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Case study 2 should companies embrace social business
Social entrepreneurship and its impact
Social entrepreneurship and its impact
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Entering the social business world is simply not an easy task to do. It is not as simple as how they make it seem to be. There will be a lot of obstacles, challenges and risks that the social entrepreneur will have to face and overcome. Social entrepreneurs are innovators as well. Social entrepreneurs see social problems and they create a way to address the social issues that they see. Addressing the issues they see will take time. It will take years and years of effort, hard work and persistence. All these efforts may sometimes not result to what the social entrepreneur had in mind. It may even fail to solve the social issue they are motivated to address but a true social entrepreneur doesn’t give up. A true social entrepreneur exploits all …show more content…
They see the problem they want to address and they use business means to face and fight these problems. He forms effective social organizations that help out in addressing and combating these problems. Having a solid groundwork for the foundations of social entrepreneurship is important in building up the social organization.
Social entrepreneurs want to fix social issues and problems. A social entrepreneur is involved with several issues such as the environment, business, government, economy, climate change, poverty, natural disasters, crime rate, terrorism and so on. Social entrepreneurs see these problems more than the rest and unlike the rest of the world; they want to do something about these issues and problems. A social entrepreneur focuses on one of these given issues and problems and uses the social business to tackle these issues and problems.
A social entrepreneur should start small. He should focus on a certain issue and problem and work his way up to bigger more defined goals while building up his social business success. A social entrepreneur may start small, but along the way, when he is building a name for himself, he may tackle bigger issues and problems and he may be able to use his influence to tackle and address other social issues and problems as
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For-profit businesses have “paid” employees whereas nonprofit organizations may rely on either paid or volunteer employees or both.
Social entrepreneurship involves working with others internally and externally to expand its networks. Social entrepreneurs take advantage of the surroundings and build relationships with other organizations as well. He establishes relationships and communicates with other organizations that share the same vision. Not only does he build relationships with other social businesses but also private for-profit companies as well. All these networks may help the social enterprise in achieving the enterprise’s goals and objectives.
A social entrepreneur will be face with challenges. He will be rejected, turned down, and fail repeatedly. The important thing to remember is that he should never give up simply because he failed or got rejected. Commitment is what he needs in order to achieve positive changes and in order to solve some of the social issues at
Being identified as a nonprofit, doesn’t necessarily mean it will be a charitable organization. Though the term has been applied to most nonprofit organizations, the fact is most nonprofits is structured using the economic model. The economic model is based on the traditional model of management designed to deal with the complexity of managing an organization (Bradshaw & Hayday, 2007, p. 4). This model acquires funding from multiple sources such as; individuals, government grants, corporations, and foundations. Though an nonprofit organizations may be identified by the Internal Revenue Service (IRS) as tax-exempt, it may use the same economic model and framework as a for-profit organization. According to Brainard & Siplon, (2004), the nonprofit economic model often mimics that of the private sector by using organized professionals to help determine the goals and vision of the organization (p. 439). It is widely believed that most nonprofits use the economic model along with an aggressive...
Social work practice is usually associated with working directly with a client in a facility or providing a home for a child. However, the social worker also associated themselves on a more larger scale to address issues and make changes in their community or even the world. In a macro-level, social workers focus on the community and the more large-scale like issues in the community. As a macro-social worker, they tend to work with large groups of individuals, communities, or major organizations. Therefore, endeavoring in a workplace is a concern for social workers as becoming competent in organizations is an important aspect of this type of social work.
The world is filled with many ambitious people looking to make a product to help the world and make a living for themselves and their families. These people are known as entrepreneurs. An entrepreneur is someone who organizes and operates a business or businesses while running the risk of losing everything to make money. One might ask why there is a risk ...
Nonprofits are organizations whose income is not used for the benefit or gain of stockholders, directors or any other persons with an interest in the organization. The nonprofit sector is very diverse; it includes tax-exempt organizations that are educational, scientific and cultural, as well as civic and social welfare organizations. Nonprofits usually work to advance a cause or interest or to accomplish some good work. Some job seekers overlook nonprofit organizations, assuming that opportunities are limited and salaries are uniformly low. This is not true.
Societies are interconnected meaning that what occurs in one nation can affect another. If social workers have a global perspective, they will be able to take what they learn about how one country handles a situation and either follow their model or change it in order to start something new and helpful. Although there are common issues worldwide, they might require different approaches to find solution. Social workers that have been exposed to another social welfare system will make social workers aware that there are alternative and perhaps more effective solutions to social problems that have not been applied in the United States (Engstrom, 2007). We are all affected at varying degrees by the changes in the earth’s ecology, events in world history, and developments of various kinds initiated by one branch or component of the human race such as western corporate capitalism (Cox & Pawar, 2006, p. 38).
Nonprofit and for-profit businesses have multiple similarities and differences. For-profit organizations are very different from non-profit organizations because the driving goal of a for-profit organization is increasing its revenue whereas a non-profit organization will not go out of business if it suffers financial loss or does not have a bottom-line. The marketing process also differs, with the biggest differentiating factor of profit marketing is to encourage customers to buy and while the nonprofit marketing purpose is usually to encourage people to give. This means that the return on investment differs between the two. Although the principles of marketing remain the same, some of the methods must, of necessity, be different. Because of the intense involvement in the community as well as support from government, agencies non-profit firms should not compete in the same markets as for profit companies nor in anyway position their organization in any way to give the impression that their efforts could be commercial based (Nelson, 2002).
A person is involved with many elements and these can be school, work, church, friends, family, and the environment. These all play a major part in how a person behaves themselves. In order to help a person, you must first approach the problem in the element being presented and provide help in order to support the individual. For example, a child may come to school smelling of alcohol and marijuana and the issue is being reported by a mandated reporter. Firstly, a social worker must identify which element is the problem and find a way to implement change so that the issue does not recur. To correct that part of the system, a social worker must come up with a plan to make the system work because ultimately, if the element is corrupt, the whole system will
Government support for social economy entities is recognized in European Union, Brazil and Argentina. While in countries of Africa and Asia support is built by the citizens forums and networks on sustainable development and by United Nations agencies. Among policy themes on social enterprises are: improving access to financial resources; research for increasing understanding and visibility; capacity building; ac¬cess to public procurement.
Effective entrepreneurship recognizes potential business opportunities. Superior to a great many people, they concentrate on circumstances rather than issues and attempt to gain from disappointment.
These endeavors are controlled by shareholders either givers or poor people, and givers recover their underlying speculation, however any extra benefits made by the undertaking are furrowed once again into the work. To show his concept of a social business, Muhammad Yunus weaves through the book the intriguing contextual analysis of Grameen Danone, a joint endeavor amongst Grameen and the French multinational sustenance item organization Danone. Muhammad Yunus sees numerous sources from which these new social organizations can start: existing organizations, establishments, the World Bank and different offices, government improvement reserves, fruitful business people searching for a next movement, well off retirees, and late school graduates. In fact, these sources hold guarantee. Muhammad Yunus likewise trusts that social organizations would urge more individuals to give back: Many would discover building up and working in a social business more appealing than working for a philanthropy, given the renowned society agrees business people well beyond their money related achievement. Muhammad Yunus addresses the handy obstacles of making social organizations by compactly depicting the strides that must be taken if social organizations are to end up standard foundations. Advocates must build up an arrangement of lawful meanings of social business, alongside tax assessment and administrative principles. Social business benchmarks should then be set up and ensured. Muhammad Yunus trusts that distinctive sorts of autonomous accreditation and appraisals organizations will spring up to meet the requests of potential financial specialists and shoppers. I would include that legislature, guaranteeing offices, and the sheets of
Muhammad Yunus believes that social issues will be solved with the help of a social business. He elaborates about the details that social business would benefit the poor from its activities. One of Yunu's plan is his idea of a social stock market which investors who are socially focused would be interested about the buying and selling of shares in social businesses. He
It can be concluded that entrepreneurship cannot exist in the absence of innovation. Innovative entrepreneurship is the key to a successful business leading to economic development. Entrepreneurs are very prominent figures of society and therefore their actions and decisions have a significant impact on the welfare of stakeholder groups. Sustainability plays a vital role in this relationship in that it provides a solid foundation upon which a business can expand with more temerity and assuredness.
An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. According to Martin (2010) an entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. To have self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way. For example, When an almost bankrupt security company was offered to her, Datuk Maznah Hamid and her husband, who were eager to change their ordinary life, took the plunge and sacrificed RM5,000 of their saving. Only then she realized that apart from managing the operation, she also had to be a manager, a clerk, an accountant and a receptionist. To grow their business, they had to sell their house and moved to a slum that came without electricity. But she persevered. Today, it’s difficult to find someone who has never heard of Securiforce.
Social entrepreneurs drive social innovation and transformation in various fields including education, health, environment and enterprise development. They pursue poverty alleviation goals with entrepreneurial zeal, business methods and the courage to innovate and overcome traditional practices. A social entrepreneur, similar to a business entrepreneur, builds strong and sustainable organizations, which are either set up as not-for-profits or companies.
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.