Role of Social Entrepreneurship Towards Sustainable Development

  • Published on
    19-Nov-2014

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ROLE OF SOCIAL ENTREPRENEURSHIP TOWARDS SUSTAINABLE DEVELOPMENTINTRODUCTION: Entrepreneurship is an innovative, highly-motivated, and critical thinking process. When these attributes are combined with the drive to solve social problems, a Social Entrepreneurship is born. Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for future generations. Therefore social entrepreneurship towards sustainable development is Practicing social entrepreneurship by meeting the needs of the present generation without compromising the ability of future generations to meet their own needs.

Social entrepreneurs have something in common with business entrepreneurs, but there are some significant differences between these two groups. Their dreams, visions and missions are different; their methods can also be different. The social entrepreneurs measure their success primarily in terms of social value creation, rather than profit.

India is a country characterized by diversity, paradoxes, contrasts and contradictions. This country occupies a high position as an exporter of software of the world, but extremely low position in terms of human development index (HDI) assigned by the United Nations Development Program (UNDP). Today about 300 million Indians are not able to meet even their basic subsistence needs. The alarming rate of environmental degradation is another cause of serious concern. In particular, the poor people in rural areas are the worst victims of environmental degradation and social injustices. As an example, a large number of desperate farmers have committed suicide in the last two years. Thus there is an obvious need for pursuing sustainable development approaches in India.

A good example of social entrepreneurship in India is TATA groups by various schemes such as free education, development of local communities and also looking at the welfare of the employees which in turn leads to the sustainable development. Successive generations of Tata Group leaders have always held the belief that no success in material terms is worthwhile unless it serves the interest of the nation and is achieved by fair and honest means.

CONCLUSION: Thus the social entrepreneurship measure its success primarily in terms of social value creation, rather than profit. And entrepreneurship along with the sustainable development leads to the social welfare of the people in both present as well as future generations.

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