Entrepreneurship is a term that has recently spread in economics, and it simply refers to individuals who have brilliant ideas and strive to achieve them.
What do we mean by social entrepreneurship?
The concept of social entrepreneurship is still developing since its emergence in the early nineties until now. It is mainly characterized by the desire to subject economic performance to standards of public interest, as material profit is no longer the ultimate goal of business, but rather a means to achieve broader goals with social, development and environmental priorities. Consequently, institutions that adopt this concept often adopt a legal framework that is consistent with their nature, and includes principles of social responsibility and sustainable development, such as associations or cooperatives, which is the most favorable legal framework in the social and solidarity economy.
The social entrepreneur also responds to a societal or environmental problem or need, trying to satisfy his sense of self-satisfaction by searching for influence through his responsible behaviors towards his community. In order to become a social entrepreneur, you do not need to acquire the ingredients of a champion, but rather all you will really need is a responsible awareness of the impact of your actions and professional decisions on the economic, social and environmental dimensions of your society.
What are the four pillars of the social enterprise?
Social entrepreneurship differs from classic entrepreneurship in terms of commonalities and idiosyncrasies. Which revolves around four main pillars:
The economic feasibility of the project
The project must meet a real need, which is determined by studying the market, with potential risks like other economic projects, and aims at positive profitability to increase wealth in order to create job opportunities.
Social and environmental goals
The key to this is to establish a business that aims to create “social value,” both for interested individuals and for society as a whole. The elements upon which the institution is based are: access to health services, energy provision, quality of housing, reduction of unemployment, and promotion of local production and consumption.
Framing profits
Depending on the legal status of the enterprise, profits are primarily reinvested to achieve optimal achievement of social and environmental goals. As for personal profits, they are limited and strictly controlled.
Sharing responsibilities and good governance
“Participation” is the main principle in the management field in social entrepreneurship. Participation in decision-making and governance in management reduces individual perception and bias towards private interest, as all concerned parties are involved, including managers, employees or clients, private or public financiers, and local political and administrative bodies.
Now, dear reader, write down 11 reasons that motivate you to become a social entrepreneur:
1. Social enterprise does well in times of crisis, unlike other for-profit businesses. As we see now that we live in a society of luxury and the satisfaction of desires, a society characterized by ego and love of ownership and the decline of the community of solidarity and solidarity. Therefore, social initiatives only revive and repair what capitalism that is hungry for profit has corrupted.
2. Social entrepreneurship brings meaning to everything you do, and makes you enjoy the impact of your initiative on people's lives.
3. Social entrepreneurship gives you many opportunities to create innovative business models as it is based on achievement and impact.
4. Social entrepreneurship appeals to generations Y and X in search of meaning; They are two generations seeking to invent alternative economic models in order to change the world for the better, and they also play a crucial role in society.
5. Social entrepreneurship helps in the emergence of new models of hybrid business, which are characterized by the combination of financial profit and contribution to sustainable development.
6. The difference and diversity of social entrepreneurs creates diversity in projects, in line with the needs of society as a whole (atypical employers).
7. Impact on the international scene, reliance on the flow of information and the spread of the idea to be applied in other countries.
8. Being a social businessman, you will finally know how to express your career to your children in simple and direct terms such as (I will save the world ...), which contributes to raising generations aware of their behavior and the extent of its impact on their surroundings.
9. Away from running and indulging in practical life and the pursuit of the unbridled desire for ownership, you will discover the value and meaning of life in your social project, trying to find a balance between professional and personal life.
10. Social entrepreneurship pushes your creativity to its limits. It makes you think outside the box and takes you out of your ego.
11. In 10 or 20 years' time, the economic model for social work will become the most popular model compared to other economic models.
