The urge to do something socially or environmentally benefiting while making steady profits is catching up fast globally. What started as activism towards eradication of social evils in the society has now transformed into a symbiotic environment, spawning new ideas, creative innovations, early-stage investors, incubators, and favorable government policies leading to strong emergence of new age social entrepreneurship in India
Social entrepreneurship is less glittery in terms of the profits, perks and financial power of commercial businesses. May be that’s why it doesn’t appeal much to the mainstream entrepreneurs or fresh graduates. While this is true, there are some myths surrounding this concept which need to be addressed.
Myth 1: Social Entrepreneurship Is Just Social Work.
Fact: No. Social entrepreneurship is doing social good through an innovative business model, by impacting the target communities on a long-term basis and earning a steady amount of profits. For-Profit social enterprises are substantially different from the old-school NGOs in the way they approach a problem and bring about an impact.
Myth 2: Social Entrepreneurship As A Career Has No Long-term Scope.
Fact: I would definitely beg to differ on this. Social entrepreneurial ventures may not be mainstream if ‘scope’ means money, or lucrative jobs offered. However they can provide creativity on job, immense satisfaction of doing social good and an alternative way of looking at development and profits.It all depends upon the cause you choose and the people you empathize with.
Social Entrepreneurship is all about you. Where do you want to create a difference, how do you plan to do it and how can it be converted into a sustainable business model. Social, economic, environmental and humanitarian problems cannot be abolished or changed in a day. It is a long and a difficult road ahead and hence, long-term.
Myth 3: There Are No Courses Or Schools That Teach You To Be A Social Entrepreneur.
Fact: This is partly true and partly not. There are good quality schools imparting knowledge and expertise in this field and they teach you to apply business principles to tackle socio-economic-enviornmental issues, help you see the big picture and create a positive impact. Stanford and Oxford offer online and executive courses in Social Entrepreneurship.
TISS in India offers courses in Masters of Social Work with specialization in Rural Development, Livelihood & Social Entrepreneurship and much more. Your specializations largely depend on where you choose to work – NGO, Government or CSR. (Source: Quora). Along with this, NMIMS Mumbai, has a part-time course in MBA in Social Entrepreneurship, Emergent Institute or Indian Institute for Sustainable Enterprise, in Bangalore has a flagship offering of a Program in Sustainable Enterprise which focuses on interactive, engaging experiences to launch and build sustainable enterprises, Deshpande Foundation in Hubli offers a 2-yr rigorous residential program focusing on innovation, fundraising, and much more taught by faculty members who hold a similar experience.
Myth 4: There Is No Creativity Involved In Social Entrepreneurship.
Fact: All those who think that Social Entrepreneurship purely altruistic; it’s time to open your eyes, wide and clear. Social entrepreneurship mostly concerns creativity, out of the box and quirky thinking and tricky execution. First, identifying the cause. Second, finding a sustainable for it and third, monetizing this solution while maintaining social impact. Time and again, we have proved that Social Entrepreneurship is the next stop in the journey of Social Innovation.
Do you have any questions about Social Entrepreneurship that needs answering? Leave them in the comment box below!
Cover Image Source: Deshpande Fellowship Programme. Jugaad Innovation by Fellows of Cohort 12.