Social Entrepreneur – Definition
Social Entrepreneur is a passionate individual embarked on a journey to solve identified social problem in an entrepreneurial way.
Social Entrepreneur applies for-profit business principles to solving social problem, by balancing financial sustainability and social impact in a seamless way.
As J. Gregory Dees put it: (check complete transcript here)
Social entrepreneurs play the role of change agents in the social sector by:
- Adopting a mission to create and sustain social value (not just private value),
- Recognizing and relentlessly pursuing new opportunities to serve that mission
- Engaging in a process of continuous innovation, adaptation, and learning,
- Acting boldly without being limited by resources currently in hand, and
- Exhibiting heightened accountability to the constituencies served and for the outcomes created.
Social Enterprises are organizations established to solve identified social problem(s) in a business way. They have the power of a commercial establishment to command resources and apply the same to larger segment or deeper impact of social interest.
In a simplistic representation of “Entity v/s Motive” and “Sustainability v/s Social Impact”, Social Entrepreneurs and Social Enterprises present the next big option of business model that will stand the test of time – including recession of any kind:
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