Creating Social Value: The Joys and Perils of being a Social Entrepreneur
While surfing the net, I recently came across a list of the top ten social entrepreneurship heroes in India. The list had Mahatma Gandhi as the first entry, and the others that made the grade were Dr. Verghese Kurien, Vikram Akula, Sam Pitroda, and Sunil Bharti Mittal. If this list appears somewhat eclectic, it is only because the term Social Entrepreneurship does not have a standard definition. It is usually referred to the type of entrepreneurship that is concerned with finding a solution for a social problem, and then applying the solution at scale. Unlike conventional (or commercial) entrepreneurship, where the focus is on maximizing returns for the shareholders irrespective of whether the enterprise has a social benefit, the focus of a social entrepreneur is on maximizing returns for the society. A social enterprise can be structured as a non-profit or a for-profit, is generally philanthropic in nature, but is not dependent on charity for its sustenance. In the Indian co...