Social Entrepreneurship

 What is a Social Entrepreneurship?

“Social Entrepreneurship = Social Reform” Success is rooted in empowering others to effect change.

Social Entrepreneurship is the use of the techniques that start up companies and other entrepreneurs to develop , fund and implement solutions to social , cultural or environmental issues.

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.”

Focus Areas of Social Entrepreneurship

• Enhance a person’s ability to improve her or his economic well – being & personal dignity through opportunity. 
• Harness aid to be more accountable, transparent and solutions – oriented, for lasting development.
• Enable access to and ensure use of reliable, affordable and appropriate healthcare in disadvantage populations 
• Address issue of sustainable productivity not beneficiary by beneficiary , but system wide. 
• Lay the foundation for peace and human security. 
• Harness the capital and consumer markets that drive change by considering all costs and opportunities.

ROLE AND IMPORTANCE OF SOCIAL ENTREPRENEURSHIP

• Employment Development: The first major economic value that social entrepreneurship creates is the job and employment Estimates ranges from 1% to 7% of people employed in the social entrepreneurship sector.
• Innovation / New Goods & Services: Social Entrepreneurs develop and apply innovation important to social and economic development and develop new goods and services . Issues addressed include some of the biggest societal problems such as HIV, mental ill-health, illiteracy, crime and drug abuse which, importantly are confronted in innovative ways.
• Equity Promotion: Social Entrepreneurs fosters a more equitable society by addressing social issues and trying to achieve ongoing sustainable impact through their social mission rather than purely profit – maximization.

Functions of Social Entrepreneurship

• To create & maintain a stable level of employment
• Create jobs & provide support to socially vulnerable groups.
• Social Entrepreneurship promotes development of entrepreneurial skills.
• Compensating Countries narrow place

Qualities of Social Entrepreneurs

• Ambitious 
• Mission Driven
• Strategic 
• Resourceful 
• Result oriented

Problems Facing by Social Entrepreneur

• Funding
• Strategy and Long Term Focus
• Remaining True to the Mission
• Lack of skilled man force
• Social & Cultural Effect
• Lack of Government

Advantages of Social Enterprises

• Since Social enterprises do not work typically the way corporate setups or private firms work , they offer flexible working environment which is as per the liking of many people groups.
• Creates value for the society and some times generate income (if not wealth)
• As a thumb rule , the solutions they offer are supposed to be innovative , unique , people and environment friendly.

Disadvantages of Social Enterprises

• The risk of losing nonprofit status
•  Lack of support or funds.
• Possibility of poor reputation due to disaster

Conclusion

• Social entrepreneurship is an innovation and pragmatic vision to tackle the challenges of poverty, marginalization and other pressing social crises.
• “The most significant contribution of this ‘ success’ is the character of being a responsible corporate citizen
• This can only be achievable through a sincere and a committed effort for contributing towards the well – being of the community not by charity alone.
• It gives confidence that such innovative, scalable and sustainable social ventures are key levers and accelerators for transformational social change.

 Reach out Author @ Er Abdul Basit