Understanding Social Entrepreneurship And Its Emergence in India Through Academic Contributions

Abstract

"The future of the world lies at the hands of market-based social entrepreneurs", said the 2006 Nobel Peace Prize Winner Muhammad Yunus, founder of the Grameen Bank - an exemplary social enterprise that serves as a model for social activists and social workers on one side and social entrepreneurs on the other. He added, 'the more we can move in the direction of business, the better off we are in the sense that then we are free; we have unlimited opportunities to expand and do more, and replication becomes so much easier. We can create a powerful alternative to the orthodoxy of capitalism a social-consciousness-driven private sector, created by social entrepreneurs'." The authors of this paper deem social entrepreneurship in India as an essential part of the development journey of the nation. Such a bent of mind among young entrepreneurs in the society can successfully pursue economic activities to bring in social and economic empowerment for the needy. The field of social entrepreneurship in India is in its nascent stage and yet offers plenty of scope for young social entrepreneu rs to prove their mettle and contribute, to the community they wish to serve in particular and society at large. For a more equitable and sustainable world, the authors insist that we need a market-based approach to innovatively respond to social problems. These challenges to social entrepreneurs come from the environment they want to work in and for which communication and leadership qualities they ought to acquire. They might have to face resistance from social, political, cultural and economic forces around them yet they have to be persistent in their approach. They need a better comprehension on resource mobilization and optimum utilization of the resources, for creating value to the targeted group in a society, through sustainable business. This necessitates proper training in business skills and entrepreneurial attitude alongside appropriate mind-set and intent.