* Creating business models revolving around low-cost products and services * Social entrepreneurship is the process of bringing about social change on a major scale * Social enterprises can be structured as a for-profit or non-profit
HISTORY OF SOCIAL ENTREPRENEURSHIP
* The Social Enterprise movement first emerged in 1840s
* In Rochdale, a workers' co-operative was set up to provide high quality affordable food in response to factory conditions that were considered to be exploitative * In the UK, in the late 1990s, Social Enterprise started to reappear * The term ‘Social Entrepreneurship’ was promoted by Bill Drayton the founder of Ashoka: Innovators for the Public * It is a relatively new term but its usage has been found throughout the history * There were entrepreneurs during nineteenth and twentieth centuries who made efforts to eradicate social evils * Historical examples of social entrepreneurs
* Vinoba Bhave - India’s Land Gift Movement
* Robert Owen - Cooperative Movement
* Florence Nightingale - developer of modern nursing practices
What does a social entrepreneur do?
* The main aim of social entrepreneurship is to further broaden social, cultural, and environmental goals * Social entrepreneurship also includes recognition and addressing the financial issues for rural and urban poor * They aim to make broad-based, long-term changes
* Operate as commercially run businesses
* Aim to make profits
* Generate the bulk of their income through sales of goods or services * Use good business practices and principles
* Use the majority of their profits to further social or environmental goals
Why "Social" Entrepreneurship?
* NGO’s do not have enough funds to bring sweeping changes in the society * Social enterprise achieve social benefits through standard business practice & can help create strong and sustainable...