A social enterprise stands on a belief to change the society in a good way. Social entrepreneurs take the initiation to implement the ideas to solve the problems. Different steps are involved in starting a social enterprise. This article describes the different steps in social enterprise.
Introduction:
‘Social entrepreneur’ is a person who takes an initiative in implementing an ingenious or path breaking idea that has the potential to solve social problems and create positive modifications in the society or community. This attempt to draw upon business techniques to find solutions to the social problems or issues is termed as ‘social entrepreneurship’.
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Strategies of Social Entrepreneurship
1. Non-Profit with earned income strategies
This kind of social enterprises performs social and commercial entrepreneurial activity to achieve self-sufficiency. In this context, a social entrepreneur operates an organization that would aim for a combination of social and commercial benefits; and the revenue thus generated would only be utilized for further improvement of social values. The examples include Ashoka, Goodwill, Canadian Cancer Society, The Salvation Army, SickKids Foundation etc.
2. For-Profit with goal- driven strategies
These social entrepreneurs operate organizations that are both social and commercial, and the organizations are financially independent. This is also a social purpose business that performs social and commercial entrepreneurial activities simultaneously for achieving sustainability. The examples include Microsoft, Grameen Bank, DripTech, Revolution Foods etc.