the attempt to draw upon business techniques to find solutions to social problems. Thisbe applied to a variety of organizations with different sizes, aims, and beliefs. concept may
Conventional entrepreneurs typically measure performance in profit and return, but social entrepreneurs also take into account a positive return to society. Social entrepreneurship typically attempts to further broad social, cultural, and environmental goals often associated with the voluntary sector.[3] At times, profit also may be a consideration for certain companies or other social enterprises.
Contents [hide]
1 Modern definition
2 History
3 Current practice
3.1 Major organizations
3.2 Types of social entrepreneurship
4 International presence
5 Role of technology
6 Public opinion
6.1 Controversy
7 See also
8 References
9 Further reading
Modern definition[edit]
There are continuing arguments over precisely who counts as a social entrepreneur. Thus far, there has been no consensus on the definition of social entrepreneurship, so many different sorts of fields and disciplines are associated with social entrepreneurship. Philanthropists, social activists, environmentalists, and other socially oriented practitioners are referred to as social entrepreneurs. The fact that social entrepreneurs fall under various career types is part of the reason it is difficult to determine who is truly a social entrepreneur. David Bornstein (author) has even used the term "social innovator" interchangeably with social entrepreneur, due to the creative, non-traditional strategies that many social entrepreneurs use.[4] For a clearer definition of what social entrepreneurship entails, it is necessary to set the function of social entrepreneurship apart from other socially oriented activities and identify the boundaries within which social entrepreneurs operate. Some have advocated restricting the term to founders of organizations that primarily rely on earned income–meaning income earned directly from paying consumers. Others have extended this to include contracted work for public authorities, while still others include grants and donations.
Muhammad Yunus, founder of Grameen Bank
Social entrepreneurship in modern society offers an altruistic form of entrepreneurship that focuses on the benefits that society may reap.[6] Simply put, entrepreneurship becomes a social endeavor when it transforms social capital in a way that affects society positively. It is viewed as advantageous because the success of social entrepreneurship depends on many factors related to social impact that traditional corporate businesses do not prioritize. Social entrepreneurs recognize immediate social problems, but also seek to understand the broader context of an issue that crosses disciplines, fields, and theories. Gaining a larger understanding of how an issue relates to society allows social entrepreneurs to develop innovative solutions and mobilize available resources to affect the greater global society. Unlike traditional corporate businesses, social entrepreneurship ventures focus on maximizing gains in social satisfaction, rather than maximizing profit gains.[8] Both private and public agencies worldwide have had billion-dollar initiatives to empower deprived communities and individuals. Such support from organizations in society, such as government-aid agencies or private firms, may catalyze innovative ideas to reach a larger audience.
Prominent individuals associated with the term include Pakistani Akhter Hameed Khan and Bangladeshi Muhammad Yunus. Yunus was the founder of Grameen Bank, which pioneered the concept of microcredit for supporting innovators in multiple developing countries in Asia, Africa, and Latin America. He received a Nobel Peace Prize for his efforts. Others, such as former Indianapolis mayor Stephen Goldsmith addressed social efforts on a local level by using the private sector to provide city services.
