Social entrepreneurship verses Business Entrepreneurship

SOCIAL ENTREPRENEURSHIP

ITEC PROGRMME

GLOBAL ISSUES

Environmental threats Inadequate education Declining trust in political institutions Poor health system Entrenched poverty High crime rate Human right abuses and Escalating violence

From Despair to Hope

Bureaucracy and Leadership FAILS and goes into Gridlock

Rivers Die……

Its air and water is not fit to consume for humans

As millions move to cities that cannot house them

When we know that the system is failing

We are not safe, our women are not safe, our children are not safe

Is there a HOPE?

WHAT IS SOCIAL ENTREPRENEURSHIP?

Social entrepreneurs are practical visionaries who possess qualities traditionally associated with leading business entrepreneurs – vision – innovation – determination and long-term commitment – but are dedicated to a systematic social change in their chosen field.

They adopt a MISSION to create a Social Value and not just Private Value

This is the core of what distinguishes SE from BE

Making a profit, creating a wealth or serving the desires of customers may be part of the model, but these are means to a social end, not the end in itself Profit is not gauge of value creation, social impact is the gauge

Social entrepreneurs look for long-term social return on investment.

They want to create lasting improvements.

They think about sustaining impact.

DIFFERENCE BETWEEN SOCIAL ENTREPRENEURS AND BUSINESS

ENTREPRENEUR

BUSINESS ENTREPRENEUR

• Strong in ‘Need for Achievement’ passion for achievement his/her personal goal.

SOCIAL ENTREPRENEUR

• Strong in ‘Need for Extension Motivation. Passion for achieving social mission with an image of business-like discipline, innovation and strong determination.

• Business entrepreneurs are catalysts and innovators behind economic growth.

• Successful business entrepreneurs are change agents and contribute to economic growth of a country.

• Social entrepreneurs are catalysts and innovators essentially creating social values. E.g.. Creating social value by reducing pollution or by saving the spotted owl.

• Social entrepreneurs are the change agents in the social sector. They are reformers and revolutionaries describe by Schumpeter, but with social mission.

• They have created large markets and also created resources required for the same.

• Their actions have potential to stimulate global improvement in their chosen arenas, whether that is education, health care, economic development, the environment, the arts or any other social sector field. However, social entrepreneurs do serve large markets with limited resources.

One of the most successful examples of social enterprise for-profit is that of Grameen family of organizations. • Grameen Bank – a microfinance organization• Grameen Phone – for-profit organization serving

more than 10 million customers providing cost-effective and quality services in Bangladesh.

• Grameen Danone Foods – a joint venture between Grameen Bank and French Food Company Danone. It is for-profit company producing and selling fortified yoghurt and branded shaktidoi.

• Grameen America is microfinance organization to alleviate poverty through entrepreneurship for Bangladeshi women .

SIX QUALITIES OF SOCIAL ENTREPRENEURSHIP

The most successful social entrepreneurs are who are most determined to achieve a long-term goal that was deeply meaningful to them.

SIX QUALITIES• Willingness to self-correct:- Because of

their motivation, highly successful social entrepreneurs are highly self- correcting.

• Willingness to share credit:- It has been said that there is no limit to what you can achieve, if you don’t care who gets the credit. If an entrepreneur’s true intention

is simply to make change happen, then sharing credit will come naturally.

• Willingness to break free of establishing structures.

• Willingness to cross disciplinary boundaries:- Pulling together people from different spheres, with different kind of experience and expertise, who can together build workable solutions.

• Willingness to work quietly.

• Strong ethical impetus.

Finally,DEFINING SOCIAL ENTREPRENEUR

Social entrepreneurs play the role of change agents in the social sector by adopting a mission to create and sustain social values (not just private value).

THANK YOU