News Bank of America Awards $1 Million to Social Enterprise Initiative
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he Bank of America Charitable Foundation has awarded Georgetown University’s McDonough School of Business $1 million to sponsor the school’s new Global Social Enterprise Initiative (GSEI). Spearheaded by Bill Novelli, a pioneer of social marketing and professor of the practice at Georgetown’s McDonough School of Business, the GSEI is designed as an innovative cross-sector initiative to prepare global leaders to create economic and social value. Among its goals, the GSEI will advance research, teaching, outreach,
and creative problem solving, as well as convene corporations, nonprofits, government, and other stakeholders to advance the understanding of social enterprise. “Big social problems require partnerships; no single sector or organization can solve them alone,” says Novelli. “Georgetown and Bank of America will work together and bring in others from around the country and the world to tackle job creation and promote a stronger economy.” “Bank of America recognizes that we have a tre-
mendous opportunity and responsibility to advance the discussion around economic development and job creation, both critical issues facing our communities,” says Kerry Sullivan, president, Bank of America Charitable Foundation. “Partnerships with leading academic institutions like Georgetown University make this possible.” “This partnership with Bank of America is a great example of applying business techniques to address social problems,” says George Daly, dean of Georgetown’s
McDonough School of Business. “We are very pleased to be engaging our students and faculty in this important endeavor.” As part of the partnership with Bank of America, the GSEI will offer an annual symposium to generate ideas for public policy and business practices to yield increased public-private partnerships, employment, and global economic stability. In addition, faculty at Georgetown’s McDonough School of Business will conduct research to further thought leadership. The first symposium is being planned for fall 2011.
Visiting the Oracle of Omaha
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group of 20 Georgetown MBA students (below) traveled to Omaha, Neb., to visit the legendary Warren Buffett, CEO of
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Berkshire Hathaway, on Feb. 18, 2011. The students toured two of Berkshire’s businesses, Nebraska Furniture Mart and
Borsheims jewelers, and had a Q&A session at Berkshire’s main office and lunch with Buffett at Piccolo Pete’s, an
Omaha steakhouse. The group was impressed by Buffett’s insight, as well as his ability to respond to every question with a humorous anecdote.