Social Entrepreneurship In India
Social entrepreneurship in India – Trends & Challenges
Pawan Kataria 1420126 MBA – General Management
Abstract
Social enterprises are the organizations that aim their efforts toward improving the general welfare of society and they apply market‐based strategies to achieve a social purpose. The article mainly focuses on the growing trends of social entrepreneurs in Indian business. However, a huge number of India’s social entrepreneurs continue to struggle as the social venturing landscape lacks appropriate sources of funding, proper guidelines, societal recognition and suitable information systems. Therefore, it’s the right time for various non‐governmental organizations (NGOs), governmental organizations and social entrepreneurs to come forward
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It is the process of pursuing unusual solutions to social problems. More precisely, social entrepreneurs adopt a mission to create and sustain social value. Social entrepreneurs draw upon appropriate thinking in both the business and nonprofit worlds and work in a variety of organizations: large and small; new and old; religious and secular; nonprofit, for-profit, and hybrid. A social entrepreneur finds and solves social problems on a big scale. Just as business entrepreneurs create and change whole industries, social entrepreneurs act as the transform agents for society, taking opportunities others miss to improve systems, invent and communicate new approaches and advance sustainable solutions that create social value. Business entrepreneurs typically evaluate performance in profit and return, but social entrepreneurs takes into account a positive return to society. A social entrepreneur identifies a social problem and uses entrepreneurial principles to manage, create, and arrange a venture to make social …show more content…
Peredo & McLean (2006) indicate that there are nevertheless tremendous hurdles and challenges that many social entrepreneurs face while operating in India and that hinder the entrance of new social entrepreneurial ventures. Some major challenges are outlined as follows:
1. Lack of Education in Entrepreneurship:
Entrepreneurship in India is still encumbered by the traditional educational system of the country. As education is the main source for promoting entrepreneurship in the business sector of the economy, there is still a lack of specific curriculum on entrepreneurship development in the Indian education system. Due to this gap in the Indian education system the country’s entrepreneurial sector is still underdeveloped and struggling. Even business schools that have developed curriculum on entrepreneurship are lacking in terms of social
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