Entrepreneurship has an essence of its own, but social entrepreneurship is a completely new league in itself. Generally people do business to make some personal profits and gain from the current market aspects. But there are some who even think of returning it back in certain amount to the society where they belong. They use their business acumen to further their activities and make some social cause. Generally such entrepreneurship is ideally restricted to the non profitable organizations, but in the 21st century, such more than profit ventures are on the rise. As a result of it, the entrepreneurs are starting up with business policies that will help both their personal lives as well as the society. And this dual benefit has given the entire idea a boost and amidst all this, the current economic recession finds an alternative way to get over it.
While analyzing the reasons behind the economic recession that the world faces, experts like Rene Escobar Bribiesca has expressed that it is the basic old business standards followed that has led to such a condition. Even nowadays irrespective of the cost involved in doing business, the most of the profit ratio always reaches the those who’re at the top of it. Such business policies have led to conditions where there are huge number of unemployment, dramatic fall in the rates of foreclosures, and a continuous economic distress for all except those on the top. Hence the social entrepreneurs have targeted this particular section of problems and by using the several entrepreneurial techniques they have been trying to mitigate them. From the urban sectors to the core rural areas, the social entrepreneurs have started with for profit businesses with an eye on resolving the social issues through philanthropy and providing services to address the problems that are closest to the owner’s hearts.
To many, the term of social entrepreneurship might be alien, but it is not a new concept at all. The term, for the first time, was introduced in the academic and social aspects which were focused on literature in the early 1970. With a couple of decades rolling, it gained popularity with the entrepreneurs learning the techniques, knowledge and skill to encourage the ideas and endorse on projects that would strive for the betterment of the society. With one more decade to come by, these ideas will be the craze as people will identify the opportunity of earning some bucks against the facade of helping and improving the society on whole.
Even the print media and other social networking platforms have highlighted the social entrepreneurs and this has imbued the sense of maintaining the corporate discipline to tackle the daunting problems of the society as well. For those who want to be a part of this cause, it doesn’t mean that they are to be relegated to the low paying schemes of the non profitable sectors any more. Rather most of the entrepreneurs are finding it easier to get the exact change in being there with the for-profit sectors than in being anywhere else.
According to Rene Escobar Bribiesca the social entrepreneurs are wielding significant power with both local and industry communities and that is effective enough in changing the active participation in the social issues more.