All About Social Entrepreneurship and Effective Altruism
In the past few months, social entrepreneurship has captured the hearts and minds of policy makers and researchers. According to experts, social entrepreneurship focuses on an altruistic mode of capitalism that can connect various enterprises together. Though social entrepreneurship doesn’t have a fixed definition, it is hard to survive without it. In fact, it is very difficult to develop policies or even research around economies.
In this short article, you will read about social entrepreneurship and how it has impacted the globe.
Who is an entrepreneur?
By definition, entrepreneurs are people who manage or own a business. They engage in initiatives and risky attempts to make profits. A person can be marked as an entrepreneur if he/she is capable of making business profits through innovations. Entrepreneurs become stronger when they are able to face risks. Both innovation and risk can be categorized into different degrees. That is why entrepreneurship comprises of several degrees. For example, Steve Jobs is several times entrepreneurial than many other players in the same domain. Indeed, his products and ideas were innovative.
Who is a social entrepreneur?
Social entrepreneurship stresses on two different sources: the altruistic nature and social involvement. A person can be known as a social entrepreneur if he/she makes profits for the society. Regardless of the risks, if your product is able to make profits for the society, you are a social entrepreneur. However, this falls short in certain places. There will be a considerable amount of sense, where a person’s entrepreneurial activities are not found within a specific society. That is because, the activities don’t have people who can benefit. This could be the process of winning cooperation or acceptance from a specific social group. A good example to demonstrate such industries would be “Fashion”. In simple terms, a person can be identified as a social entrepreneur if he/she attempts to profit for a group of people or the society through innovations.
Many legal entities like societies, unincorporated associations and corporations can be a part of altruistic entrepreneurship but a little more social.
What are the different degrees of altruism?
When it comes to altruism, there are several degrees to focus on. If a person focuses on profit only with the society in mind, they are definitely more altruistic than those who want the society and their dear ones to benefit. To be altruistic, you should be able to suffer personal challenges and loss. This means, altruists can be categorized as:
- Profits for thy self
- Profits for the society
- Profits for the society and thy self
- Profit for thy self through the society
- Globalie Blog Team
( Globalie - The Global Innovation Ecosystem, or Globalie, is an independent, non-partisan, coalition of international leaders focused on social enterprise )