Business & Change – Ways to Give Pace to Social Entrepreneurship

The business model of social entrepreneurship targets at combining the change in society along with profit making. This idea is full of potentials which can turn into one of the most effective forces to make the world a better place to live.

Social enterprises do not just aim at solving the current problem. Instead of providing an instant solution for a certain problem, they target at a complete transformation of the situation. The word ‘better’ is not accepted by the social entrepreneurs as they have set the goal to attain nothing less than ‘the best’. Those days are gone when social entrepreneurs worked in a restricted field and now is the time when the activities in this field are just booming with possibilities and scopes. The basic principles of social entrepreneurship are the combination of ideas from both government and commercial business. The initiatives taken by governments come through mandatory legislation with the sole purpose of doing something good for the entire society. On the other hand, the business outlook is absolutely different where the customer is the primary beneficiary and every step is taken by keeping this in mind. Social entrepreneurship is successful in making the unique combination of these two principles and the result is astonishing.

The opportunities in social entrepreneurship can be better understood when the various stages of transformation are identified. ‘Understanding the needs’ is the first step which is followed by the successful envisaging of the better future. The solutions are sorted out with the goal of removing the root cause of the problem. This step is followed by building of concrete model plan that can work without failing. Judging the scale of scope is equally important and creating the perfect model depends entirely on judging the right scale, before jumping into the real action.

According to Professor roger Martin, scale and cost are the vital (and determining) factors for a successful social entrepreneurship venture.

 http://city-press.news24.com/Business/business-and-change-heres-how-to-ace-social-entrepreneurship-20160921

Innovative Social Entrepreneurs to Dominate Future

Reactive and Social Enterprises

The futuristic business revolves around the social enterprises. And innovative ones do find a place naturally in becoming a recognizable model. Keeping an eye open to the ever-changing concepts and outlook makes all the difference.

The supply demand theory introduced by Adam Smith came from the ideas of entrepreneurship of that day. The very definition of ‘the entrepreneur as a supplier of what the customer wants’ did change in present day context. The conceptual transformation is in the thinking of uncertain and volatile situations. The transformation is not only towards adaptability to the changing demand pattern but also to create demand. Here is where the social innovation shall have a significant role to play.

 

Anticipating the Unknown

 

Entrepreneurship is the art of anticipating what the reaction of the consumer would be. The positive response or reaction will solely depend on the ‘homework’ put in by the business person. The entrepreneur should be reactive and responsive enough to notice the dynamic nature of the need. The faster the reaction to the social media, the better would the result. Pushing the goals post further and circumventing the expected stumbling blocks should thus be the prime concern.

Pre-emptive Social Entrepreneurship

A new catalyst called Pre-emptive Social Entrepreneurship emerges as the formidable choice for the future survivors. The successful outsourcing process will result in more involvement and creativity. A classic example is the venture Business Collective which was introduced in partnership with Citi. These young and somewhat revolutionary entrepreneurs do find a stumbling block in their journey. But the difference is that they convert those stumbling blocks to their advantage. That is the right spirit. Autism or retarded mind which is usually seen as deterrent factors in business are changed to all new opportunities.

Business Collective

Business Collective, launched in partnership with Citi, is a virtual mentorship program powered by North America’s most ambitious young thought leaders, entrepreneurs, executives and small business owners.

 http://www.blackenterprise.com/small-business/reactive-entrepreneurs-can-prepare-future-business/

www.businesscollective.com