What is social entrepreneurship and top successful social entrepreneurship example
What is social entrepreneurship and top successful social entrepreneurship example
There are lots of talks about social entrepreneurship these days. But what is social entrepreneurship? What is social entrepreneur? How they are working and some of the best social entrepreneur examples we read in this article
Social entrepreneurship is nothing but the entrepreneur who is working for betterment of community and society on pressing or key problem. They are solving these problems in very unique way or model that hasn’t applied yet. Their main aim is to impact in social rather than profit making.
Social entrepreneur is not unique concept but after the rise of social media (2010), and now it increases day by day. Many social entrepreneurs connected together through internet and it has reduced the boundary barrier for them. Problem solving and collaboration became easy after that and this will lead increase in number of social entrepreneur.
What is social entrepreneur?
Social entrepreneur are the visionary change agent, thinker and disrupter who is working for betterment of society and for the problem which is faced by the society. They bring positive change in society by their efforts and initiative. Social entrepreneur’s idea and creativity can change the social problem and brings disruptive change in society.
These problems are many and diverse in nature. This problem solving idea is not for the local area but for betterment of society and human race.
These problems can be poverty alleviation, education, health, environment, quality of life and many…
Social entrepreneurs are the pioneer who initiates the idea or solution for the existing social problem and which is faced by the society. They are resolving this issue and problem with bunch of similar interested people. They generally try to gather right people in team and then go for the problem solving by taking actions and spreading awareness in society.
Social entrepreneur main aim is to convince society for the issues and problem. They give different perspective to society to think on different dimension and direction. Thus they are the change agent in society to bring about positive change in society and world.
How do these social entrepreneurs function?
Social entrepreneur first identify the problem which is faced by the society. Either they faced it directly or they find out while working or studying it. Then they analyse these social issues and problems. They try to find the real problem and do research, analysis and survey on it. After this they come up with the solution and they start working on it.
These solutions are design in such a way that can bring positive change in life of people, their mindset and in their attitude towards problem.
After that they bring people who have similar interest and ready to work on it. They also collaborate with various other institutions, government agency, volunteers, NGO, social worker, leaders, venture capitalist and other social entrepreneurs. This way they can expand their network and work.
This is continuous process as it has idea development to feedback and assessment in it. These changes are come after some time. It will not come easily in society.
After some time they become leader, role model, inspiration and motivator for the many upcoming social entrepreneurs.
Challenges faced by social entrepreneur
Social entrepreneur are facing many challenges. They are the visionary person and they have vision for their aim and society. Investors and people are not able to see their vision and its impact in future, thus they are facing problem in idea rejection from people and government.
Less investor are ready to invest in their project as they are not able to see its impact or has less return on investment.
Employees in social entrepreneurship area are less compensated. They have less salary or earning as compare to lucrative corporate house or the entrepreneur.
Resources and passionate people are less available for the social entrepreneurship project at initial stage.
It’s time taking process as it as various stages are involved from ideas generation to assessment.
Difference between entrepreneur and social entrepreneur
Usual entrepreneur metrics is based on the revenue generation and profit making, while social entrepreneurs believe in impact of community.
Entrepreneurs are more capitalist. Social entrepreneurs are less capitalist.
Entrepreneur runs for profit and sales. Social entrepreneurs are not run for by profit generally work at breakeven point.
Entrepreneur gives High salary to their staff and employee, social entrepreneurs provide less salary to employee as compare to other sector.
Entrepreneur gets decent funding from venture capitalist. Social entrepreneur model are generally get less funding as it is less profitable.
Quality and Characteristics of Social Entrepreneurship
Social entrepreneurs are creative, they are solving problem with the vision and mission and for that they are using creative approach to solve problem. They try to resolve these problems by changing the system of working and mind set of people.
They have entrepreneur mind set and work according to that style. They see the things beyond the usual people can’t see and come up with innovative idea to solve the problem. They find solution from problem and work on it.
Social impact of the idea:
Their main aim is impact on society. They are run towards improvement of society and it’s their main goal.
They try to convince the society as a whole to think on different dimensions and directions. Social entrepreneurs develop simple comprehensible ideas which people can understand and use for the betterment and development of the society. By doing this they are making impact on people, society and world.
They are attached with the ethics and that satisfied their mind over money.
Example of social entrepreneur
There are so many successful social entrepreneurs all around the world. Here is the list of successful entrepreneur.
Mahatama Gandhi is the one who come first in this list. But why Gandhi?
Social entrepreneurs are those who solve big or old problem of society. Gandhiji is certainly fit into this definition. He believed in growing local cottage industry like Khadi, being self reliant on various resources and development of community own enterprises. He also worked in the field of women empowerment and abolition of salt tax.
Thus he can be seen as change agent, social transformation and self sustaining local community’s icon in world.
Dr. Verghese Kurien:
Verghese Kurien is known as the ‘Father of the White Revolution’ in India, Milkman of India. He was Co-founder, ‘Amul’ and Founder – NDDB (National Dairy Development Board) & IRMA (Institute of Rural Management, Anand)
He made India the world’s largest milk producer from a milk-deficient nation.
He also made India self-sufficient in edible oils.
Award he received:
World Food Prize (1989)
Padma Vibhushan (1999)
Padma Bhushan (1966)
Padma Shri (1965)
Ramon Magsaysay Award (1964)
You cannot ignore this name Muhammad Yunus in the list of social entrepreneurs.
He is the founder of Grameen Bank, an institution that provides microcredit loans to those in need to help them develop financial self-sufficiency.
Grameen Bank was founded in 1983 and the bank has brought in a net income of more than $10 million. He got Nobel Prize in 2006 for his work.
Bill Drayton isn’t just a great example of a social entrepreneur, he actually helped to define and promote the term itself.
Drayton is the founder of Ashoka: Innovators for the Public, an organization that is working on finding and helping social entrepreneurs around the world. Drayton spreads out his knowledge and expertise of social entrepreneurship in other organizations as well, working as a chairman at Community Greens, Youth Venture, and Get America Working! in addition to his duties at Ashoka.
As of 2010, Ashoka Foundation has sponsored 2,145 fellows in 73 countries, some of which have gone on to develop leading social businesses that have made a huge impact on communities around the world.
Blake Mycoskie founded TOMS in 2006 after a visit to Argentina where he found many children get injured or sick because they do not have shoes to wear.
To combat this problem, he created TOMS, which donates 1 pair of shoes to needy people for every pair that’s bought from them. So far, TOMS has donated more than a million pairs of shoes.
In 2011, they have launched another initiative which aims to give away a pair of glasses or sight-saving surgery for every pair of sunglasses or glasses sold.
Sam Pitroda :
Satyanarayan Gangaram Pitroda known as Sam Pitroda. He has worked in area of telecom and information technology. He is commonly reffered as “father of India’s Communication revolution”. He was the technology advisor during tenure of Prime Minister Rajiv Gandhi (1980). During that time telecom revolution in India had happened.
He founded National Innovation Council and currently he is the driving force behind it, the council aim is driving innovation in the country, by adopting the principles of inclusive growth.
Some of the interesting initiatives that Sam Pitroda (council) is the setting up of a Rs 5,000 crore venture fund for social ventures, the open government data drive and the Planning Commission organized hackathons.
The Rs 5,000 crore India Inclusive Innovation Fund plans to invest in social enterprises that are driving innovation at addressing problems at the bottom of the pyramid (BoP). Pitroda believes that the data.gov.in (open government data) initiative will help tap the power of the developer community to build apps that will be helpful in different sectors like education, healthcare and government social welfare schemes.
Lack of clean drinking water is sadly big problem for society and world. Something that millions of people (or may be billion) worldwide face this problem every day.
After a moment of clarity in Liberia, club promoter Scott Harrison decided to make it his mission to change that, heading up the non-profit organization charity: water. Since it began, the charity has delivered clean drinking water to more than a million people in 17 different countries around the world.
We hope this article gave insight on Social entrepreneurship and examples of social entrepreneur inspire you in your life.