SOCIAL ENTREPRENEURSHIP

Social Entrepreneurship



Social Entrepreneurship

Introduction

Social entrepreneurship is the work of a social entrepreneur. A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. Whereas a business entrepreneur typically measures performance in profit and return, a social entrepreneur assesses success in terms of the impact s/he has on society. While social entrepreneurs often work through nonprofits and citizen groups, many work in the private and governmental sectors. (David, 2006, 21)

Q. Social entrepreneurship is different from business entrepreneurship. Discuss with reference to relative theory and examples.

The main aim of a social entrepreneurship as well as social enterprise is to further social and environmental goals. Although social entrepreneurs are often non-profits, this need not be incompatible with making a profit. Social enterprises are for 'more-than-profit,' using blended value business models that combine a revenue-generating business with a social-value-generating structure or component. (David, 2006, 21)

The terms social entrepreneur and social entrepreneurship were first used in the literature on social change in the 1960 and 1970s. It came into widespread use in the 1980s and 1990s, promoted by Bill Drayton the founder of Ashoka: Innovators for the Public and others such as Charles Lead beater. From the 1950s to the 1990s Michael Young was a leading promoter of social enterprise and in the 1980s was described by Professor Daniel Bell at Harvard as 'the world's most successful entrepreneur of social enterprises' because of his role in creating over 60 new organizations worldwide, including a series of Schools for Social Entrepreneurs in the UK. Another British social entrepreneur is Lord Mawson OBE. (David, 2006, 21) Andrew Mawson was given a peerage in 2007 because of his pioneering regeneration work. This includes the creation of the renowned Bromley by Bow Centre in East London. He has recorded these experiences in his book "The Social Entrepreneur: Making Communities Work" [4] and currently runs Andrew Mawson Partnerships to help promote his regeneration work.

Although the terms are relatively new, social entrepreneurs and social entrepreneurship can be found throughout history. A list of a few historically noteworthy people whose work exemplifies classic "social entrepreneurship" might include Florence Nightingale (founder of the first nursing school and developer of modern nursing practices), Robert Owen (founder of the cooperative movement) and Vinoba Bhave (founder of India's Land Gift Movement). During the 19th and 20th centuries some of the most successful social entrepreneurs successfully straddled the civic, governmental and business worlds - promoting ideas that were taken up by mainstream public services in welfare, schools and healthcare. (David, 2006, 21)

One well known contemporary social entrepreneur is Muhammad Yunus, founder and manager of Grameen Bank and its growing family of social venture businesses, who was awarded a Nobel Peace Prize in 2006. The work of Yunus and Grameen echoes a theme among modern day social entrepreneurs that emphasizes the enormous synergies and benefits when business principles are unified with social ventures. In some countries - including Bangladesh and to a lesser extent ...