CONTENTS

(Submitted To: -

(Submitted By: - ACKNOWLEDGEMENTThe experience that we have gathered during this Design Problem has been unique .For this we are pleased to express our deepest sense of gratitude and regards to our respected teacher Miss. Rajni Bhalla for their guidance, inspiration and constructive suggestions that helps us in the preparation of the design problem.

I am also thankful to my classmate constant encouragement and support.

INDEX

SL. NO.CONTENTSPAGE NO.

1Introduction4-5

2Being a Social Entrepreneur6-10

3Role of Social Entrepreneur11

4Why Social Entrepreneur?11-13

5Management Skills of a Successful Entrepreneur14-16

6Future of Social Entrepreneurship17-19

7Conclusion20

INTRODUCTIONSocial Entrepreneur: - Social entrepreneurs are individuals with innovative solutions to societys most pressing social problems. They are ambitious and persistent, tackling major social issues and offering new ideas for wide-scale change.Rather than leaving societal needs to the government or business sectors, social entrepreneurs find what is not working and solve the problem by changing the system, spreading the solution, and persuading entire societies to move in different directions.Social entrepreneurs often seem to be possessed by their ideas, committing their lives to changing the direction of their field. They are visionaries, but also realists, and are ultimately concerned with the practical implementation of their vision above all else.

Social entrepreneurs present user-friendly, understandable, and ethical ideas that engage widespread support in order to maximize the number of citizens that will stand up, seize their idea, and implement it. Leading social entrepreneurs are mass recruiters of local change makers role models proving that citizens who channel their ideas into action can do almost anything.Entrepreneur

Richard Cantillon (1755):

a person who undertakes and operates a new enterprise or venture and assumes some accountability for inherent risks);

J.B.Say (1803)

a person who creates value by shifting economic resources out of an area of lower and into an area of higher productivity and greater yield

J. Schumpeter (1934)

Unternehmer atau an innovative force for economic progress, important in the process of creative destruction and therefore as an agent of change.

Being a Social Entrepreneur:-The term social entrepreneur is used with increasing frequency. While used often, it can mean different things to different people. Wikipedia defines a social entrepreneur as someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. Here at the SiG@MaRS program, we refer to the ventures we support as Social Ventures.

So how does a social entrepreneur differ from an entrepreneur operating a technology business or in a traditional industry? Wikipedia continues whereas a business entrepreneur typically measures performance in profit and return, a social entrepreneur assesses success in terms of the impact s/he has on society.

Generally speaking, in terms of passion, drive, problem-identification and problem-solving capabilities, leadership skills and perseverance, the founders of social ventures and traditional entrepreneurial businesses are very much the same type of people. The difference is really what you are looking to maximize as the primary motivation for building your venture.

If you are a social entrepreneur, you: are primarily motivated by the social, ethical and/or environmental benefits that your organization will generate;

respond to urgent needs and act as a change agent to solve problems;

hope to achieve scale for your organization, in terms of impact, if not size; and

Want create some level of financial sustainability to ensure your organizations future, but those are likely secondary to the reason why your organization exists.

Muhammad Yunus, founder of the Grameen Bank (a microfinance industry leader), won the Nobel Peace Prize in 2006 for his vision of a new business model (social entrepreneurship) that combines the power of free markets with quest for social benefit. This social entrepreneur hoped tocreate a world without poverty by founding Grameen Bank.

Traditional entrepreneurs are also change agents. They make disruptive improvements to the status quo. However, they are motivated to create a market opportunity for the profitable sale of their products or services, resulting in increased shareholder value rather than by a fundamental social principle for why their organization exists.

There are several types of Social Venture organizations in which the social entrepreneurs we support at MaRS, thrive:

Social Enterprises (SEs)

Social entrepreneurs from the non-profit and voluntary sector are setting up this type of organization to become more self-sufficient and financially sustainable, but also to enhance their social mission and increase their impact. Social enterprises are revenue-generating entities generally owned and operated by a non-profit organization (which may or may not also have charitable status). Since there are no shareholders, any profits from the operation are re-invested into the work of the organization.

In order to distinguish SEs from traditional non-profit fundraising or revenue-generation activities, the BC Centre for Social Enterprise suggests that the SE must have a goal or mission beyond simply generating funds for its parent organization (selling chocolate bars or raffle tickets). It must demonstrate, through its business model, some activities that benefit the community in which it operates.

The ReStore retail outlets of Habitat for Humanity provide an excellent example of a social enterprise. Quality used and new surplus building materials are sold for a fraction of market prices. The proceeds from the retail outlets fund the construction of new Habitat for Humanity homes within the local community. In addition, the ReStores are recycling valuable construction materials for benefit of both the environment and the consumer.

Since social entrepreneurship is an emerging field, you will find some definitions for social enterprises that include for-profit businesses, but here at MaRS, we reserve the term to describe our non-profit social ventures.

Social Purpose Businesses (SPBs)

Social purpose businesses are commercial for-profit entities, created by social entrepreneurs to address social issues. SPBs maintain their social purpose at the core of their operations, while existing in the market economy and delivering shareholder value. Many successful examples can be found internationally focused on a range of societal challenges, ranging from environmental impacts through clean technology organizations to poverty reduction through microfinance initiatives like the Grameen Bank.

SPBs are also often referred to as having double or triple-bottom-lines referring to social and/or environmental benefits, in addition to traditional profits.

Traditional organizations doing social or environmental good

Wikipedia notes that while social entrepreneurs often work through non-profits (including charities) and citizen groups, many work in the private and governmental sector. These individuals are often referred to asintrapreneurs, defined as those practicing entrepreneurial skills within a larger organization, to bring about significant change. For social intrapreneurs, it is system changing solutions for urgent social problems that they seek to deliver

Role of Social Entrepreneur:-The expansion of social services in developing countries offers the greatest opportunity for social entrepreneurs to create systemic change. In the world of social entrepreneurship, emphasis is placed on selling products and services to the poor, overlooking the spending limitations that lower income families face. But slums are devoid of private schools and hospitals for a reason: the disposable income simply isnt there. Governments need to fill this gap in the most effective way possible, and social entrepreneurs are the solution

Why "Social" Entrepreneur?

Just as entrepreneurs change the face of business, social entrepreneurs act as the change agents for society, seizing opportunities others miss to improve systems, invent new approaches, and create solutions to change society for the better. While a business entrepreneur might create entirely new industries, a social entrepreneur develops innovative solutions to social problems and then implements them on a large scale.Historical Examples of Leading Social Entrepreneurs: Susan B. Anthony (U.S.): Fought for Women's Rights in the United States, including the right to control property and helped spearhead adoption of the 19th amendment. Vinoba Bhave (India): Founder and leader of the Land Gift Movement, he caused the redistribution of more than 7,000,000 acres of land to aid India's untouchables and landless. Dr. Maria Montessori (Italy): Developed the Montessori approach to early childhood education. Florence Nightingale (U.K.): Founder of modern nursing, she established the first school for nurses and fought to improve hospital conditions. John Muir (U.S.): Naturalist and conservationist, he established the National Park System and helped found The Sierra Club. Jean Monnet (France): Responsible for the reconstruction of the French economy following World War II, including the establishment of the European Coal and Steel Community (ECSC). The ECSC and the European Common Market were direct precursors of the European Union.What Management Skills Are Necessary to Become a Successful Entrepreneur?

Being an entrepreneur means you are you own manager, as well as a manager of others. Your skills need to be extensive in order for you to be successful.

An entrepreneur should be able to effectively manage people, a budget, Operations and in some instances, investors. This requires someone.

With a multi-tasking work style who can plan for both the short- and long-term goals of his business.

Time Management: A successful entrepreneur must be able to make wise decisions about how he uses his time, continually evaluating and prioritizing tasks according to relevance and importance. This type of time management includes short- and long-range planning and the ability to participate in economic forecasting and market research. Entrepreneurs must also manage their professional life in conjunction with their family life, striking a balance between work and home.

Business Planning: A successful entrepreneur has management skills to accurately research his market and develop a comprehensive, multi-year business plan. This includes accounting for growth and development, taking on employees, financing operations and marketing and running or overseeing the day-to-day business functions. This type of business planning includes the ability to manage economic forecasting.

Employee Management: Finding and keeping customers is one of the entrepreneur's most important management undertakings because revenue from customers keeps the business alive. Entrepreneurs must have the management ability to juggle clients, trouble-shoot problems, oversee customer interactions with employees and ensure that customers are Successful entrepreneurs are also continually soliciting new business and developing new business networks.

Sales Management: An entrepreneur must be able to sell himself and his products and services. The ability to turn leads into sales and sales into on-going business is a trait important to all entrepreneurs, especially start-ups. Even if you have an exceptional sales force representing your company, customers are likely making their investment in you as much as in your business.

Financial Management: Even if an entrepreneur hires an accountant or finance professional to track money and other assets, he is ultimately responsible for the financial management of his company. This takes on greater significance when a company is growing rapidly or bringing on investors. A successful entrepreneur has the management skills necessary to review books and financial statements to ensure that he is always aware of his business's finances.

Business Management: Successful entrepreneurs must have strong overall business management skills. This means understanding all aspects of how his business operates, including the regulatory requirements of his industry. Entrepreneurs must be knowledgeable about labour, employment and tax laws, and must stay abreast of industry and market trends. This will help him quickly change direction if economic conditions dictate.Future of Social Entrepreneurship:

1.) Social entrepreneurship will dissolve as distinct discipline

Dont be alarmed this is a good thing. Right now, social entrepreneurship is treated as a discipline in its own right. For the moment, this is a welcome situation, drawing attention and resources to the social sector while stimulating new frameworks and new enterprises. But through the coming years well see social entrepreneurship woven into the very fabric of existing disciplines, becoming an integral lens through which we understand all sectors and fields of study. The mainstreaming of social enterprise means its disappearance as a distinct activity and will, ultimately, lead to the systemic shifts necessary for broad-scale social change.

2.) Assumptions of high profit margins will be recalibrated to the realities of mission-based enterprise.

Enthusiasm around impact investing continues to grow. And an increasing number of social entrepreneurs are convinced that they can make money and find meaning in their work. The good news is that the social sector will prove that enterprises can be financially sustainable, even profitable. The bad news is that optimistic assumptions around profit margins will encounter a hard reality check. Succeeding in business is very difficult. Succeeding in a business with an integrated social mission is doubly so. Despite the occasional success story, social entrepreneurs and impact investors will have to get used to thinner profit margins that will, generally speaking, have an inverse relationship to social impact.

3.) The greatest social change will be unleashed by moving the corporate needle

The surge of enthusiasm for new social ventures is astonishing. All around us, social entrepreneurs are creating new projects poised for growth and impact. These initiatives are laudatory and necessary and definitely part of the picture. But the substantive impact we need to avoid catastrophe and reconfigure existing systems will be achieved far more through incremental shifts in corporate behavior than through revolutionary ones in the nonprofit or entrepreneurial sectors.

4.) Social impact assessment will become more sophisticated and fully integrated into organizational analysis.

Social impact assessment continues to make strides in measuring and articulating the results of social change projects. As donors and investors demand clarity of impacts in an increasingly crowded market, new models and tools for social impact measurement will continue to be developed. As with the dissolution of social entrepreneurship as a distinct discipline, social impact assessment will no longer be a supplement or alternative to existing tools for organizational assessment, but an integrated and essential feature of any robust product or service analysis.

5.) Impermanence and constant reconfiguration define the career arc of aspiring social entrepreneurs

This should come as no surprise to those who have been observing broader trends in employment and independence. MBO Partners reports that there are nearly 17 million members of Americas independent workforce, a number predicted to rise to 23 million in the next five years. Social entrepreneurs are not immune to this change in workplace patterns and may be even more susceptible given the emerging and evolving nature of the sector. Individuals planning to make a living through social entrepreneurship should brace themselves for a career marked by frequent changes in employment and a constant reconfiguration of skills and teams, each assembled for different tasks at given times.

Conclusion:-This paper is the hope, if not reality that there are more social entrepreneurs that the field has yet to discover. Some of these entrepreneurs may need help to become fully engaged, full-time. Others may simply need a boost in visibility and financial support to move through scale-up and sustained impact. And still others may be doing well as they are.

The challenge is not to define social entrepreneurship so broadly that it becomes just another word that gets bandied about in funding proposals and niche building. Other terms such as innovation have gone that route, and may never be rescued from over-use. At the same time, social entrepreneurship should not be defined so narrowly that it becomes the province of the special few that crowd out potential support and assistance for individuals and entities that are just as special, but less well known.

In the end, the research goal should be to uncover the factors that make social entrepreneurship a reality. If these factors suggest that social entrepreneurship is truly the work of a rare breed that must struggle mightily to succeed, so be it. At least the conclusion would yield insights on how to make the struggle easier.

If, however, the research suggests that social entrepreneurship can be a more natural act by a much larger number of individuals and entities, all the better. Then the field can move forward to create the conditions under which social entrepreneurship can flourish and work its will on solving the great intractable problems of our times.

PAPER CAP656

Miss. Rajni Bhalla

Abhishek Kumar

Roll No: - RD1207B33

Reg No: - 11210885 Course: - MCA 3rd Sem. Section: - D1207

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