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SOCIAL ENTREPRENEURSHIP

Name: Ishang Pateliya


Index No.: 8549
Course: B.B.A. (Sem-4)

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Table of Contents
Introduction................................................................................................................................... 3
Definition......................................................................................................................................... 4
Social Entrepreneurship and ROI ....................................................................... 6
IRIS Metrics ............................................................................................................................. 6
Social value UK................................................................................................................... 6
Social Value Tools and Software .................................................................. 7
Bill Drayton: A Famous Entrepreneur......................................................... 7
References ...................................................................................................................................... 8

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Introduction

Social Entrepreneurs are a society’s change agents, they are


people who create innovation that disrupt the status and
transform the world. By knowing them and bringing positive
change, we empower them to extend their reach, strengthened
their impact and fundamentality improve society.

The range from Fruchterman, using technology to address


social problems such as the reporting of human rights violations,
to John Wood of Room to Read, helping underprivileged
children through literacy. They include Marie Teresa Leal,
whose sewing cooperative in Brazil respects the environment
and fair labor practices, and Inderjit Khurana, who teaches
homeless children in India at the train stations where thy beg.

Social entrepreneurship has gained renewed currency in a


world ever more divided between haves and the have-nos. They
distinguish themselves from other social venture players by
doing, not talking. They are relentlessly focused on impact.

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Definition

There is a large number of definitions of Social


Entrepreneurship that are used to depict the phenomenon,
expresses the amount of excitement and interest around the
topic. Some of the definitions are as described below.

“ Person who has special sensitiveness to detect


opportunities and the capacity to move other resources, which
belong to others.”1

Social entrepreneurship describes the discovery and


sustainable exploitation of opportunities to create social and
environmental benefits. This is usually done through the
generation of disequilibria in market and non-market
environments. The social entrepreneurship process can in some
cases lead to the creation of social enterprises. These social
ventures are hybrid organisations exhibiting characteristics of

1
Nueva, 2001, p 35

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both the for-profit and not-for-profit sector. Individuals
engaging in social entrepreneurship are usually referred to as
social entrepreneurs, a term that describes resourceful
individuals working to create social innovation. They do not
only have to identify (or create) opportunities for social change
(that so far have been unexploited), they must also muster the
resources necessary to turn these opportunities into reality. A
typical example is Muhammad Yunus, founder of the Grameen
Bank (Bangladesh) and recipient of the Nobel Peace Prize in
recognition of his contribution to poverty alleviation through the
invention and popularisation of microfinance.2

Today many foundations aim to identify and promote social


entrepreneurs. Two prominent examples are Ashoka and the
Skoll Foundation. These so-called venture philanthropists adopt
methods from the domain of venture capital, for example,
encouraging social entrepreneurs to provide detailed business
plans and to measure and report systematically on their social
performance. Social return on investment (S-ROI) analysis is an
example of an emerging tool aimed at describing the social
impact of social entrepreneurship in dollar terms, relative to the
philanthropic investment made.3

2
Wee-Liang, The international Entrepreneurship management Journal.no. 3 (2005): 353-365
3
The A to Z of corporate social responsibility. Hocherts, K. 2007

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Social Entrepreneurship and ROI

Public websites that work with standards and performance


metrics to measure the social, environmental and financial return
on investments:

IRIS Metrics

“IRIS is a catalog of generally accepted performance metrics


that leading impact investors use to measure social,
environmental and financial performance o their investments”.4

Social Value UK

“Social value UK is the notional network for anyone interested


in social value and social impact. They work with the members

4
Global Reporting Initiative, p 4

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to increase the accounting, measuring and maximizing of social
value from the perspective of those affected by an organization’s
activities through their social value, Principles.

Social Value Tools and Software

A directory of software platform measure social value.

Bill Drayton

William Bill Drayton was one of America’s 25 Best


Leaders in 2005. He is responsible for the rise of the phrase
“Social Entrepreneurship”.
Bill Drayton’s philosophies of social entrepreneurs are
individuals with innovative solutions to society’s most pressing
social problems. A quote about Drayton, “Social entrepreneurs
are not content just to give a fish or teach how to fish. They will
not rest until they have revolutionized the fishing industry.”5

5
J Banks, The Sociology of Social Movement, London, MacMilan, 1972.

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References

Wee-Liang “ Defining the Social” in “Social Entrepreneurship”:


Altruism and Entrepreneurship. The international Entrepreneurship and
Management Journal
Global Reporting Initiative: Linking GRI and IRIS
The Sociology of Social Movement, 1972

https://en.wikipedia.org/wiki/Bill_Drayton
http://libguides.usc.edu/entrepreneur/socialent
http://archive.skoll.org/about/what-is-social-
%20entrepreneurship/

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