Social Entrepreneurship - Definition, Meaning, Challenges, Examples and Types (Management 81)

Social Entrepreneurship refers to an approach by start-ups, groups, and individuals to fund, and develop solutions to cultural, social, and environmental issues.

Social Entrepreneurship is a concept that can be applied to organizations with varying aims, beliefs and sizes.

It is mostly related to voluntary sectors like healthcare and community development.

Social Entrepreneurship & Investors

Socially-conscious investors filter the investments based on specific standards for governance, environmental and social criteria.

Social Entrepreneurship & Promotion

Social Entrepreneurship has benefitted from social marketing and social media websites that help to reach multiple people with a single click. It is easy to educate about issues and spread information about related events and activities.

Social Entrepreneurship Challenges

- Social entrepreneurs work for the people who do not have the means to repay
- The model is not at all scalable
- The pay in this field is negligible and sometimes it becomes difficult to keep a batch of qualified workers in hand
- Investors are not interested in social causes as the return is not monetary
- Risks involved with Social Entrepreneurship is much greater and often proves a challenge

Examples

1. Bill Drayton
2. Scott Harrison
3. Grameen Bank
4. Anshu Gupta
5. TOMS

Types of Social Entrepreneurship

1. Social Business Venture

These models bring change through social means

2. Hybrid Non-Profit

This unique organizational structure comes in various forms. It uses gains from profitable ventures and directs it towards community purposes.

3. Leveraged Non-Profit

This type of model uses financial and other resources for fulfilling social needs.

This video is on Social Entrepreneurship and it has the following sub-topics.
Time Stamps

0:00 Introduction to Social Entrepreneurship
00:21 Definition of Social Entrepreneurship
00:50 What is Social Entrepreneurship?
01:14 Social Entrepreneurship & Investors
01:43 Social Entrepreneurship & Promotion
02:10 Social Entrepreneurship Challenges
03:16 Social Entrepreneurship Examples
05:51 Types of Social Entrepreneurship

[adityasahu]

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[nishurathore]

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