SOCIAL ENTREPRENEURSHIP- Entrepreneurship with a Social Outlook
Ever thought of an entrepreneurship with a social cause? Presenting to you “SOCIAL ENTREPRENEURSHIP “.
“What business entrepreneurs are to the economy, social entrepreneurs are to social change. They are the driven, creative individuals who question the status quo, exploit new opportunities, refuse to give up, and remake the world for the better.”
David Bornstein, Author
“How to Change the World: Social Entrepreneurs and the Power of New Idea”
Let us get started with the idea of social entrepreneurship but for that let us understand entrepreneurship first.
Entrepreneurship is the capacity and willingness to create, organise, and manage a business operation, including all of its uncertainties, in order to profit.
Let us start by discussing what social entrepreneurship really is ?
WHAT IS SOCIAL ENTREPRENEURSHIP?
Social entrepreneurship is a relatively new concept in the globe, but it has a broader perspective. It has a constructive attitude towards societal well-being and advancement through an entrepreneurial approach.
Social entrepreneurship is the process by which individuals, companies, and entrepreneurs create and fund solutions that directly solve social challenges. A social entrepreneur is someone who seeks for business opportunities that benefit their community, society, or the planet.While it is commonly confused with nonprofit organisations, social entrepreneurship is a for-profit venture, albeit with a higher emphasis on bringing about social or environmental profit.
To put Social Entrepreneurship in a single sentence, it is an Entrepreneurship with a Social Impact.
WHY, SOCIAL ENTREPRENEURSHIP?
Social Entrepreneurship
·Social change- Social enterprises work for a social change.The motto is both profit and a social impact for a social enterprise,which is usually not the case in other entrepreneurship styles.
·SDG –Sustainable development goals are often present in the missions and working of a social enterprise,which makes the world more aware about sustainability and 17 SDG’s .
·Increases the social value-In accordance with social change ,it aims towards literary improvements in underpriviledged regions and increased innovation in social updradation.
·Global market –The global entrepreneurship forum has a wide scope for social enterprises.It also opens the way for poor and unknown artists to prove their talents and they get a wider market
·Influence government policy-Changes for social welfare have been brought about via the movements and will power of social entrepreneurs.
·Unique Approaches for Societal Advancement -Social entrepreneurship is not solely based on the goal of making a profit.A purpose is the force that helps them achieve this . It also has a good effect. While producing commodities, social entrepreneurs aim to safeguard the environment or take meaningful activities to enhance the environment.
·Attract investors-Investors are rethinking their investment strategies, giving more attention to a company’s mission and vision, as well as its contribution to the world in addition to its value to its shareholders.
TYPES OF SOCIAL ENTREPRENEURS
- The Community Social Entrepreneur
This is a community based entrepreneurship style where the social requirements are met within a particular geographical area.
2. The Non-Profit Social Entrepreneur
Here the social entrepreneurs are prioritize social well-being over typical profit generation.
3. The Transformational Social Entrepreneur
These entrepreneurs are focused on creating a company that can satisfy social demands that governments and other corporations are unable to meet.
4. The Global Social Entrepreneur
These entrepreneurs want to totally transform social structures in order to satisfy large worldwide social demands. It is frequently where large corporations turn when they recognise their social responsibility and begin focusing on positive change rather than just profits.
This Entrepreneurship era has given birth and got inspired from multiple social entrepreneurships. Let us meet few of those talented Social Entrepreneurs who has shown the light towards the bigger social impact one can create.
FAMOUS SOCIAL ENTREPRENEURS
India’s gig economy is scaling newer heights thanks to the surge of innovative start-ups and young entrepreneurs who are changing the rules of how businesses functioned. These young achievers do not only dream to achieve big in life, but they also nurture their passion to resolve the social inequities gripping our country. India too is in much need of this new breed of Sociopreneurs to come out with unconventional business models to address environmental and social issues.Let’s have a look at the super talented social entrepreneurs who are bringing social entrepreneurship in a whole new way to us.
URVASHI SAHNI
When it comes to the finest social entrepreneurs in India, Urvashi Sahni is one of the names which appear in the top of the list. She is the founder and CEO of SHEF (Study Hall Education Foundation), an organisation that provides education to India’s most disadvantaged girls. Urvashi Sahni’s initiative has impacted the lives of 150,000 girls directly and 270,000 girls indirectly. In 2017, she was appropriately honoured with the ‘Social Entrepreneur Of The Year’ award for her altruistic gesture of dedication and passion.
HARISH HANDE
Harish Hande,founder and CEO of SELCO, a company that provides renewable energy to remote areas of the country. He received the Ramon Magsaysay Award in 2011 for “his pragmatic efforts to put solar power technology in the hands of the poor, via his social company.” This was India’s first rural solar finance initiative. Selco has contributed over 120,000 installations to date and operates over 25 retail and service centres in Karnataka alone.
SHARAD VIVEK SAGAR
Sharad Vivek Sagar is the founder of Dexterity Global, a social enterprise in India that provides opportunities for underprivileged youngsters. Sagar’s work focuses on developing long-term employment opportunities for the country’s poorest and most vulnerable residents.This 26-year-old social entrepreneur from Patna, Bihar, is on a quest to link youngsters in distant places with the finest prospects.Sharad thinks that the future generation of leaders if given the opportunity, they can transform the world.He is also featured in the FORBES 30 under 30 category.
SUNIL BHARTI MITTAL
Sunil Bharti Mittal is a well-known social entrepreneur in India. He is the chairman and founder of the Bharti Foundation, one of the country’s major charitable organisations.The Bharti Foundation seeks to improve India’s social conditions by offering education and medical help to those in most need.Additionally, they put a lot of effort towards developing sustainable enterprises that may support communities in India by producing jobs and a stable economy.
SANJIT “BUNKER” ROY
Sanjit “Bunker” Singh In comparison to many Indians who live on less than $1 per day, Roy enjoyed a luxurious upbringing in India. Roy had a life-changing event when he visited some of his country’s remote communities and resolved to find a solution to rectify his country’s social-economic disparities. In 1972, he founded Barefoot Institution, a solar-powered college for the poor. Roy was chosen as one of the world’s 100 most influential people by Time magazine in 2010, and The Guardian named him one of 50 environmentalists who could save the globe in 2008.
“Each time someone stands up for an ideal, or acts to improve the lot of others, or strikes out against injustice, he sends forth a tiny ripple of hope.”
-Robert F. Kennedy
Let us all come together to generate a ray of inspiration to not only ignite the passion of entrepreneurship era but also the zeal of social entrepreneurship!
