ERIC Number: ED434219
Record Type: RIE
Publication Date: 1998-Nov-30
Reference Count: N/A
Social Entrepreneurship: Profit as a Means, Not an End. Digest Number 98-7.
In the nonprofit sector, greater attention is being focused on individuals who have a vision for social change and financial resources to support their ideas. These social entrepreneurs exhibit all the skills of successful businesspeople and a powerful desire for social change. Others have described them as follows: (1) pathbreakers with a powerful new idea, who combine visionary and real-world problem-solving creativity, have a strong ethical fiber, and are totally possessed by their vision for change; (2) people who attempt to take innovative approaches to social and other issues; and (3) pioneers who are discovering that entrepreneurship can help them meet community needs and become more financially self-sufficient. The raw materials of social entrepreneurship include the following: candor, passion, clarity in mission, commitment, core values, customer-driven products and services, sound business concepts, a willingness to plan and build the right team, have sufficient resources, and an ability to improvise. For-profit and nonprofit entrepreneurs are different. For-profit entrepreneurs get strength from personal skills and knowledge, focus on short-term financial gain, have no limit on scope of ideas, have profit as an end, and pocket or reinvest profit for further profit. Social entrepreneurs get strength from collective wisdom and experience, focus on long-term capacity, have ideas limited by mission, have profit as a means, and put profit into serving people. More colleges are offering programs or courses focusing on social entrepreneurship. (Four Internet resources for social entrepreneurs are summarized.) (YLB)
Descriptors: Adult Education, Business Administration Education, Business Responsibility, Entrepreneurship, Higher Education, Nonprofit Organizations, Nontraditional Students, Social Change, Social Problems
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Publication Type: Information Analyses
Education Level: N/A
Authoring Institution: Ewing Marion Kauffman Foundation, Kansas City, MO. Center for Entrepreneurial Leadership.