Have you ever wondered What Is Social Entrepreneurship?
You may never have even heard the term Social Entrepreneurship, but I will tell you now that you are going to hear a lot about it in the upcoming years.
Before writing this article to answer your question about what is social entrepreneurship I did some of my own research and the articles written were so complicated to understand what social entrepreneurship actually is, I thought I would write something that all of us can understand and hopefully help everyone see how powerful this new form of business is and what it can mean to you and your future.
To answer the question What Is Social Entrepreneurship easily it is when a company it is combining the not for profit passion to fix a problem with the resources and cash-flow of a for profit business.
So the business says:
“Ok we see that problem, we are not going to expect anyone else to fix that problem, we are going to do it ourselves. Everything we do will be guided towards not only making profits
for the company but also fixing the problem we see.”
Depending on the size of the Social Entrepreneurs business, they can take something on in a small-scale project and then develop it from there or they can take on a global problem.
Our company has decided that they are going to take on a global problem and be the answer to the question What Is Social Entrepreneurship. We believe rather than telling you what is social entrepreneurship we would be the example (well hope to be anyway haha)
Think about this for a moment and how powerful the social entrepreneurship model is.
What would it be like if business stopped just thinking about their bottom line and started to think further afield about the community and the globe.
I believe that if we saw more and more companies think like this and their culture was about people and fixing global problems, people wouldn’t care how much money a company has in their bank account, they would be focused on how much good they are doing in the world.
We like to explain what is social entrepreneurship with 4 points:
1. What is social entrepreneurship: Social Entrepreneurship Takes On A Global Challenge:
They look at more than their bank account or the problems they are facing on a daily basis, they look on a global basis. For us and the company we have partnered with, the global problem we decided to fix is Global Malnutrition. Can you imagine the impact it would have on the globe if we were able to wipe out global malnutrition?
2. What is social entrepreneurship: Social Entrepreneurship Create innovative new solutions to the global challenge:
It can not be business as usual, because business as usual has gotten us to where we are today. Social Entrepreneurs take on great challenges, they deal with greedy governments, tight margins all while developing a totally new business model that no one has ever seen before.
So they have to create everything from scratch however this fledgling business program is changing the world already.
3. What is social entrepreneurship: Social Entrepreneurship taps into the passion of the public:
We believe that in the heart of everyone lies the desire to do good, but sometimes the problems just look too big. Social Entrepreneurs make it easy for the public to be involved and help change and impact the globe or their local market. Most of the time, all the public has to do is buy the product and or service, and they end up being able to say they are part of changing and fixing the issue.
4. What is social entrepreneurship: Social Entrepreneurship finds new ways to fairly compensate their participants:
One of the interesting things we have found is that the public want to help whether or not they are getting anything out of it or not. They are generous and caring and because it does not cost them anything extra to help, they do. Most of the time they tell their friends and family what they have done and this helps build the social awareness of the company, their products and their mission.
However something special happens when you actually reward your clients for helping spread the word.
This can be via cash incentives, rewards or recognition or all of the above.
In our organisation we do all of the above and more and to say that there is excitement around what we do would be an understatement.
We hope this answers your question about what is social entrepreneurship.
We are going to spend a little time on this subject what is social entrepreneurship and all the information around it because it is important for you and your future in business.
Below is a webinar we did on what is social entrepreneurship 🙂
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