It goes true for any shape of social entrepreneurship that its objective should be based around creating innovative and betters ways of improving the world. Wide arrays of creative programs are implemented by social entrepreneur in order to achieve long-lasting, cost-effective and deep social impact. It could also include strategies for resource management and organizational structures, which are shifted in those areas that yield higher productivity.
For instance, Habitat for Humanity persuades volunteers to transform their pastime towards building houses. And, similarly Teach for America makes brilliant graduates to transform their career’s two years in providing education in those schools that are not able to afford teachers. This method of shifting resources is necessary for progress. As remarked by a noted economist, there is a requirement of a society which is entrepreneurial in nature, thus making entrepreneurship and innovation a stead, but continuous part of the process.
There is no doubt that there are some interesting forms of social entrepreneurship that make use of the earned income strategy to bring about cost-effective social impact. It is also important to encourage leaders in social sector so that they could explore creative financial strategies to drive their organizations towards meeting effective social requirements by mobilizing social resources. The best social entrepreneur makes innovative efforts in order to use business methods in order to suffice social objectives. Grameen Bank in Bangladesh was developed employing innovative strategy of using the strengths of peer groups in improving the effectiveness and financial condition of micro-enterprise.
Delancey Street Foundation is another example, which is a residential community for substance abusers. It has many businesses under its aegis that gives employment to its members on one hand, while on the other it generates sustaining funds for the organization. These are exemplary examples of how a social entrepreneur can bring together methods of business along with social objectives. Here entrepreneurship is not depicted from the income generated by the social enterprise, but it is indicated in the innovation and impact brought about.
A social entrepreneur’s venture of earned income is successful only when there is a meaningful social purpose, which goes beyond the money-making objective. In order to create a distinctive specialty, social entrepreneurship need not be guided by economic objectives, but it should be managed and organized on the basis of social objectives. If the mission of a venture is only to generated funds, there is no ambiguity to the truth that it is not run by a social entrepreneur, but by a business entrepreneur.