Social entrepreneurship is about applying practical, innovative and sustainable approaches to benefit society in general, with an emphasis on those who are marginalized and poor.
In the s, scholars and practitioners have debated which individuals or organizations can be considered to be social entrepreneurs. Thus far, there has been no firm consensus on the definition of social entrepreneurship, as so many different fields, disciplines and organization types are associated with social entrepreneurship, ranging from for-profit businesses to hybrid models combining charitable work with business activities, to non-profit charities, voluntary sector organizations and non-governmental organizations.
Philanthropists, social activists, environmentalists, and other socially-oriented practitioners are often referred to as social entrepreneurs. Social entrepreneurs can include a range of career types and professional backgrounds, ranging from social work and community development to entrepreneurship and environmental science.
For this reason, it is difficult to determine who is a social entrepreneur. David Bornstein has even used the term "social innovator" interchangeably with social entrepreneur, due to the creative, non-traditional strategies that many social entrepreneurs use.
Others have extended this to include contracted work for public authorities, while still others include grants and donations. Social entrepreneurship in modern society offers an altruistic form of entrepreneurship that focuses on the benefits that society may reap.
Social entrepreneurs recognize immediate social problems, but also seek to understand the broader context of an issue that crosses disciplines, fields, and theories. Unlike traditional corporate businesses, social entrepreneurship ventures focus on maximizing gains in social satisfaction, rather than maximizing profit gains.
Prominent individuals associated with social entrepreneurship include Pakistani Akhter Hameed Khan and Bangladeshi Muhammad Yunusa leader of social entrepreneurship in South Asia. Yunus was the founder of Grameen Bankwhich pioneered the concept of microcredit for supporting innovators in multiple developing countries in Asia, Africa, and Latin America.
Others, such as former Indianapolis mayor Stephen Goldsmith addressed social efforts on a local level by using the private sector to provide city services.
Drayton tells his employees to look for four qualities: Social entrepreneurs are creative enough to have a vision of what they want to happen and how to make that vision happen. They argue that these men and women seek profit in social output where others would not expect profit.
They also ignore evidence suggesting that their enterprises will fail and attempt to measure results which no one is equipped to measure. Entrepreneurs have high standards, particularly in relation to their own organization's efforts and in response to the communities with which they engage.
Data, both quantitative and qualitative, are their key tools, guiding continuous feedback and improvement. Entrepreneurial quality builds from creativity.
Not only do entrepreneurs have an idea that they must implemented, they know how to implement it and are realistic in the vision of implementing it.
Drayton says that, "Entrepreneurs have in their heads the vision of how society will be different when their idea is at work, and they can't stop until that idea is not only at work in one place, but is at work across the whole society.
Besides this, entrepreneurs are not happy with the status quo; they want healthy change. If an idea has intrinsic worth, once implemented it will cause change even without the charismatic leadership of the first entrepreneur.Ashoka has pioneered the field of social entrepreneurship, identifying and supporting the world’s leading social entrepreneurs since Social entrepreneurs are individuals with innovative solutions to society’s most pressing social, cultural, and environmental challenges.
They are ambitious and persistent — tackling major issues and offering new ideas for systems-level change. Aristizábal is the founder and president of Buena Nota, an organization that informs, engages and connects Colombians around social problems and their solutions. Social entrepreneurship is driven not so much by profit as by societal needs that the entrepreneur has identified and is passionate about.
Nov 15, · Social entrepreneurs are people who harness the power of market forces and business principles to solve social problems, from poor health-care to unemployment. Meet this year's awardees. Social Entrepreneurship: The Case for Definition Social entrepreneurship is attracting growing amounts of talent, money, and attention.
But along with its increasing popularity has come less certainty about what exactly a social entrepreneur is and does. Lou Dubois is a Philadelphia-based Social Media Editor for NBC Universal's local news affiliate (WCAU-TV). He is an experienced writer, editor and marketer who has worked with and written about.