What is Social Entrepreneurship?

The main role of entrepreneurship is to stimulate economic progress through action and innovation. An entrepreneur is usually motivated by the idea of changing a situation and always initiates direct action rather than waiting for instructions.

Social Entrepreneurship is all about identifying the social problems people face every day and achieving a social change by implementing entrepreneurial processes, principles, and operations.

It involves finding a solution to a social problem before creating, organizing, and then managing a social venture in an effort to attain the desired change. The change can be a lifetime process that focuses primarily on the improvement of the existing circumstances.

Entrepreneurship involves taking a lead to diversify the existing business or open up a new business. Social entrepreneurship focuses mainly on generating social capital and it doesn’t measure the level of performance in returns or profits.

Although this type of entrepreneurship is centered on non-profit making, it still creates the need to make a source of income. In addition, social entrepreneurship also works to solve environmental problems besides social problems.

A few examples of social ventures include women empowerment foundations, plants for the treatment of waste products and child rights foundations.

The Concept of Social Entrepreneurship

The main idea of social entrepreneurship is not only centered on solving problems and unpleasant situations in society but also directs the focus of an organization towards social benefits.

The reasoning behind it is that nonprofit businesses can also benefit from the primary focus of profit-centered businesses. This will require a sound strategy, customer focus, efficient operations, effective planning, and financial discipline.

A social entrepreneur can be a person associated with non-government or non-profit organizations that raise their funds through community activities and events.

Although most entrepreneurs are usually motivated by the potential of earning a profit, it doesn’t prevent an ordinary entrepreneur from creating a positive impact on the lives of other people in society.

How Social Entrepreneurs Take Action

Social entrepreneurship in modern times may be integrated with technology assets to provide more access to knowledge resources and widespread information.

A good example is providing high-speed internet connectivity to the remote communities. Another way people express social entrepreneurship is through the development of mobile apps that address the needs of the community.

This can include giving people ways to alert the city administrations about patterns of repeated traffic accidents, downed power lines, and burst water mains. Social entrepreneurs give voice to the community through technology by creating apps to report infractions that have been committed by law enforcement or city officials.

Why Has Social Entrepreneurship Gained Popularity?

Social responsibility is a differentiating factor in the age of heightened competition as it allows many organizations to appeal to certain buyer demographics.

Employees now have to make a choice on who they want to work for and most of them go for companies with high earning potential and strong missions. Financial pressures are worsening the existing social problems in the current economic crisis such as unemployment and poverty.

Social entrepreneurship is necessary as it mitigates the financial repercussions experienced today on the most vulnerable in the society.

Bottom Line

The field of social entrepreneurship continues to grow rapidly and it attracts the attention of many volunteers who are willing to create a positive impact on society. It has now become a popular term in university campuses and various social media platforms.

The main reason why social entrepreneurship has grown in popularity is that people can get to execute an idea they have held on for so long. The social entrepreneurs combine their brilliant ideas and implement them to bring a significant change in society.

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Top 10 Articles of 2015 in HR Tech, Recruitment, Startups and Around

Written by Alexey Mitkin, exclusively for The HR Tech Weekly blog.

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There is no other best time to present somebody’s top 10 (15 or even 20) chart of something than the end of the year. The HR Tech Weekly, at your service, is following this good tradition, and compile it’s own Top 10 Articles of 2015 in HR Tech, Recruitment, Startups and Around. 

We did not use any other metrics to include the article in the list than it made the difference for us at any reason within the year.

There is a great number of the bright posts from other tremendous authors, blogs and digital sources at any scale beyond the entire chart but worthy to be named among the best content of the year for sure.

This is our proprietary choice, and here we go!

1. Costas Markides: the New Future through the Digital Revolution

Written by Saida Ayupova, being Content Manager at HRN Europe | Originally published in the HR Tech World Blog

2. It’s Time to Move Past Talent Management to a People-Focused HR Strategy

Written by Josh Bersin, Principal and Founder of Bersin by Deloitte | Originally published in the Human Resources Executive Online

3. The Secret to Recruitment Success – Seriously

Written by Greg Savage, Principal at Greg Savage-The Savage Truth | Originally published in The Savage Truth Blog

4. How CloudLock Built Its Employer Brand: 5 Steps You Can Follow

Written by Ed Nathanson, Founder of Red Pill Talent | Originally published in LinkedIn Talent Blog

5. Stephen Hawking Says We Should Really Be Scared Of Capitalism, Not Robots

Written by Alexander C. Kaufman, Business Editor at The Huffington Post | Originally published in The Huffington Post

6. What Does Social Entrepreneurship Mean to Actor Adrian Grenier?

Written by John Kell, Reporter at Fortune Magazine | Originally published in Fortune

7. HR Tech 2015: Now Everybody Wants To Be The “Uber Of Recruitment”

Written by Tim Sackett, President at HRU Technical Resources | Originally published in ERE Media TLNT | Talent Management and HR

8. Take This Template And Shove It: How We See Managing Millennials

Written by Mark V. Herd, CEO at Oracle | Originally published in LinkedIn Pulse

9. Startups – The End or Beginning of a Great Story?

Written by Avisha Verma, Content Associate at People Matters | Originally published in People Matters

10. Recruitment Predictions for 2016: HR Technology

Written by the skeeled.com Team | Originally published in the skeeled.com Blog

Featured Article: SnapRecruit: New Recruitment Workflow App for Startups & Small Businesses

Written by the SnapRecruit Team | Originally published in Wizoid

Staying tuned in the Cloud for disruptive updates! See you there!

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