Profit and Social Work Co-Exist
Social entrepreneurship is not a totally new term, its been there for generations. Today we are having more people get involved in social entrepreneurship. A social entrepreneur is a person who applies the principles of entrepreneurship to a social problem. In this manner, he or she is able to resolve the social setback and at the same time generate wealth from the intervention. Is this possible? Yes it is. Here is an example that speaks for itself:
Nobel Laureate, Prof Mohammad Yunus – This man worked among the communities that lived below the poverty line in Bangladesh. While trying to empower them socially and economically, he observed that they are trapped into poverty because of lack of credit. When given access to micro credit, sometimes as little as USD 50, they can leverage it to catapult themselves out of the abject poverty conditions they lived in. Grameen Bank evolved on the principles of micro-credit financial institutions, designed to provide money to those who would otherwise not be eligible for formal credit. The Grameen Bank is an institution, which is making huge profits and also empowers the poor to break out from the shackles of economic helplessness.
We Need More Of This Tribe
The world is full of situations where communities are neglected, where social intervention is required, where efforts to improve conditions depends upon the funds the local non-profit organization raise. Social entrepreneurship are more culturally sensitive than ever before, and those who get into the business of social entrepreneurship, know to take account the values of the local community in which the intend to serve. Today, we need more social entrepreneurs; we need people who can work out solutions that generate funds for themselves, and not depend upon charity.
Social entrepreneurs are empathetic, and have they ability to collaborate well with others, motivating them to act and serve selflessly. Social entrepreneurship can very well be the solution of a better tomorrow, a world which can take care of itself and eliminate hunger, social inequality, economic challenges and other such community issues.
Today with the rise of social media it makes it easier for social entrepreneurs to use the technology available to them for better communication, connection and mobilization.