IN FOCUS

SOCIAL ENTREPRENEURSHIP

The early 80s and 90s were the times when there was a debate on sustainability and impact of development initiatives worldwide. This challenge led to the identification of social enterprise as a strategy in business and social sectors. From the moment it was conceptualized to present time, social entrepreneurship has evolved into an area of collaboration among organizations in terms of impact, scalability, sustainability, and value across sectors.

SOURCE: The Case of Social Enterprises in the Philippines/UPLB/CDC/December 2011 Ashoka Philippines/ https://www.ashoka.org/social_entrepreneur

 

Sustainable Development Goals (SDGs)

The Sustainable Development Goals (SDGs) adopted by the United Nations as a development platform puts emphasis on promoting inclusive and sustainable development. It encourages individuals and organizations to initiate and develop programs that will address poverty and lack of opportunities for the poor. It’s primary call is to recognize and maximize existing capacities, innovate and develop strategies through partnership and collaboration. The need to establish and promote relevant and proven approaches is made more urgent with recent statistics and narratives on poverty, especially those induced by climate change which impact more on the majority, often to the sector that is least able to cope with its consequences.

 

These realities serve as the foundation of social entrepreneurship as a strategy to localize the SDGs. The process of creating social enterprises that address societal divides and social problems provides an enabling opportunity for organizations to utilize the indicators in the SDGs as a development agenda of social enterprises related to people, planet and profit, otherwise known as the triple bottom line.

 

Lasallian definition of social entrepreneurship

Social Entrepreneurship is a multi-sectoral, multidisciplinary, and innovative approach to development that aims to address community social problems by utilizing concrete and inclusive business models that are anchored on the principles of sustainable development.

3 Important Elements

Inclusive Ownership Structure

Inclusion of community members in the ownership structure of social enterprises as coowners and not just mere beneficiaries, laborers, or suppliers.

Quality Participation

Equitable participation of community members, students, and other stakeholders from the planning up to the business operation stage of the social enterprise.

Equitable Valuation

Proper valuation of non-monetary contributions of all stakeholders of the community social enterprises

Importance of Social Entrepreneurship

The pandemic has unleashed a number of environmental and societal problems. This is a moment that has challenged many people to be more creative, responsible and to help in any way that they can. Social Entrepreneurship has the capability of “making the world a better place” by uniting people with the same goals and mentalities towards solving these problems.

Many voices have been silenced during the pandemic when it comes to bringing light to other issues that they may be facing. Social Entrepreneurship creates a shared platform for giving a voice to others to share these issues to people who are willing to listen and create a movement or even an opportunity for them to help that cause.

Investors these days are not only looking for an idea that makes money alone but as well as ideas that do good to the world. Sustainability has become a huge influential factor when it comes to the decision making of investors. Social Entrepreneurship can grab the attention of investors and persuade them to support a cause that is much bigger than money.

Social Entrepreneurship goes far beyond a simple idea, it blooms into the creation of concrete and long-lasting solutions to problems through products and even services. Raising awareness of the public allows social entrepreneurs to leverage this and influence them to support products or services that would help others or the world in some way.

SOURCE: Font, A. (2020). 5 reasons why now is the time for social entrepreneurship. Retrieved from: https://www.eu-startups.com/2020/08/5-reasons-why-now-is-the-time-for-social-entrepreneurship/