven track record of success. The Ben Tre Provincial Youth Union is a well-established organization with a strong track record of community engagement.
These key partners are essential to the success of BlockTree. They provide the company with the resources and expertise that it needs to develop and implement the platform. They also help to raise awareness of the importance of afforestation and to build support for the company’s mission.
BlockTree has already acquired real commitment from its key partners. The Cardano platform has committed to providing technical support for the development of the platform. Catalyst has committed to providing funding for the development of the platform. The Ben Tre Provincial Youth Union has committed to providing support for the implementation of reforestation projects.This real commitment from key partners is essential to the success of BlockTree. It ensures that the company has the resources and support that it needs to achieve its goals.
BlockTree is committed to recruiting partners with the right resources and capabilities to implement the social business. We are looking for partners who are committed to sustainability, who have the resources to support the company, and who have the expertise to help the company succeed.
The team has already had success in recruiting partners with the right resources and capabilities. The Cardano platform, Catalyst, and the Ben Tre Provincial Youth Unionare all examples of partners that have the right resources and capabilities to help BlockTree succeed.
Support received from your stakeholders (e.g., endorsement, reference, mentorship, etc. that are meaningful for the development of the social business)
In today’s knowledge-based economy, intellectual capital has become a crucial asset for businesses, playing a pivotal role in their competitiveness and long-term prosperity. It encompasses intangible resources, knowledge, and capabilities that lend companies a distinct advantage and drive innovation, growth, and value creation. Intellectual capital refers to an organization’s intangible assets and knowledge base, which are instrumental in generating value, spurring innovation, and maintaining competitiveness. It encompasses a company’s collective wisdom, expertise, relationships, and intellectual property, differentiating it from its counterparts.
The BlockTree trademark is currently well-protected. It has been registered with the USPTO and is protected for a period of 20 years. The trademark is also valuable, with a current value of 1 million USD. The BlockTree trademark can contribute to the business’ competitive advantage in a number of ways. First, it can help to build brand recognition and loyalty. When customers see the BlockTree logo, they will be more likely to associate it with the company’s products and services. This can lead to increased sales and market share.
Second, the BlockTree trademark can be used to protect against counterfeiting and infringement. If a competitor tries to copy the BlockTree logo, the company can take legal action to stop them. This will help to protect the company’s brand and its reputation.
Overall, the BlockTree trademark is a valuable asset that can help the company to build its competitive advantage. The company should continue to protect the trademark and explore opportunities to license and commercialize it.
Green Network and WeForest are two organizations that have made outstanding and significant contributions to the field of sustainable development.
- Green Network is a non-profit organization that is using blockchain technology to help with environmental conservation in Vietnam. The organization has developed a platform that allows people to track their carbon emissions and offset their emissions by supporting environmental projects.
- WeForest is an international organization that is using blockchain technology to help with reforestation projects around the world. The organization has planted over 10 million trees in Vietnam using blockchain technology.
BlockTree has a quite high level of human capital and high structural capital. Due to the fact that BlockTree has a strong team of experienced professionals and we have invested in developing our processes and systems. However, BlockTree’s customer capital is relatively low. It is because BlockTree is still relatively new and we have not yet had time to build strong relationships with its customers.
Green Network and WeForest have a lower level of human capital than BlockTree. However, they have a higher level of customer capital. This is likely because both organizations have been operating for longer than BlockTree and that they have had more time to build relationships with their customers.
Overall, BlockTree has a strong level of intellectual capital, one way to improve our customer capital is by focusing on building stronger relationships with its customers.