The answer to this all-important question can be analyzed via the outcomes of several initiatives culminating into both social reforms and needed social awareness. Social entrepreneurship ignites appropriate embers that help in sustaining the fires of ongoing reformations in the lives of countless members of our societies. There are many avenues that can yet be exploited, with world-saving innovative solutions to improve the living conditions of both the underprivileged and the privileged.
What is Social Entrepreneurship?
The definition of social entrepreneurship may be predominately understood as an organization that is associated with social work or one that is recognized as a non-profit organization. Although this form of definition is not totally wrong, it should be understood that every organization needs to be financially viable, to sustain various financial conditions and circumstances. Hence a social enterprise should have a well-defined strategy to bring in revenue either in the form of earned income or charitable donations.
So, a straightforward definition of social entrepreneurship is when both business and entrepreneurial abilities are availed to generate innovative methods and systems to provide solutions for major social problems experienced within our society. The names and titles that may be given to such initiatives or programs may differ from one geographical location to the other. Such as -social entrepreneurship, microenterprise or even social missions, while the objective more or less remains the same.
Penetration into Mainstream Education to Facilitate Global Adoption
Many countries around the globe have begun inculcating into their educational curriculum this essential need to instruct students on how they could positively support a social enterprise. For example, in the year 1993, the Harvard Business School began a program on social entrepreneurship with the sole idea of stimulating and resourcefully providing knowledge to assist both individuals as well as business to create a social value in the society, either in the private sector or in the public sectors. Today, the method of administering such education is simplified in approach, one could even choose to use the web to learn and be educated on social enterprise.
Involvement of the Youth a Key to Success
With the youth, get them when they are young. While in its core, social entrepreneur facilitates community-focused services, it is a fascinating opportunity for the young to be involved, learn and understand the various social challenges that prevail within the society they live and will grow up in. Larger the exposure to social entrepreneurship and its services provided with the youth, the higher the chances of some of these taking up the cause themselves in the years to follow. This both results in better societies, as well as the change the world, so desires.
Responsibilities Owned by Corporates
Corporates often paint the picture of ‘no investment, if there are no returns’. At the same time, there is a huge area of social responsibility that corporates also carry. Let’s look at some ways that corporates bear the burden of being a social entrepreneur. When organizations forgo the revenue gains that they would from a standard procedure to enhance humanitarian causes this can be called as corporate social entrepreneurship.
Corporate social entrepreneurship would have different areas of reasons for acceptance and involvement in social causes. If the organization as a whole, finds the cause acceptable then it may go forward with the agenda. There could also be situations when an organization takes up social entrepreneurship to benefit both itself and the stakeholders. In an even diverse circumstance, the organization would pursue social programs depending on what goes along with the culture of the corporate, the majority of the team’s interests, as well as its long-term goals.
The life and death of corporate social entrepreneurship often depend upon how the government supports and encourages these companies and industries. Social challenges that disturb an organization’s profits, could be a strong reason for companies to support and run social programs that benefit a larger mass.
Examples of Social Entrepreneurs
The below examples do not really suggest that the world is already saved. However, it does portray a picture of a better and brighter tomorrow. Individuals listed below have lead the way in social entrepreneurship. Some have financially contributed towards direct growth of a social enterprise.
- Maria Montessori: Worked at the approach for early child education, also called the Montessori.
- Florence Nightingale: established the first school for nursing and worked on enhancing hospital conditions
- Dr Verghese Kurian: Established the NDDB and other societies, well know as the father of India milk revolution
- Bill Gates and Melinda Gates: The largest private foundation to enhance healthcare and reduce poverty globally.
- Warren Buffet: Notably vowed 99% of his wealth to be donated for social causes and social enterprises.
This is a short list of some important names that make up a constellation social entrepreneur. The most encouraging aspect of all is the fact that the list of social entrepreneurs consistently grows as the years go by. Promising a global means of salvation for all parts of the society.
