Take a few minutes to reflect upon the following questions:
Has your understanding of social entrepreneurship changed, and if so, how?
Why do you think that social entrepreneurs and social enterprises are important?
** NOTE: If you have joined the forum and are interested in the conversation, please feel free to visit the OERu course on Social Entrepreneurship in the digital age.
Yes. There is much of a difference between commercial entrepreneurship and social entrepreneurship. Social entrepreneurship is quite complex and channelizes all its activities for a social impact. It does so by bringing in social innovation into its daily activities and does business with its products and services only to self sustain with its revenues and reinvest major part of the revenue into the business, in order to achieve its social mission.
Social entrepreneurs work to achieve a social cause by innovating their business module through a particular product that provides revenue towards sustenance of the enterprise, at the same time having a social impact on the lives of its beneficiaries. This is unlike commercial entrepreneurship which concentrates on channelizing its profits to the promoters and stakeholders of the enterprise, but need not necessarily have any social improvement goal. Conservation of natural resources is part of the business process of a social enterprise. Example : Green Planet initiative of STREATS in Australia