Social Entrepreneurship in the Digital Age
~Om Patro
Technology, A catalyst for social change:-
Technology has permeated every aspect of our society. From the dawn of human civilization to the present day, technology has trickled into the very fabric of human existence to a point where it is impossible to conceive of a world bereft of it. From its nascence with the invention of the wheel to the digital revolution that has engulfed the world, technology has had an ineffaceable influence in the world that we are living in today. In this article, we will delve into the symbiotic relationship between technology and social entrepreneurship and how technology has aided in tackling societal issues.
Technology has played a prominent role in shaping the world for what it is today. With Its ubiquitous applications extending even in the seemingly disparate and remote spheres, one can stand to reason that the realm of social entrepreneurship has also not remained untouched by its novel developments. By harnessing the potential of technology to scale their endeavors, entrepreneurs can maximize their capacity to create social good and make a lasting difference in the world. In the present day, social entrepreneurs have done an immense amount of noble service which could not have been done without creating and leveraging technology.
e-Novation: Social Entrepreneurship in the Internet Era
With the advent of the internet, entrepreneurs have learnt how to scale their businesses, transcending geographical boundaries to reach a widespread audience and to connect with diverse stakeholders that have similar interests and goals. With unprecedented access to a plethora of online resources and social media tools, all at your fingertips, reaching out to potential customers has never been easier. Website builders, marketing and collaboration tools are some of the open-source tools that social entrepreneurs employ that aid in building and amplifying an online presence. E-commerce websites and social media accounts as juxtaposed to brick-and-mortar stores and traditional billboards, have proven to engage a broader customer base and be more cost-effective, eco-friendly, and sustainable; all of it while nurturing a noble cause.
Moreover, technology such as Cloud computing, data analytics, and automation tools streamlines a litany of manual operations while lessening the burden of mundane clerical work. This allows social enterprises to increase their productivity and enhance organizational efficiency, thereby enabling social entrepreneurs to retain their focus on their core mission and scaling their operations by getting rid of administrative complexities.
Additionally, technology has provided a much-needed fillip to fundraising for social enterprises. Crowdfunding platforms offer a decentralized approach to raise financial capital by accepting funds from a wide range of individuals. The transparency and security that blockchain technology provides have instilled trust among business owners and customers. An additional benefit of crowdfunding is that it can function as an advertisement that can help generate more buzz and public interest for the service provided, thereby leading to more sales and also helps in amplifying the cause.
Furthermore, technology aids in the quantification and visualization of data. Features such as data collection, analysis, and visualization tools help enable organizations to gather real-time insights on their outcomes and showcase their social and environmental impact to stakeholders. The transparency, accountability, and credibility provided by these platforms are crucial for attracting diverse stakeholders and angel investors that can help scale up operations.
The Success Story of M-KOPA : A Case Study
– M-KOPA is a fintech platform based in Kenya that helps underbanked customers from off-grid communities in East Africa. This social enterprise has developed its own unique pay-as-you-go solar energy system where with the help of mobile payment technology and a network of solar panels, customers are permitted to make payments in installments through mobile payment platforms such as M-PESA. Once the payments are completed,customers have the ownership of the solar system outright, thereby providing them with clean, reliable electricity for lighting, charging devices, powering small appliances, etc. This seamless integration of mobile technology has improved the affordability and accessibility of custom solar energy solutions.
M-KOPA utilizes embedded GSM (Global System for Mobile Communications) technology in their solar panels to remotely monitor system performance and troubleshoot issues. This real-time monitoring allows them to identify any technical problems and provides quick and reliable support to their customers. With this strategic use of technology, M-KOPA Solar has overcome multiple barriers in the energy sector and also provides energy to millions of households in East Africa.
