Reference no: EM131234824

Write a 150-word response (agreeing or disagreeing) with the following prompt:

Rags2Riches is a very interesting social enterprise. The most interesting pat about this enterprise is that the workforce that make this company are women from the society of the Philippines, and I say interesting because they do not look like business women but they are really making an impact in their society with their product which in fact makes them entrepreneurs and business women. Rags2Riches is looking at SROI we have to identify the different components of this company or organization. I have to say that the main component of this organization will be the women also, they are the main workforce of this enterprise but at the same time they are stakeholders. I think that in this case it is a bit simple to see that the social impact of Rag2Riches is gargantuan. We were able to see that the social impact allows them to reach different communities within the Philippines, but also to reach the market at a status of “high end fashion”. The SROI can help us figure out that what areas of business are not working properly or need improvement, for example they were able to see that the amount paid for one rug was not one peso, and that the same rug could be sold for at least 25 pesos. They were able to see that they were changing the community by allowing these women to make more profit for their work. Another way to bolster their change in the market was by looking for partners in this case the fashion designers who were key to the growth of this business not only because of the ideas that that they brought to the table but because they were able to introduce their product in the fashion industry.