Importance Of Social Entrepreneurship Essay

Social Entrepreneurship has been in our economy since historic times. They may not have been recognized properly with that term, social entrepreneurship, but what some other people from historical times had done can be considered as an action that pursue to solve social problems. Social Entrepreneurship had already been defined in several books, however, in the book, Social Entrepreneurship: What Everyone Needs to Know, social entrepreneurship had not only been defined but had also discussed the very origin of not just the term itself but as well as the actions that some people from historical times had done that can now be seen as a model or example of social entrepreneurship.

Social entrepreneurship which has been applied in so many different ways by so many different analysts that it’s depth of vast complexity is still being unraveled and it seems it is still in infancy. It is a multi-interpretable concept and although the use of the term is widespread its use is either overrated or misused. Hence, it is important to firstly understand what social entrepreneurship really is.

He then spent two years setting up a formal, independent bank to do just that. On Oct. 2, 1983, Grameen Bank was created. Grameen Bank now works in more than 46,000 villages in Bangladesh, has 1,267 branches and more than 12,000 staff members, and has lent more than $4.5 billion, in loans of $12 to $15. A housing loan is $300. At the heart of this empowerment are individuals who chose to become selfreliant, independent entrepreneurs producing goods out of their own homes or neighborhoods to become economically viable and successful. They found their voices.

Michelle Ellena, MA in Social Entrepreneurship and Change, Graduate School of Education and Psychology, Pepperdine University. Correspondence concerning this article should be addressed to Michelle Ellena at mellena@pepperdine.edu

The interview was conducted at Mrs. Singh’s house, where she has opened her tutoring center called New Heights Tutoring Centre. It was a privilege to talk to Mrs. Singh and spend a day with her to garner a notion of what it takes to be a social entrepreneur. Mrs. Singh is a self-made entrepreneur who is not afraid of taking risks in her life, rather she is always looking to embark on new adventures that tests her abilities that allows her to improve the lives of her students. Furthermore, she comes across as an inspirational leader for her students and other individuals in the society.

A) A real entrepreneur can take an idea and that can be change in to a service or product according to the needs of certain population. Because of this characteristic economists said that “entrepreneurship is becoming an important agent in the growth and wellbeing of the society”.an entrepreneur is motivated by family or society. They offer new completion and also promotes improved productivity. They can recognize and resolves social problems on a large scale. To create social value entrepreneurs act as a change agent for the society like designing and distributing new approaches. Entrepreneur react very quickly and effectively to the change so that they can take the advantage of opportunities. If they can’t capable of quick action it will be result on their process and success. Social entrepreneurs are stepping to solve the problems.

Apart from all the scholarly concepts presented, other practical interpretations of SocEnt are happening in the field. As suggested by Schiller (2013) , there are several prominent social sector organizations like the Schwab Foundation, the Ashoka network and the Skoll Foundation, which support and define social entrepreneurship (2013, p. 13).

Social entrepreneurship is the method used by startup corporations and other entrepreneurs to recognize the social problems and achieve a social change by employing entrepreneurial principles, processes and operations to create, fund and implements innovative ideas with the potential to solve social, cultural, or environmental problems. It is the process of focusing on the improvement of existing conditions. It is seeing an opportunity to remove social and institutional barriers while addressing the market failures connected to the provision of public goods and distributional equity.

Muhammad Yunus, Founder of the Grameen Bank is often hailed as the architect of microfinance lending and has been praised around the world for his work and even awarded the Nobel Peace prize in 2006. The concept of microfinance is to lend small portions of money to poor people who could not have otherwise acquired a loan from a regular bank. Microfinance banks give the poor a small loan with incredibly high interest rates in the hope that the borrower will create a business or some form of income creating venture to sustain themselves and pay back their loans. Not only is that person left with a way to support themselves, but it also creates jobs in the community. These banks have noticed that when the money was lent to a family through the woman of the household, it went a longer way than if the man of the household received the loan. Yunus has noticed even within the Grameen Bank that “Poor women [have] an amazing skill, the skill of managing a scarce resource.” (12) Studies have shown that if a mother is receiving income the first beneficiaries are her children. The effects of this are amazing, many communities have seen a rise in school enrollment and improved child survival rates because women are more likely to spend money on food for their children and health care than are fathers. There is a saying, “If you give a man a fish, he will eat

In order to promote energy supply and economic development, which is the core of this paper, the author argued that the idea behind the project was not to tap the energy from the sun to electrify these remote communities. Rather, it was geared towards installing small solar panels that were not much bigger than an iPad to power the basic appliances (light bulbs, cell phone, and other basic necessities that can alter people’s lives) in those homes (2015). This demonstrates the economic as well as the energy efficiency side of this study, which I believe Hallett will accept. The author also argues that going small better fits the budget of rural Tanzanians and the money saved from buying kerosene and other oil to lighten their homes were used for other things. This concept is known as pay-as-you-go. This concept was far cheaper and affordable than what the government of Tanzania and some big energy companies were offering, the author claimed (2005).

Nothing can be nobler than wanting to improve the conditions of the world both on an environmental and sociological level. Those individuals and businesses that choose to take on society 's problems are a special breed and they face an uphill battle not only in performing their work, but finding the financial resources to grow the business so that it can fulfill its mission. This paper will examine the industry of social entrepreneurship and how venture capital funding is playing a role in improving life for all.

Socially Responsive Activities are the actions of a business that benefits society. There are many activities that organizations can engage in to better society. Environmental Awareness and Community Activities are examples of socially responsive activities that Chipotle happens to support.

It is difficult for impact investors to find a good social company that is able to make profit and still have extensive impacts to the world. While philanthropists do not consider about the profit, but more about the impacts that can be

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses

Building Social Business is a book about social enterprise written by Muhammad Yunus. Muhammad Yunus is a social entrepreneur, economist, banker, and civil servant leader from Bangladesh. He is known for founding the Grameen Bank which is a microfinance organization and community development bank. Yunus is a well-known proponent of microfinance and microcredit. Due to his efforts in making a change through microfinance and microcredit and other noble causes, Yunus has been given several awards including the Independence Day Award in 1987, World Food Price in 1994, Pfeffer Peace Price also in 1994, Gandhi Peace Price in 2000, Volvo Environment Prize in 2003, Nobel Peace Prize in 2006, Presidential Medal of Freedom in 2009, Congressional