SOCIAL ENTREPRENEURSHIP

WHAT IS SOCIAL ENTERPRISE

Normal enterprise Created to leverage an opportunity Social enterprise Created to solve a social challenge or a need that exists in society.

High risk potential Created for the benefit of small groups

Focuses on return for the owners. The inherent motive of employees going to work is salaries and the benefits provided to them.

Low risk potential Created for the benefit of larger community.

Focuses on returns for the receivers' of the service. The primary motive for employees is the Satisfaction or the feeling of goodness that prevails by ensuring that that benefit is transmitted.

CHARACTERISTICS OF SOCIAL ENTERPRISE

Social cause is the basic mission Employees seek satisfaction from service Low risk potential Has a larger involvement from society. Measure is impact received from the receiver. Aims to generate surplus to sustain.

MEASUREMENT OF SUCCESS OF A SOCIAL ENTERPRISE

Impact on social cause or effectiveness Sustainability of the activities Satisfaction levels of volunteers and employees involved in social enterprise Adaptability. Alignment and commitment to long term goals

DIFFERENCE BETWEEN SOCIAL ENTERPRISE AND SOCIALLY RESPONSIBLE ENTERPRISE

Social enterprise Purpose to address a cause and solve problem at hand Came up due to an existential social cause Commitment is to service the need and maintain the profitability Socially responsible enterprise Purpose is contribute to the local society and become more responsible institution Emerged due to the need to give back to society and also create a positive image. Commitment is in channelizing the resources either financial or non financial for the cause. Main purpose of existence is commercial profit. Business is driven by commercial gains.

Tendency to move towards commercially inclined activities is low.