Performance Management – Meaning, System and Process
Definition of Performance Management The role of HR in the present scenario has undergone a sea change and its focus is on evolving such functional strategies which enable successful implementation of the major corporate strategies. In a way, HR and corporate strategies function in alignment. Today, HR works towards facilitating and improving the performance of […]
Evaluation of Reward Processes
Need to Evaluate Reward Processes It is one thing for organizations to institute reward processes and it is another thing for them to evaluate whether the reward processes are being effective. In other words, organizations need to constantly evaluate whether their reward processes are serving the purpose for which they were instituted. For instance, despite […]
Why Technology Can Diminish the Role of HR Function, but, Not Eliminate It Altogether
Why Futurists are Excited and HR Professionals are worried about Technology Of late, there has been much talk about how the latest technologies such as AI or Artificial Intelligence, Big Data Analytics, and Automated HR or Human Resources activities can eliminate the need to have dedicated HR staff. The thinking of these experts who proclaim […]
The Age of Oversupply: Why the Future Would be Demanding on the Present Generation
The Paradox of Too many People, Capital and Too Few Jobs and Resources The present times are characterized by an oversupply of everything related to the job market and the presence of so much capital at the disposal of companies. On the other hand, the physical resources needed like oil, gas, minerals, and water are […]
Components of a Career Development System
A career development system includes a variety of components for use in the organizations. In order to increase the efficiency of the system, the HR mangers must have complete knowledge about these tools since they play a role of consultant when employees and supervisors use this system. Plus, they are responsible for designing and developing […]
Social entrepreneurship is all about recognizing the social problems and achieving a social change by employing entrepreneurial principles, processes and operations.
It is all about making a research to completely define a particular social problem and then organizing, creating and managing a social venture to attain the desired change.
The change may or may not include a thorough elimination of a social problem. It may be a lifetime process focusing on the improvement of the existing circumstances.
While a general and common business entrepreneurship means taking a lead to open up a new business or diversifying the existing business, social entrepreneurship mainly focuses on creating social capital without measuring the performance in profit or return in monetary terms.
The entrepreneurs in this field are associated with non-profit sectors and organizations. But this does not eliminate the need of making profit. After all entrepreneurs need capital to carry on with the process and bring a positive change in the society.
Along with social problems, social entrepreneurship also focuses on environmental problems. Child Rights foundations, plants for treatment of waste products and women empowerment foundations are few examples of social ventures.
Social entrepreneurs can be those individuals who are associated with non-profit and non-government organizations that raise funds through community events and activities.
In the modern world, there are several well known social entrepreneurs who have contributed a lot towards the society.
The founder and manager of Grameen Bank, Muhammad Yunus is a contemporary social entrepreneur who has been awarded a Nobel Peace Prize for his venture in the year 2006. The venture has been continuously growing and benefiting a large section of the society.
Rang De is another brilliant example of a non-profit social enterprise.
Established in the year 2008 by Ramakrishna and Smita Ram, it is an online platform from where rural and urban poor people in India can access micro-credits with an interest rate of as low as 2 percent per annum.
Lenders from all across the country can directly lend money to borrowers, track investments and receive regular payments online.
The George Foundation is one more nationally recognized social enterprise. The Women’s Empowerment Program creates awareness among women by providing them education, vocational training, cooperative farming, business development and savings planning.
By employing the principles of social entrepreneurship, these organizations are addressing the social problems and bringing a positive change in the society.
There are several other organizations that are considered as a positive changemakers in the society.
Echoing Green, The Canadian Social Entrepreneurship Foundation, Schwab Foundation for Social Entrepreneurship, The Skoll Foundation, NIKA Water Company, Newman’s Own and Ashoka: Innovators for the Public are such organization that aim for bringing social change and continuously improving the existing conditions in the society.
The field of social entrepreneurship is rapidly growing and attracting the attention of numerous volunteers.
It has now become a common term in university campuses. The reason behind the increasing popularity of this product is that individuals get to do what they have been thinking for long. The extraordinary people put their brilliant ideas and bring a change in society against all odds.
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What is Social Entrepreneurship and Why the World Needs More Social Entrepreneurs
February 12, 2025
Who is a Social Entrepreneur ? – Famous Social Entrepreneurs
February 12, 2025
