Social Entrepreneurship in the developing world

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Social Entrepreneurship is a word which describes incorporating entrepreneurship style in the management in such a way that the society can benefit from it. It’s the work of an entrepreneur to think or come up with new ideas by which problems in the society can be solved out. Being an entrepreneur the business idea is either a breakthrough creation or an innovation whose purpose is to benefit the surroundings while getting profits.

An entrepreneur is a risk taker who thinks and believes that his/her idea is going to benefit their purpose and help them achieve their goals. ( Pbs, n. d. ) Developing world is a term referring to the developments being done in the world in such a way that it becomes a better place to live in. For the development of any region, area, country or the world as a whole, it’s crucial that the people find new ways or come up with new idea which they can incorporate in the environment to achieve their final goal. This is the part of a social entrepreneur.

He is the one who, apart from being a risk taker, comes up with new ideas, innovations and creations which are feasible, practicable as well as implementable. By following the principles of a true entrepreneur, people by themselves could improve the area where they are living in and would also help in developing the nation and the world. It’s not necessary that the social entrepreneur should come up with a new idea; he can also improve an already existing one which he feels is more suitable and needed. E. g. n entrepreneur can look for more innovative and creative teaching ideas which would help the students in developing a concept and understanding the true meaning behind their text books.

Apart from that an entrepreneur can look for ways in which poverty can be eradicated, economic condition, unemployment rate and living standards could be improved etc. So for developing the world more and more entrepreneurs are required whose goals are to improve the society as they are the one who think beyond attaining profits by the end of the fiscal years.

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