Resumen: En un contexto de búsqueda de oportunidades de inversión, la impresión inicial que sobre un emprendedor se forme un inversionista influye de manera directa en su propio proceso decisional. En ese sentido, el presente trabajo busca estudiar las implicaciones que subyacen a este panorama inicial, puntualmente en un escenario de decisiones de inversión sobre iniciativas que apuestan por el desarrollo sostenible (i.e., inversiones de impacto). Para ello, haciendo uso de un caso de estudio, se despliega un proceso de análisis cualitativo que permite identificar las especificidades del estilo de liderazgo de un emprendedor de impacto determinado, así como la forma en que este mismo estilo podría afectar la eventual decisión de un potencial inversionista. En ese orden de ideas, el presente trabajo contribuye a la transferibilidad y profundización del tópico en cuestión, en diversas áreas del conocimiento. Abstract: In a context of seeking investment opportunities, the initial impression that an investor forms on an entrepreneur influences their own decision-making process. In this sense, the present work seeks to study the implications underlying this initial panorama, specifically in a scenario of investment decisions on initiatives that are committed to reach a sustainable development (i.e., impact investments). For this purpose, and using a case study, a qualitative analysis process is deployed, allowing the identification of the corresponding leadership style of a given impact entrepreneur, as well as the way in which this same style could affect the eventual decision of a potential investor. In that order of ideas, the present work contributes to the transferability and deepening of the topic at issue in various areas of knowledge.

Abstract: This dissertation explores the role that social enterprises can play in transforming the economy. The overemphasis on economic goals has undermined social and environmental objectives, causing many of the crises we face today. To address this situation, this paper brings together the bodies of literature on the circular economy, ecological economics and local economic development to provide strategies, proposals and insights for achieving such transformation, while analysing the definition of social enterprises and using the policies of economic restructuring as a framework to conclude that the role of social enterprises is to demonstrate that it is possible to reconcile these three dimensions into sustainable, attractive and profitable business models, and to inspire other actors in the economy to apply these sustainable practices and approaches until their widespread adoption becomes the new industry standard. Resumen: Esta disertación explora el papel que pueden desempeñar las empresas sociales en la transformación de la economía. El énfasis excesivo en los objetivos económicos ha socavado los objetivos sociales y medioambientales, causando muchas de las crisis a las que nos enfrentamos hoy en día. Para hacer frente a esta situación, este trabajo reúne la literatura sobre la economía circular, la economía ecológica y el desarrollo económico local con el fin de proporcionar estrategias, propuestas y puntos de vista para lograr dicha transformación, al tiempo que analiza la definición de las empresas sociales y utiliza las políticas de reestructuración económica como marco para concluir que el papel de las empresas sociales es demostrar que es posible conciliar estas tres dimensiones en modelos de negocio sostenibles, atractivos y rentables, e inspirar a otros actores de la economía para aplicar estas prácticas y enfoques sostenibles hasta que su adopción generalizada se convierta en el nuevo estándar de la industria.

Abstract: In recent years, breweries have had to adapt the way they use resources and manage the by-products of the production chain, such as organic and packaging waste. Likewise, they’ve needed to find a way to respond to the environmental pressures of the beer industry, such as energy and water usage as well as resource depletion. Several alternatives have been proposed to face these environmental burdens, one example is the application of Circular Economy principles in the production process. This research focuses on the supply chain-related challenges that small craft breweries face when they use circular or alternative raw materials in their production chain. This research seeks to understand the circular supply chain in the brewing industry by analysing three small European breweries. Data collection consisted of multiple sources, among which were interviews. The main goal is to identify the challenges faced by the companies that switched their production methods leaning toward circularity and to find a possible way to address them. The challenges will be analysed following the Circular Business Model and the Circular Supply Chain Theoretical Approaches. The contribution of this project is in terms of management decision-making for a circular supply chain in small businesses in the food industry.

Abstract: The Pulp Fruit Imports and commercialization from Colombia to Spain Business Plan is a project that aims to support the solution of 3 main challenges in Colombia (Organic food waste, Ex-warriors from peace accords signature returning to society trough farming opportunities and life quality improvement to current farmers) while needs from Spanish consumers are satisfied. This last ones, after the pandemic, increased their awareness of consuming responsibly, which means protect their health and the environment at the same time the want enjoy a convenient and natural drink to join their meals and that allows them to continue with their life rhythm. For that reason, Amazonas Eco offers a range of exotic fruits that are transformed into pulp fruit through a local strategic partner with Bio certifications, then transported to Spain to be sold through the customer's preferred channels. This business plan includes a bibliographical study that uses Colombian and Spanish available data from different authorities combined with a filed work survey conducted to Spanish consumers that was used afterwards to develop case of study of Marketing Analysis using Statistical tools such as Multiple regression and Conjoint Analysis. These both supported to define main market trends, STEEP and Porter Analysis and marketing strategy (Segmentation, Price, Placement and Promotion). Furthermore interviews were done to a current exported and producer of pulp fruit from Colombia and to and Spanish expert profesor in logistics, these last interviews supported to define business model, Operational model and Financial forecasts. The principal market trends are explained into 3 main categories: 1. Sourcing: Exports from Colombia to the EU in organic food grew from 2019 to 2020 by 35% (European Commission) meaning almost 28.000 additional tons per year. 2. Consumption: the imports of Spain for the frozen fruit market have an average annual growth between 2012 and 2016 of 7,5% jumping from 219.000 MUSD to 291.000 MUSD in those years. (Zambrano Achi and Pozo Burgos). 3. SOM: Initially Amazonas Eco will focus in Cataluña, therefore the market size is given by the population size and the average price and consumption of nectars and fresh juices and soft drinks. Combined the total expected market size would be 75 MEUR (“Últimos datos de consumo alimentario”). After defining a reachable scope in a SOM and Colombia's production capacity the company expects sales of 100 tons/year with an income of 1.2 MEUR. The Operational model is build under 3 main pillars: Farmers, Pulp fruit producer in Colombia, then imports to Spain followed by storage in a warehouse and distributed through a third part logistics service provider reaching Organic markets (preferred channel of main segment) and consumers. Financial model is done by identifying needed assets and operational expenses using marketing analysis to defined expected sales and required inventory. With this financial statements are build for 3 years followed by Net present Value exercise and break even point. This company will request 390,000 EUR of equity. According to the assumptions the NPV of the project is positive therefore, it is decided to go forward with it. The IRR is 15% meaning that NPV will be negative when the cost of capital is higher than this. Break Even point is reachable at 75.500 kg in one year keeping the cost structure. Statement of financial positioning, comprehensive income statement and cash flow statement are built under a conservative model with the assumptions given above where an organic growth is expected for this business holding positive income and cash flow since year 1.

Abstract: The rapid and ongoing process of urbanisation in Bogota has brought about significant socio-spatial segregation between city-dwellers. Such segregation is becoming increasingly complex as patterns of fragmentation are evolving towards a more ‘cellular’ differentiation between rich and poor –urban segregation which changes in terms of scale: from macro (neighbourhoods) to micro scales (blocks, streets). Urban segregation has been associated as a barrier for disadvantaged communities, especially when it becomes an intensifier of inequalities. Unequal access to services, availability of local employment, urban facilities, opportunities and supportive social relationships are examples of how segregation affects the distribution of quality of life, undermines attempts for social inclusion and, ultimately, creates unjust geographies. Alongside this context, public policy and measurements of quality of life have frequently overlooked spatial contexts of inequalities since a utility-based definition of well-being is often taken for granted. With the city of Bogota as a testing ground, this thesis analyses how and to what extent new patterns of urban segregation affect the distribution of capabilities and quality of life among young adults. Based on a capability place-based approach to wellbeing, this research will attempt to conceptualise urban quality of life, look at how patterns of urban segregation affect urban functionings, and quantify to what extent microsegregation explains differentials in capability achievement of quality of life among young adults in Bogota.

This paper explores the transformations and continuities of the development landscape through the story of Comproagro, a local initiative created by a rural family in Colombia. By using an ethnographic approach, I learnt about the different realities of this technology - based initiative, and how each one of them speak of new ways of doing development. I found that, in the digital space at the national level, Comproagro is best known for its online plat- form. However, the app reality challenges the notion of ICT4D as a key vector of local development because in ground bases, access and use of information technology is a luxury that only a few can afford. In the material space of Comproagro, the initiative is better known as a social enterprise which promotes women’s employment and fair working conditions for local women in Toca. The app and the social enterprise represent dramatically different modalities of development and constitute the two tails of Comproagro. Finally, I conclude that small initiatives like the one driven by the family in Comproagro challenges the idea of a broken development, to claim that instead it has changed through new actors, sites and relations that shape what I called, the new modalities of development.

There is a recognized call for universal provision of healthcare in modern societies. Access to needed and quality healthcare services at any time, irrespective of payment capacity, are unquestionable claims. Nevertheless, the way by which societies achieve universal healthcare is a more contended topic. Literature about it agrees that there is not a unique way to attain universal healthcare. While some say that any institutional structure can produce universal outcomes, others consider that the more integrated the system, the more possibilities to obtain universal outcomes. This study supports the last idea and seeks to understand the effects that institutional reforms -meant to transform fragmented healthcare systems into more integrated ones- can have on fostering more universal healthcare outcomes. An institutional analysis approach as well as an exploratory inductive stance to quantitative analysis were used as methods to answer the following questions: Has the Colombian Healthcare System accomplished its primary purposes of full coverage and equal service provision? What effects have brought the institutional reforms to the system in terms of access, entitlements, and funding management? Does the initial structure (although reformed) affect the outcomes of the system? Analysis of the institutional features of the healthcare system and its reforms revealed that, currently, it is more unified (at least theoretically speaking). Equal and generous entitlements are now legally established; there have been implemented reforms regarding access, which have allowed the expansion of the coverage throughout the inclusion of populations previously excluded from the system, and, finally, the administration of the health care sources has been centralized progressively. However, the evidence is shown on how insurers’ mismanagement and misuse of healthcare resources and rent-seeking practices have increased services prices, indebtedness and bankruptcy of some insurers and providers. Therefore, the study concludes that although the institutional reforms implemented during the last 10 years have made the healthcare system more integrated, it is unlikely that patients from all over the country receive equal needed and quality services in a system of commercial provisioning and commoditized pricing because it is encouraging its actors to seek profit instead of providing high-quality services, thus making it more difficult to leave up to the true purpose of the system. Resumen: En las sociedades modernas, es ampliamente reconocida la necesidad de proveer atención médica universal. El acceso a los servicios de atención médica necesarios y de calidad en cualquier momento, independientemente de la capacidad de pago, son reclamos incuestionables. Sin embargo, la forma en que las sociedades logran la asistencia universal en salud es un tema discutido. La literatura al respecto concuerda en que no existe una sola forma de lograr la atención médica universal. Mientras que algunos dicen que cualquier estructura institucional puede producir resultados universales, otros consideran que cuanto más integrado sea el sistema, más posibilidades hay de obtener resultados en términos de universalidad. Este estudio apoya la última idea y busca además comprender los efectos que las reformas institucionales -destinadas a transformar los sistemas de salud fragmentados en sistemas más integrados- pueden tener cuando se trata de obtener servicios de salud universales. Se utilizó un método de análisis institucional, así como un enfoque inductivo exploratorio para el análisis cuantitativo como método para responder a las siguientes preguntas: ¿Ha logrado el Sistema de Salud Colombiano sus propósitos primarios de cobertura total e igual prestación de servicios? ¿Qué efectos han traído las reformas institucionales al sistema en términos de acceso, derechos y gestión de fondos? ¿La estructura inicial (aunque reformada) afecta los resultados del sistema? El análisis de las características institucionales del sistema de salud y sus reformas revelaron que actualmente está más unificado (al menos en teoría). La igualdad y generosidad en las prestaciones ahora están legalmente establecidos; se han implementado reformas en materia de acceso que han permitido ampliar la cobertura a través de la inclusión de poblaciones previamente excluidas del sistema. Finalmente, la administración de las fuentes de atención de salud se ha centralizado progresivamente. Sin embargo, la evidencia presentada muestra que la mala gestión de las aseguradoras, el mal uso de los recursos de atención médica, y las prácticas de búsqueda de rentas, han resultado en un aumento en el precio de los servicios, el endeudamiento y la bancarrota de algunas aseguradoras y proveedores. Por lo tanto, el estudio concluye que aunque las reformas institucionales implementadas durante los últimos 10 años han hecho que el sistema de atención médica esté más integrado, es poco probable que los pacientes de todo el país reciban los mismos servicios necesarios y de calidad en un sistema de competencia regulada ya que éste promueve la búsqueda de ganancias en lugar de proporcionar servicios de alta calidad, por lo que es menos posible que cumpla el verdadero propósito del sistema.

The purpose of the research is to identify how property attributes influence the income generated by properties listed in online marketplaces like Airbnb, aiming to explain what features are the most significant to provide income from a short-term lease strategy. Using a hedonic approach the study measures the effects of physical, locational, and reputation signals on the revenue generated by listing properties. The study uses a dataset of 6,028 properties in Medellin, Colombia as of 30 January 2019. The study provides evidence that intrinsic attributes, such as physical features and location, are the primary factor of influence on the Annual Revenue in a short-term lease strategy, with the type of accommodation the largest contributor to Income. Entire properties have a higher impact on the annual income in comparison with private rooms in shared properties, reflecting that the functionality as accommodation, like a hotel, are a valuable source to generate income in a short-term lease strategy. Apartments generate more income on average that houses, since they are usually located with the most desirable residential areas. Bedrooms, bathrooms and capacity are as expected, positively influencing the Annual Income. Location also influences Annual Income, being the proximity to the Night Life Cluster more relevant than the closeness to the Financial District Centre, reflecting that listing properties are more appreciated for tourist accommodation than as business accommodation. Quality and reputational signals, especially overall review, influences annual income, indicating the importance of reputation especially in first guests. Finally, the effects of competition in annual income are not significant. This analysis is useful for investors to identify the type of properties that generates higher revenues on Airbnb, and for hotels, competing with Airbnb properties, to understand what type private properties are more profitable in a short-term lease strategy. Resumen: El propósito de la investigación es identificar cómo los atributos de las propiedades influyen en el ingreso generado por estas en mercados en línea, como Airbnb, con el objetivo de explicar qué características son más significativas para la generación de ingresos en una estrategia de arrendamiento a corto plazo. Usando un método hedónico, el estudio mide los efectos de características físicas, ubicación, señales de reputación y competencia en los ingresos generados. El estudio utiliza una base de datos de 6,028 propiedades en Medellín, Colombia, al 30 de enero de 2019. El estudio proporciona evidencia de que los atributos intrínsecos, como son las características físicas y la ubicación, son el principal factor de influencia en los ingresos, siendo el tipo de alojamiento el mayor contribuyente. Los alojamientos completos tienen un mayor impacto en el ingreso anual en comparación con las habitaciones privadas, lo que refleja que la funcionalidad de alojamiento, tipo hotel, como fuente significativa en la generación ingresos. Los apartamentos generan más ingresos en promedio que las casas, ya que generalmente se ubican con las áreas residenciales más deseables. Un mayor número habitaciones, baños y capacidad influye positivamente en los ingresos anuales. La proximidad al mayor centro de vida nocturna es más relevante que la cercanía al distrito financiero, lo que refleja que las propiedades son más apreciadas para el alojamiento turístico que para el alojamiento de negocios. Las señales de calidad y reputación, especialmente la revisión general, influyen positivamente en los ingresos anuales, lo que indica la importancia de la reputación, especialmente en los clientes que utilizan por primera vez el servicio. Este análisis es útil para que los inversores identifiquen el tipo de propiedades que generan mayores ingresos en Airbnb, y para los hoteles que compiten con las propiedades en Airbnb, para comprender qué tipo de propiedades son más rentables en una estrategia de arrendamiento a corto plazo.

Background: Rapid population ageing in Latin America will increase the demand for health services in older adults. Nevertheless, a healthy ageing can only be achieved if there is equitable access to healthcare, determined by need and not by other socioeconomic or demographic factors. In Colombia, there is the risk that the large increase in health coverage in the last 25 years, by establishing a social health insurance with two insurance regimes (contributive and subsidized), has not been followed by effective access, which will affect elders as well. Objective: To identify the determinants of healthcare utilization and unmet needs among Colombian elders. Methodology: The 2015 SABE (Health, well-being and ageing) population survey was analyzed applying the Andersen behavioral model of healthcare utilization. The study sample was 23,694 adults above 60 years old. Binary logistic regression analyses were executed to test the factors predicting the use of outpatient, inpatient and preventive services and the presence of unmet needs in the participants. Results: 97.8% of elders had health insurance. Access to healthcare for Colombian elders was inequitable as it was explained not only by health needs but also by enabling factors. Multimorbidity was positively associated with every model of healthcare utilization, while living in urban areas and having contributive health insurance increased the odds of accessing a health related consultation in the last 4 months and being screened for cancer. Hospitalizations were not predicted by the type of health insurance. Conclusion: Colombian elders cannot benefit from universal health coverage if they are not able to get effective access to healthcare when in need. The government should address the access barriers for rural elders and for those with subsidized insurance by improving the availability of health resources in distant areas, especially primary healthcare, and effectively regulating the service delivery across the insurance providers. Improving health literacy and awareness of the health rights for elders could also help them to navigate the health system and seek care when needed. Resumen. Antecedentes: el rápido envejecimiento de la población en América Latina aumentará la demanda de servicios de salud en los adultos mayores. Sin embargo, un envejecimiento saludable solo se puede lograr si hay un acceso equitativo a la atención médica, determinado por la necesidad y no por otros factores socioeconómicos o demográficos. En Colombia, existe el riesgo de que el gran aumento de la cobertura de salud en los últimos 25 años, al establecer un seguro social de salud con dos regímenes de seguro (contributivo y subsidiado), no haya sido seguido por un acceso efectivo, el cual también afectará a los ancianos. Objetivo: identificar los determinantes de la utilización de la atención médica y las necesidades insatisfechas entre los ancianos colombianos. Metodología: se analizó la encuesta SABE (Salud, bienestar y envejecimiento) 2015 aplicando el modelo conductual de Andersen de utilización de la atención médica. La muestra del estudio fue de 23,694 adultos mayores de 60 años. Se realizaron análisis de regresión logística binaria para evaluar los factores que predicen el uso de servicios ambulatorios, hospitalarios y preventivos y la presencia de necesidades insatisfechas en los participantes. Resultados: 97.8% de los ancianos tenían seguro de salud. El acceso a la atención médica para los ancianos colombianos era desigual, ya que se explicaba no solo por las necesidades de salud sino también por factores habilitadores. La multimorbilidad se asoció positivamente con todos los modelos de utilización de la atención médica, mientras que vivir en áreas urbanas y tener un seguro de salud contributivo aumentó las probabilidades de acceder a una consulta relacionada con la salud en los últimos 4 meses y ser examinado para detectar cáncer. Las hospitalizaciones no fueron predichas por el tipo de seguro de salud. Conclusión: los ancianos colombianos no pueden beneficiarse de la cobertura universal de salud si no pueden obtener un acceso efectivo a la atención médica cuando lo necesitan. El gobierno debe abordar las barreras de acceso para los ancianos rurales y para aquellos con seguro subsidiado mejorando la disponibilidad de recursos de salud en áreas distantes, especialmente atención primaria de salud, regulando efectivamente la prestación de servicios a través de los proveedores de seguros. Mejorar la alfabetización en salud y la conciencia de los derechos de salud en los ancianos también podría ayudarlos a navegar por el sistema de salud y buscar atención cuando sea necesario.

Abstract: The adequate provision of service delivery is essential for social welfare; however, providers performance varies, tending to underperform in developing countries. Therefore, whether providers responsiveness is sensitive to citizen oversight remains a relevant question for public governance. To this extent, Understanding the dynamics of accountability as a strategy to foster access, quality, and affordability of services delivery is vital to ensure development. This thesis establishes a quantitative assessment of the relationship between accountability and development. First, I systematically reviewed the empirical literature evaluating how accountability interventions affect service delivery in developing countries between 1990-2020, finding twenty-one papers from nine developing countries. Then, I conducted a meta-analysis based on an RVE model with over 90 outcomes to quantitatively synthesise the effectiveness of accountability in triggering citizen oversight of service delivery and providers responsiveness. The findings suggest that although accountability increases citizen knowledge of civic and political means to demand service delivery reforms, factors such as context, accountability structure and interventions length influence its effectiveness. While the results provide evidence to inform policy-making about aspects that effectively ignite citizen participation, they also suggest future research avenues to further conceptualise this relationship in an era of widely accessible information and new approaches to democracy.