Social Entrepreneurship

Entrepreneurs are people who venture into new areas primarily with intent of making profit out of the same. Of course they are socially responsible and have the obligation of contributing to the well being of the society in which they operate; but this obligation is secondary. In social entrepreneurship this obligation of contribution to social well being is primary and in a way profit takes a back seat or is more or less secondary but essential to the survival!

SOCIAL ENTREPRENEURSHIP: Social entrepreneurship is all about recognizing the social problems and achieving a social change by employing entrepreneurial principles, processes and operations. It is  about making a research to completely define a particular social problem and then organizing, creating and managing a social venture to attain the desired change. The change may or may not include a thorough elimination of a social problem. It may be a lifetime process focusing on the improvement of the existing circumstances.

Along with social problems, social entrepreneurship also focuses on environmental problems. Child Rights foundations, plants for treatment of waste products and women empowerment foundations are few examples of social ventures. Social entrepreneurs can be those individuals who are associated with non-profit and non-government organizations that raise funds through community events and activities.

SOCIAL ENTREPRENEUR: A social entrepreneur is somebody who takes up a pressing social problem and meets it with an innovative or path breaking solution. Since profit making is a secondary objective, therefore they are people who are passionate and determined about what they do. They possess a very high level of motivation and are visionaries who aim at bringing about a change in the way things are.

Social entrepreneurs operate with an aim of changing the face of society. Be it health, sanitation, education, they are present everywhere. There are people who work on bringing about change in the modern innovations because their impact has been detrimental to human life. They thus work towards improving systems, creating new solutions, laying down fair practices.

The world has witnessed great positive changes in the entrepreneurial field in the last five years. The number of initiatives have expanded at an unbelievably high rate and the countries individually as well have shown amazing results. The picture below shows the percentage wise distribution of the countries towards the global social entrepreneurship. 

When we talk about social entrepreneurship and India, the numbers have a lot to say because there’s a significant chunk of entrepreneurs taking up this great step towards humanity and nature. This pictorial graph here shows the sector wise growth of social enterprises in India.

SOME GREAT EXAMPLES OF SOCIAL ENTREPRENEURSHIP: Some social entrepreneurs use their know-how and business savvy to make the world a better place. They combined traditional business models with an important social mission in ways that can help to make significant changes in places around the world for decades.

  • Muhammad Yunus – Yunus has quite literally written the book on social entrepreneurship, sharing his expertise in microfinance and social capitalism through a number of books. Yunus is the founder of the Grameen Bank, an institution that provides microcredit loans to those in need to help them develop financial self-sufficiency. Founded in 1983, the bank has brought in a net income of more than $10 million, and his work with the organization landed Yunus a Nobel Prize in 2006.
  • Shiza Shahid- Shiza Shahid is the co-founder and global ambassador of the Malala Fund. She manages the business operations for Malala Yousafzai, the teenager who became the youngest winner of the Nobel Peace Prize in 2014. Like Malala, Shahid was born in Pakistan. She initially reached out to Malala in 2009 and worked to organize a camp for her and other Pakistani girls. In 2012, Shiza flew to Malala’s bedside after she was targeted and shot by the Taliban for promoting education for girls.

Inspired by Malala’s desire to continue campaigning for gender equality and education, Shahid decided to help Malala strategize her campaign. Soon after, the Stanford University grad lead the creation of the Malala Fund, which helps empower women and girls, by advocating and spreading access to education.

  • Bunker Roy- The Indian social activist and entrepreneur Sanjit “Bunker” Roy has helped thousands of people in Asia and Africa to learn vital technical skills and bring solar power to some remote villages. He founded the Barefoot College, an organization which specializes in teaching illiterate women from poor communities on how to become doctors, engineers and architects.

What’s more impressive is that each of the college campuses are solar powered and often built and designed by former students.In founding the college, his goal wasn’t to make a profit for himself but to help improve the economic production and quality of life of women throughout his native India. Some aspects of the project have spread to Africa as well. With women leading and running most of the Barefoot College’s operations, it’s clear that he’s been pretty successful in achieving that goal. Social entrepreneurs use business to generate both profit and solve some of the world’s most daunting social issues. Social entrepreneurship is the road less traveled, but is one of the paths that can lead to the building of hybrid businesses with “triple-bottom lines.” In this post, we shared 8 successful social entrepreneurship

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