Tony Fernandes

6380 Words26 Pages
Social Entrepreneurship Social entrepreneurship is the process of pursuing innovative solutions to social problems. It provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation. It identifies a select community of social entrepreneurs and engages it in shaping global, regional and industry agendas that improve the state of the world in close collaboration with the other stakeholders of the World Economic Forum. Social entrepreneurship is about applying practical, innovative and sustainable approaches to benefit society in general, with an emphasis on those who are marginalized and poor. It is a term that captures a unique approach to economic and social…show more content…
* Focuses first and foremost on the social and/or ecological value creation and tries to optimize the financial value creation. * Innovates by finding a new product, a new service, or a new approach to a social problem. * Continuously refines and adapts approach in response to feedback. * Combines the characteristics represented by Richard Branson and Mother Teresa. Social entrepreneurs share some come common traits including: * An unwavering belief in the innate capacity of all people to contribute meaningfully to economic and social development * A driving passion to make that happen. * A practical but innovative stance to a social problem, often using market principles and forces, coupled with dogged determination, that allows them to break away from constraints imposed by ideology or field of discipline, and pushes them to take risks that others wouldn't dare. * A zeal to measure and monitor their impact. Entrepreneurs have high standards, particularly in relation to their own organization’s efforts and in response to the communities with which they engage. Data, both quantitative and qualitative, are their key tools, guiding continuous feedback and improvement. * A
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