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Social Entrepreneurship & its Benefits | Company Vakil

Introduction:

Social Entrepreneurship is an Ideology Efforts made by skilled entrepreneur who puts all their not only head but also all heart for the welfare of society. We name ‘’SOCIAL ENTREPRENEURSHIP’ when social problems, social economy, educational, health and environment problems are untangled through Entrepreneurial Principles. When any Entrepreneur or any small or big organization shakes hand towards society upliftment, then they form a balanced shape of social and economy. This change the system as a wholes and persuading societies to take new initiatives.

 

Social entrepreneurship is the use of start-up companies sand other entrepreneurs to develop found and implements solution. The term “SOCIAL ENTREPRENEURSHIP” is relatively new, but it builds upon centuries of trans formative leaders. It not form a business leaders but also developing a social leaders. Theirs works is all about developing Integrity and not about making money and rising in social media.

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One who is being called social entrepreneur they have maintained the quality of being honest and having strong moral principles and moral uprightness. This a diverse practical social and economic change movement that deploys innovative to address the need of those who is living in poverty.

 

Social Entrepreneurship aimed to become financially sustainable and genera were income, and if needed loan they provide a loans to deprived and also provides business loans to those who wanted to initiate their own business, who are willing to buy a new machines, clothes, vehicles, to start up their own work for survival, because bank are not willing to give them a loan due to consideration of below poverty line. And then a social entrepreneurs come to shake hands and allow them to work for themselves.

 

The social entrepreneurship participates in profit seeking business ventures if only to use the profit generated to create a valuable social programs for the whole community which need s to mitigate the financial repercussion among vulnerable.

Social entrepreneurship is discussed as a sustainable business model and a tool to achieve sustainable development through the opportunities it provides and approaches through which it addresses social and environmental problems, reinvesting profits from business activities to achieve goals related to social.

 

There is huge lack of awareness to words this mission which is more pensionable and valuable ,very less amount of peoples know there divine work due to lack of awareness in India, some of peoples have no idea how it works and why this movements is being taken by some great peoples.

Social entrepreneur has been analysed from many perspectives, either from its social impact, its proposed social value, or its direct or indirect action. This chapter attempts to analyse the entrepreneur from a new approach: the perspective of the leader. Therefore, the question arises: is leadership in social entrepreneurs an evolutionary process or not? Is it a natural ability or a learned technique? Is the social entrepreneur a leader born or made? To answer this, we will analyse the main contemporary theories of leadership from two different paradigms (Colvin, 2013), we will define new concepts in the world of social entrepreneurship, we will establish a life cycle of strategic leadership promoted by the social entrepreneur focused on his or her organization in order to serve as a seed for the intended social impact.

Types of Social Entrepreneurship:

  • Community Project.
  • Non-profit Organization.
  • Co-operative.
  • Social Enterprise.
  • Social Purpose Business

 

Some of great who took responsibilities as social entrepreneur:

 

Ajaita Shah: Her aim is to start at the grass root level, beginning technologies of the highest grade at cheaper prices to rural India. Business Week ranks her as the most influential leader under 30, working for a tenure of 5 years in SKS Microfinance and Ujjivan Financial Services. Frontier Markets organisation is her brain child. Being a 2012 Echoing Green Fellow is to be of aid to 30 million rural households in the next 3 years.

 

Akansha Hazari: A multitasker from her youth, Akansha is a social entrepreneur, peace negotiator and business woman. She hooks the reputation of being honoured by President Bill Clinton with $1,000,000, for her ventures in solving global water crisis in the form of “m.Paani”.

 

 

Aditya Baran Mallick: The Institution for Quality Skill Training was his creation. This institution comes to the aid of the youth from poor backgrounds to invest gold in Jharkhand for a better living. Stretched over 13 states, it aims to admit 50,000 students annually. It now has a turnover of Rs. 2.5 crore, being funded by Kitendo Capital (a Switzerland based angel impact investment fund).

 

Social entrepreneurs create new organizations, new markets, and new ways of thinking and behaving in solidarity with poor communities to provide basic services, such as renewable energy, clean water, health care technologies, education, and access to financial services. SEs devise highly affordable products and services that can be bought

 

Social Enterprise vs. Non-profit. Social enterprises are not only a structural element of a non-profit.  Social enterprises in the non-profit form can earn income for their goods or services; they are typically regarded as non-profits that use business strategies to generate revenue to support their charitable missions

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Opportunities for Social Entrepreneurship

Social entrepreneurship is a new form of entrepreneurship that exhibits characteristics of nonprofits, governments and businesses. It applies traditional (private-sector) entrepreneurship’s focus on innovation, risk taking and large-scale transformation to social problem solving. The social entrepreneurship process begins with a perceived social opportunity is translated into an enterprise concept; resources are then ascertained and acquired to execute the enterprise’s goals. Social entrepreneurs sometimes are referred to as “public entrepreneurs,” “civic entrepreneurs,” or “social innovators”. They are change agents; they create large-scale change using pattern-breaking ideas, they address the root causes of social problems, and they possess the ambition to create systemic change by introducing a new idea and persuading others to adopt it. These types of trans formative changes can be national or global. They can also be highly localized in their impact. Social entrepreneurs who create trans formative changes combine innovative practices, ad deep knowledge of their social issue area and research to achieve their goals. For entrepreneurs working in the social realm, innovation is not a one-time event; rather it is a lifetime pursuit.
Poverty alleviation through empowerment, for example the micro finance movement
Health care, ranging from small-scale support for the mentally ill ‘in the community’ to larger scale ventures tackling the HIV/AIDS pandemic
Education and training, such as widening participation and the democratization of knowledge transfer.
Environmental preservation and sustainable development, such as ‘green’ energy projects.
Community regeneration, such as housing associations.
Welfare projects, such as employment for the unemployed or homeless and drug and alcohol abuse projects.

Challenges of social entrepreneur in India

When social entrepreneurs endeavor to bring about a social change, they are confronted with tremendous problems. To begin with, they collect vast amount of information, synthesize them, and then develop an action plan, focusing on the causes of the problem. Communication and leadership skills are essential to acquire basic entrepreneurial qualities, which are, per SE, linked to character and personality. Successful entrepreneurs are opportunity-seekers, value-creators and resource-allocates. They are basically bold, patient, resourceful people. Social entrepreneurs are tied to a coal goal fostered by a personal history and feeling that improving society is part of one’s personal fulfilment and potential, but they need to equip themselves with a disciplined way of thinking and of approaching problems without forgetting that this training is not enough. The complexities of the reality demand that the social entrepreneurs deal promptly and diligently with problems.

 

Challenges of social entrepreneur in India
When social entrepreneurs endeavour to bring about a social change, they are confronted with tremendous problems. To begin with, they collect vast amount of information, synthesize them, and then develop an action plan, focusing on the causes of the problem. Communication and leadership skills are essential to acquire basic entrepreneurial qualities, which are, per se, linked to character and personality. Successful entrepreneurs are opportunity-seekers, value-creators and resource-allocators. They are basically bold, patient, resourceful people. Social entrepreneurs are tied to a coal goal fostered by a personal history and feeling that improving society is part of one’s personal fulfilment and potential, but they need to equip themselves with a disciplined way of thinking and of approaching problems without forgetting that this training is not enough. The complexities of the reality demand that the social entrepreneurs deal promptly and diligently with problems.

 

Conclusion

There are innumerable examples of people who have blended profitability with social cause and made a difference. They are spread across different sectors-education, energy, healthcare and technology to name a few. But is it enough? Maybe we need many more dreamers and people who can turn this dream into reality. With the Indian entrepreneurial energy, there seem to be a lot to look forward to. Sustained efforts, not only by the financial, business, multilateral and public sectors but also the academic sector, will be the critical to maintaining the current momentum for social entrepreneurship.

Social enterprises are not easy businesses to run. The challenge of retaining financial stability while utilizing commercial practices to actively develop social impact brings unique leadership and management challenges.

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