Social Entrepreneurship means identifying or recognizing a social problem and using entrepreneurial principles to organize, create, and manage a social venture to achieve a desired social change. It combines the passion with an image of business-like discipline, innovation, and determination.
Social entrepreneurship reflects a growing sense today that many of the most promising solutions to global problems don’t necessarily depend on charity, government aid, or foundation grants. They come from individuals or group of people who are willing to bring entrepreneurial thinking to bear on some of our toughest social problems.
Entrepreneurship has become a new and rapidly growing phenomenon. Even though researchers have just started to notice social entrepreneurs and their myriad enterprise hybrids, the idea of being a social entrepreneur is promptly becoming more widely recognized and accepted.
Social entrepreneurs were no longer seen as being on the edges of society but rather as a career path. The increasing number of students joining New Zealand branch of Enactus, a worldwide youth business competition with a social enterprise focus, was seen as a changing new trend in entrepreneurship. Ten years ago entrepreneurs just wanted independence and money but now young people’s goals seem to be broader. It is not just making money but it’s a lifestyle and helping the social community. Entrepreneurs today have strong values in the front of their minds in making decisions.
Young people want to be recognized and they want to make a difference. They want a challenge, they want autonomy and they want to get better at what they do. Social enterprise gives endless opportunities to do all that.
Due to the economic crisis that the world has been experiencing for the past 5 or more years, the New Zealand government has a bunch of things to think of than focusing on the problems of the society. They are concentrating on the economy of the country, how they can stabilize it and grow it more. They focus on building more parks, government hospitals, and schools for the benefit of the common good.
This is where social entrepreneurship enters in the picture. They focus on the areas that the government is neglecting. They concentrate on the problems of the society and the problems of the world that are being left out by the leaders of the countries. The human rights of women and children, the environmental and global problems are some of the issues that they are involved and trying to solve.
New Zealand has a lot of social enterprises that focuses on different issues that the society has been dealing with for the past years. A lot of young entrepreneurs are interested in putting up their own social enterprises maybe because they are now aware of what the society needs and they have the passion to make a change for the betterment of the people in the society, may it be for the environment or for the people around their community.
In New Zealand, social entrepreneurship is no longer business as usual. It has been defined in many ways, among the simplest of which is the use of entrepreneurial approaches—out-of-the-box thinking, but basically it is—to solve social problems. Unlike business entrepreneurship or private enterprise where wages paid to the poor are considered financial costs to be minimized, but the bottom line for social entrepreneurs is doing good and creating social change, and not necessarily profit. These are considered social benefits for primary stakeholders that need to be optimized.
But more than this, social entrepreneurship is also revolutionizing the way they do business. It is the potential for creating social and environmental good that makes social entrepreneurship attractive. Social enterprises can comprehend an opportunity to do better and do it in...