Importance Of Social Entrepreneurship Essay

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Entrepreneurship is the process of designing, launching and running a new business while social entrepreneurs launch the business and implement solutions to social, cultural, or environmental issues simultaneously. Bill Drayton once said, “There is nothing more powerful than a new idea in the hands of a social entrepreneur.” In the world, there are billions of people have no access to education, healthcare, clean drinking water, food and even the basic human rights and respect. Violence, poverty and more global issues are at the alarm rate nowadays. These matters have to be tackled immediately before it is too late to do so. In our opinion, social entrepreneurship is the best way to help the needy and overcome the problem. New ideas, opportunities and technologies are sought in solving long-standing social problems. There is a good example to indicate our words, social entrepreneur in South America, Steve Katsaros. Can you imagine what was life like when oil lamps and candles were all we had to light our cities with? Indoors was just as treacherous as outdoors. Katsaros invented a solar-powered light bulb that provide isolated villages with power, thus bypassing the need to bring a power infrastructure out to remote areas. It has brought a great change in their daily lives which allow people to work, study and play at night without the use of kerosene lamps, which may pollute the environment and arise the respiratory diseases such as asthma. Consequently, Katsaros was able to bring convenience to the people while he can also stay in his business by selling the bulbs to the people. (The Guardian, 2009)
To cite the saying that social entrepreneurship is the best way to help people in need, we would like to provide an outstanding example of social enterprise which is Grameen Bank. Grameen Bank was officially founded in 1983 by Muhammad Yunus and it provides small loans, rather than charity, to the poorest of the poor especially women in Bangladesh. This indeed provides an opportunity for the people to transform their lives. In 2006, Nobel Peace Prize was awarded to Muhammad Yunus and the Grameen Bank for their efforts to create economic and social
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