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Request: What is EY currently doing in the area of social entrepreneurship, what led

them to start awarding the “Entrepreneur of the Year” award?

INSIGHTS

- EY helps social entrepreneurs by providing business support program, business


coaching, workshops, and networking events.
- EY started its entrepreneurship award program with the aim of fostering
innovation, creativity, and information on entrepreneurship.
- JP Morgan is providing financial support to Detroit’s social start-ups and regular
businesses.

In this study, we found that EY helps social entrepreneurship by providing


entrepreneurs an insight on trusted business models and techniques, contacting with
other successful entrepreneurs, giving monetary influence, and giving aid regarding e-
commerce. JP Morgan provides model guidance and monetary support to local
entrepreneurs to improve the communities and markets in Michigan. Below is a detailed
explanation of our methodology and findings.

METHODOLOGY

We employed the following research strategies in this study:

We initially started the research by searching for relevant information regarding what
Ernst & Young (EY) is currently doing in social entrepreneurship, and what led them to
start awarding the “Entrepreneur of the Year” award from the official website of EY,
searching for the company’s social media profiles, and reviewing its affiliate sites.
However, we could not find publicly available information directly related to the study.

Next, we attempted to contact the managers of the award program, but we could not
find any public information available on what happened that led to start awarding the
entrepreneurship award program or why EY employs its program in helping social
entrepreneurship.

Lastly, we attempted to broaden our research strategy by searching for additional


information from different news sites such as Forbes and The New Yorker, affiliate sites
such as Ecosystems Knowledge Network, Anamilia, and Sahan Cares, and many more.
However, we could not find any public information available.

We conclude that the limited available information could be due to the absence of
publicly available current events that will help in this study. We also could not find the
social classes that EY’s programs directly impact. The company’s programs help social
entrepreneurship, who then help particular social classes. We only found social classes
that are directly helped by EY’s social entrepreneurship programs, and have funded the
programs.
ENTREPRENEURSHIP AWARD PROGRAM OF ERNST & YOUNG (EY)

EY started its entrepreneurship award program in 1986 to foster innovation, creativity,


and information on entrepreneurship, and to encourage and improve the entrepreneur
market. The company’s judges get an informative file on each of the countries’ winners,
and select the winner for the annual entrepreneurship award by discussing validity and
innovative techniques, including social outreach.

HOW EY HELPS SOCIAL ENTREPRENEURS

EY helps social entrepreneurs by:

1. Delivering a 12-month business support program called “Accelerate”. This business


support program directly relates to social entrepreneurship since it is meant for social
entrepreneurships and social enterprises. Accelerate is provided by EY to social
entrepreneurships because it aims to maintain sustainability in business practices,
innovation, and creativity in entrepreneurship markets.

2. Providing business coaching. This directly relates to social entrepreneurship since it


is meant for social entrepreneurs and social enterprises. Business coaching is provided
by EY to social entrepreneurships because it aims to maintain sustainability in business
practices, innovation, and creativity in entrepreneurship markets.

3. Providing workshops. These workshops directly relate to social entrepreneurship


because these are meant for social entrepreneurships and social enterprises.
Workshops are provided by EY to social entrepreneurships because it aims to maintain
sustainability in business practices, innovation, and creativity in entrepreneurship
markets.

4. Providing networking events. These networking events directly relate to social


entrepreneurships since these are meant for social entrepreneurships and social
enterprises. Networking events are provided by EY to social entrepreneurships because
it aims to maintain sustainability in business practices, innovation, and creativity in
entrepreneurship markets.

HOW EY AFFECTS DIFFERENT SOCIAL GROUPS

EY affects female social entrepreneurships by offering them an alternative for


informative reviews and critique, including monetary benefits.
It affects Southern Africa’s social dynamic by directly helping in its social
entrepreneurships. The company also affects low income earners by giving them
funding and informative insights.

HOW JP MORGAN HELPS DETROIT AND MICHIGAN


JP Morgan is supporting financially to Detroit’s social start-ups and regular businesses,
and is encouraging development in Michigan by providing support to selected
communities’ social entrepreneurships. The company also provided support to some
social food entrepreneurships in Detroit.