Social Entrepreneurship - 1768 Words

Assess the importance of social entrepreneurship in the local context. 1.0 Definition of Social Entrepreneurship A social entrepreneur identifies and solves social problems on a large scale. Just as business entrepreneurs create and transform whole industries, social entrepreneurs act as the change agents for society, seizing opportunities others miss in order to improve systems, invent and disseminate new approaches and advance sustainable solutions that create social value. Unlike traditional business entrepreneurs, social entrepreneurs primarily seek to generate social value rather than profits. And unlike the majority of non-profit organizations, their work is targeted not only towards immediate, small-scale effects, but sweeping,†¦show more content†¦4.0Fundings As the programs and projects of NGOs expand, the need for money to run their operations becomes all the more critical. NGOs have remained highly dependent on donor and external organizations such as UNDP, WHO, etc – in addition to some fundraising efforts from the private sector and general public. Funding for the majority of NGOs remains limited, as only a few have access to government grants. Financial weakness The majority of NGOs are not membership based, hence the opportunity to sustain core funding from membership contributions is lost to many. Other sources for sustainable financing are not yet fully explored, for example, long-term partnership with private sector (beyond fundraising), engagement in economic activities and social mobilization at community level. Competition for limited funding creates a negative environment for networking among NGOs, which in turn leads to duplication and loss of opportunities to pool knowledge, experiences and resources to a common cause 5.0 How local NGOs can become entrepreneurial and raise finance A success story of how NGOs can become entrepreneurial and raise its own finance and at the same time help the community would be the example of the Big Issue magazine in London. The Big Issue is a business. But it is a different kind of business, a social business, which provides a business solution to a social problem. Although The Big Issue work as a business, their aim is not to make money for its ownShow MoreRelatedSocial Entrepreneurship921 Words   |  4 PagesSOCIAL ENTREPRENEURSHIP When I was a kid, I could have been what people would now call a social entrepreneur or socialpreneur. A lot of people would have fallen into this category. To help your school or church or youth group, you may have sold chocolate bars door-to-door. People bought them, even if they didnt like chocolate; because they knew the money would go to support a worthy cause. Both the seller and purchaser are examples of social consciousness in action. Now my ownRead MoreSocial Entrepreneurship2389 Words   |  10 PagesWhat is social entrepreneurship? The animation is made to explain the concept of social entrepreneurship to the general public and raise awareness of the importance of this type of business.... Social entrepreneurship  is the attempt to draw upon business techniques to find solutions to social problems.This concept may be applied to a variety of organizations with different sizes, aims, and beliefs. Conventional  entrepreneurs  typically measure performance in profit and return, but social entrepreneursRead MoreSocial Entrepreneurship And Social Innovation1502 Words   |  7 PagesSocial Entrepreneurship The term â€Å"social entrepreneurship† first appeared in the scholarly literature over 35 years ago in a publication titled The Sociology of Social Movements (Banks,1972). However, Social entrepreneurship has its origins in the eighteenth and nineteenth centuries when philanthropic business owners and industrialists like Robert Owen, demonstrated a concern for the welfare of employees by improving their working, schooling and cultural lives. Since then, social entrepreneurshipRead MoreSocial Entrepreneurship : A Social Entrepreneur1929 Words   |  8 PagesSocial entrepreneurship is a new term that has increased in usage over the last twenty years. 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Furthermore, it aims to examine constraints that an independent investor, wanting to start-up a social enterprise, in New Zealand may encounter in the current environment, including funding optionsRead MoreThe Idea Of Social Entrepreneurship2201 Words   |  9 PagesOn the idea of social entrepreneurship The idea of social entrepreneurship implies diverse things to various individuals and analysts (Dees, 1998). One gathering of scientists alludes to social enterprise as not-revenue driven activities looking for option financing methodologies, or administration plans to make social worth (Austin, Stevenson, and Wei-Skiller, 2003; Boschee, 1998). A second gathering of analysts comprehends it as the socially mindful routine of business organizations occupied