What is social entrepreneurship? This is one of the most sought after subjects recently and one that is growing a lot around the world. But few can understand it and, mainly, work it the right way .
And, thus, improve and truly transform the reality of many places! So, now understand in a practical way what social entrepreneurship is, real examples and its main advantages! You want to receive tips and information to set up your own business.
So subscribe to this channel and stay on top of everything you need to know to start your own business. To try to make this matter clear to you, let's address the following points: 1. WHAT IS SOCIAL ENTREPRENEURSHIP?
2. ITS 3 PILLARS TO WORK 3. ITS MAIN ADVANTAGES 4.
REAL EXAMPLES OF SOCIAL ENTREPRENEURSHIP So, let's go! 1. WHAT IS SOCIAL ENTREPRENEURSHIP?
First, social entrepreneurship is a form or type of entrepreneurship. Basically, it is a concept that makes it possible to build businesses that aim to have a greater impact and improvements on society. Be it local or even global too.
And in this way, entrepreneurs create measures that can be profitable, but at the same time have social improvements. In other words, social entrepreneurship makes these businesses have as their main objective, meeting the social needs of the places where they operate and contributing to change the reality of their consumers. Social enterprises must sell products or services capable of increasing people's quality of life and contributing to changing social realities.
As well as enabling the company to sustain itself and grow as well. The term social entrepreneurship means that the business, in addition to being profitable, needs to bring development to society. In a way, we can say that it is necessary to be profitable financially, but mainly, socially, to do good for society.
A social enterprise seeks solutions to social problems with the logic of the market, offering quality products and services , helping to combat or reduce inequalities, promoting inclusion, generating income. And yet, they are economically profitable. But what is the difference between traditional entrepreneurship and social entrepreneurship?
Traditional entrepreneurship makes companies offer services and products to society. And that way, profit from the sales that are made. In social entrepreneurship, the profit on sales also happens.
However, the main objective here is to bring more quality of life to people, to the society in question. Likewise, traditional entrepreneurship can even work some type of action to benefit society or some social cause. However, in social entrepreneurship, social causes are the main focus and reason for the existence of these companies.
It is the main pillar. And yet, in traditional entrepreneurship, companies seek to serve a specific target audience that can pay for their products or services offered. In social entrepreneurship, companies seek a socially deprived audience, even marginalized and not served by traditional entrepreneurship.
And that's exactly why it can be profitable, yes, but its main objective and purpose is to be able to serve the needy, neglected or very disadvantaged public. But be careful because social entrepreneurship depends a lot on the context in which it is inserted. Because many times, a product/service can be considered social in one scenario, but not in another.
For example: offering electricity in a big city like New York is a service that is already done on a large scale, where practically everyone has access to electricity. However, offering this service in a small and remote town where there is no electricity is something that social entrepreneurship would enter. Did you see the difference?
2. ITS 3 PILLARS TO WORK In summary, there are 3 main pillars for working social entrepreneurship. The diagnosis, opportunity identification and creation of a new reality.
DIAGNOSIS The first step is to identify a problem, something that is hindering a certain segment of society, such as injustice, exclusions, among many other points. Generally, the people most impacted by these issues do not have the financial resources, power or even the influence to find a solution. Other very common examples are: poor quality education, digital exclusion, lack of housing, poor medical care, unemployment, social exclusion (such as the LGBT community, people with physical disabilities, ethnic groups, among others).
OPPORTUNITY IDENTIFICATION Once the diagnosis has been made, now is the time to transform the identified social problem and turn it into a business to solve this same problem. In other words, set up a company that offers some kind of solution to the public affected by this identified problem. And this work is done with the entrepreneur's initiative together with their ability to form motivated, engaged, inspired and courageous teams to transform this reality identified in the diagnosis.
That they really believe in the core purpose of the business. CREATING A NEW REALITY Now, it's time to get your hands dirty and implement your new business in social entrepreneurship. In other words, it's time to create a stable new balance that unlocks untapped potential or alleviates the suffering of the target audience.
All of this is done through the creation of an environment that creates the possibility of a better future for its audience and for society in general. 3. ITS MAIN ADVANTAGES Social entrepreneurship makes companies transform the lives of people in need through their businesses, but in such a way that they are still profitable.
And transforming these people's lives is what really drives the business of social entrepreneurship. Likewise, innovation is something that can be greatly exploited. Entrepreneurs with social vision will have a very large field to explore and implement new ideas.
In ways that help solve social problems , but at the same time be economically viable. And so, reap great results ahead. Besides, having to be profitable to be able to function, survive and grow, in social entrepreneurship it makes all the difference.
In this way, the company is able to walk on its own legs, without relying on financial aid or something similar. That can happen, but it's not the company's focus. This is different when compared to philanthropies such as NGOs.
Which usually depend on donations, financial aid, among other points. And in social entrepreneurship, different types of support usually exist. Companies, investment funds , investors, among others, usually support this type of initiative.
And in that way, having a more solid foundation and an initial push is much more likely to happen to start your own business in social entrepreneurship. 4. REAL EXAMPLES OF SOCIAL ENTREPRENEURSHIP GRAAC Support Group for Adolescents and Children with Cancer, is an institute created with the objective of providing children and adolescents with cancer with quality medical treatment.
Its purpose is to be a medical center of reference in teaching, research, diagnosis and treatment of childhood cancer. And throughout its history, it has treated and cured thousands of patients. And it continues to invest in its growth to be able to serve even more patients to improve its service to society.
GRAMEEN BANK The Grameen Bank, located in Bangladesh, is the world's first bank specializing in microcredit for the poorest people to be able to undertake. And in this way, give this audience the opportunity and possibility of a better life. It even won the Nobel Peace Prize in 2006 together with its founder and founder: the Bangladeshi professor Muhammad Yunus.
And Grameen Bank continues to grow and operate in several countries, always focused on helping low-income people get credit to build their own business and transform their lives. Did you see how social entrepreneurship is very interesting and has a very valuable purpose? Of course, building a company that helps to solve social problems/needs and still be self-sustaining is a great way to be an entrepreneur.
And thus, leaving a valuable legacy for society and the world. And if you want to get started in social entrepreneurship, we highly suggest putting together a business plan. And if you want to understand how to put one together the right way, be sure to check out our playlist that shows you everything you need to know.
For that, just click on this button up here or on the link we left in the description, okay? And just to recap what we said here: 1. WHAT IS SOCIAL ENTREPRENEURSHIP?
2. ITS 3 PILLARS TO WORK 3. ITS MAIN ADVANTAGES 4.
REAL EXAMPLES OF SOCIAL ENTREPRENEURSHIP We hope you enjoyed! And if you want to know more about how to set up and manage your own business, go to our Youtube channel that we have several videos on this subject, okay? And if you liked it, share this video with your friends and family to help them too!
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