ENTREPRENEURSHIP MANAGEMENT

Social Entrepreneurship

What is Social Entrepreneurship?Social entrepreneurs are individuals with innovative solutions to societys most pressing social problems. A social entrepreneur recognizes a social problem and uses entrepreneurial principles to organize, create and manage a venture to achieve social change.While a business entrepreneur typically measures performance in profit and return, a social entrepreneur focuses on creating social capital. Thus, the main aim of social entrepreneurship is to further social and environmental goals. However, social entrepreneurs are most commonly associated with the voluntary and not-for-profit sectors, but this need not preclude making a profit. Social entrepreneurship practiced with a world view or international context is called international social entrepreneurship.

We believe that social entrepreneurs are those exceptional individuals who dream up and take responsibility for an innovative and untested idea for positive social change, and usher that idea from dream to reality. What enables social entrepreneurs to make lasting impact on the most difficult problems is a special combination of groundbreaking creativity and steadfast execution. Although the terms are relatively new, social entrepreneurs and social entrepreneurship can be found throughout history.

Social EntrepreneurshipSocial entrepreneurs are not content just to give fish or teach how to fish. They will not rest untill they have revolutionize the fishing industry.They help communities to build up social capital which gives them a better chance of standing on their own two feet.They help bringing about social change on a major scale.They are agents of social change. Questioning the status quo, grabbing new yet overlooked opportunities, not for personal gain but for social gain.They, in a way, change the world for better.Making up for shortcomings of Govt. and bureaucracy.Identify under utilised resources/ Social problems.

Social EntrepreneurshipThey generally create flat and flexible organisations, with a core of full-time paid staff, who work with few resources but a culture of creativity.Their organisations have an open and porous approach to their environment. They do not see themselves as providing their clients with a specific service; their aim is to form long-term relationships with their users that develop over time.While business entrepreneurs aim to generate profits, social entrepreneurs aim to improve social values. They aim to make broad-based, long term changes, instead of few immediate small-time results.They recognize when a section of the society is stuck and offer innovative ways to break out of its stagnant state.They propagate the solution and persuade the whole society to adopt it.

Creating Providers from Takers

Characteristics of Social EntrepreneurBurning Desire / PassionSelfless approachGoal orientation CommitmentAchievement motivation (N-Ach factor)Creativity & InnovationDynamismLeadershipTeam buildingProblem solvingRisk taking & Decision making

IMPORTANCE:Social entrepreneurship sector is increasingly important for economic and social development because it creates social and economic values:Employment Development The first major economic value that social entrepreneurship creates is the most obvious one because it is shared with entrepreneurs and businesses alike: job and employment creation. Estimates ranges from one to seven percent of people employed in the social entrepreneurship sector. Secondly, social enterprises provide employment opportunities and job training to segments of society at an employment disadvantage (long-term unemployed, disabled, homeless, at-risk youth and gender-discriminated women). In the case of Grameen, the economic situation of six million disadvantaged women micro-entrepreneurs were improved. A similar SHG movement is helping disadvantaged women in rural in India.

2.Innovation/ New Goods and Services Social enterprises develop and apply innovation important to social and economic development and develop new goods and services. Issues addressed include some of the biggest societal problems such as HIV, mental ill-health, illiteracy, crime and drug abuse which, importantly, is confronted in innovative ways. An example showing that these new approaches in some cases are transferable to the public sector is the Brazilian social entrepreneur Veronica Khosa, who developed a home-based care model for AIDS patients which later changed government health policy.

3.Social Capital Next to economic capital one of the most important values created by social entrepreneurship is social capital (usually understood as the resources which are linked to possession of a durable network of ... relationships of mutual acquaintance and recognition"). Examples are the success of the German and Japanese economies, which have their roots in long-term relationships and the ethics of cooperation, in both essential innovation and industrial development. The World Bank also sees social capital as critical for poverty alleviation and sustainable human and economic development. Investments in social capital can start a virtuous cycle shown below:

Equity Promotion : Social entrepreneurship fosters a more equitable society by addressing social issues and try into achieve ongoing sustainable impact through their social mission rather than purely profit-maximization. In Yunuss example, the Grameen Bank supports disadvantaged women. Another case is the American social entrepreneur J.B. Schramm who has helped thousands of low-income high-school students to get into tertiary education resulting in income generation.To sum up, social enterprises should be seen as a positive force, as change agents providing leading-edge innovation to unmet social needs. Social entrepreneurship is not a panacea because it works within the overall social and economic framework, but as it starts at the grassroots level it is often overlooked and deserves much more attention from academic theorists as well as policy makers. This is especially important in developing countries and welfare states facing increasing financial stress.

a) In context of India, the name of Vinoba Bhave tops the list of social entrepreneurs. He was the Founder and leader of the Land Gift Movement, or the Bhoomi Dhan Movement by which he caused the redistribution of more than 7,000,000 acres of land to aid India's untouchables and landless.

b) Florence Nightingale of the U.K. is also recognised as a social entrepreneur for her invaluable contribution in improving the health care facilities. In fact she was the founder of the first nursing school and the developer of modern nursing practices

c) Muhammad Yunus, founder and manager of Grameen Bank, is also an eminent social entrepreneur from our neighbouring country of Bangladesh who by his untiring efforts has brought about a positive change in the lives of the poor oppressed women groups.

d) Another name that deserves special mention here is that of Jay Vikas Sutaria who through his website Bhook.com is trying to fight the hunger problem of India.

Social entrepreneurship is the work of a social entrepreneur. A social entrepreneur recognizes a social problem and uses his entrepreneurial principles and skills to organize, create and manage a venture to achieve social change.

To be an social entrepreneur one in addition to possessing qualities of creativity and determination, must possess the essential quality of empathy, as only when a person is empathic to the needs of the society, can he be expected to try and change that situation.

Corporate Social Responsibility

C S R makes Business Sense

The earth has enough resources to meet the needs of people but will never have enough to serve their greed. Mahatma Gandhi Triple Bottom Line Concept

Corporate Behaviour

CSR as Core value of the Business

Corp Social ResponsibilityNatural Resources for Business

Core Competency of Business

Key Communities

Corp Social ResponsibilityCSR Makes Business Sense

Corporate Social Responsibility (CSR) is a business strategy that works. Ina world where brand value and reputation are increasingly seen as acompanys most valuable assets, CSR can build the loyalty and trust that ensure a bright sustainable future. In our complex, global society, corporations are becoming increasingly visible. They are not judged on their results but on their behavior too, and this can be an opportunity. Byintegrating CSR into your business as core value, you are not only making a significant contribution to a better society, but just as importantly you arerecognized for doing so. And this has obvious benefits for the company.

Corp Social ResponsibilityIf one is to be successful in 21st century, one must simultaneously excel in all three elements of sustainable development: Economic Prosperity, CSR and Environmental Stewardship. The right way to approach social responsibility is not in rules and regulations but in a high level ethical code that could be built into an organizations value system.CSR is an approach that helps us to get away from the old idea that economic, social and environmental goals are always and invariably in conflict. What we need to work out is how progress on any one of those fronts can support progress on the others.

Corp Social ResponsibilityWe want to see business, the voluntary sector, and public bodies all working together, not doing so grudgingly, but because each sees it as advancing its own key interests to do so, as well as advancing the interestsof others.

Benefits of CSR are :Enhanced Brand Image and ReputationIncreased Trust and Customer LoyaltySustainable Development

The Millennium Development Goals as defined by UN Eradicate extreme poverty and hunger Achieve universal primary education Promote gender equality and empower women Reduce child mortality Improve maternal health Combat HIV/AIDS, malaria and other diseases Ensure environmental sustainability Develop a global partnership for development Stop Child Labour

Major Thrust Areas Address extreme economic backwardness Healthcare Education Income Generation and Livelihood Environment Infrastructure Issues impacting masses

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