Helping In Environmental Sustainability With Social Entrepreneurship

Posted by Arpita Gupta on January 21st, 2021

Science and technology have made the impossible possible. But the impact on the environment is immense. Even though you are breathing, drinking, and eating fine, global warming is still happening. But, modern entrepreneurship is all about the society and social entrepreneurship is another form of philanthropy. Therefore, creative minds are developing new sustainable ideas to find profitable solutions for businesses that are also beneficial for society as well as the environment. 

The concept of social entrepreneurship means changing the ways of the existing business strategies and creating a new and improved solution for a better environment. The individuals believing in social entrepreneurship & environmental sustainability spend economic resources to create strategies, connections, networking, and learning skills, thereby spreading knowledge to boost awareness about creating better corporate policies that create profit while saving the environment.

How do social entrepreneurs work?

• Priority towards society

Social entrepreneurs always aim to leave a positive impact on the world and gain profit as well. They are goal-oriented and have a vision towards social entrepreneurship environmental sustainability. It doesn’t matter in which sector you work, what skills you have; you can easily become socially responsible. You need to start thinking to build a solution from the perspective of the people you are trying to help.

Entrepreneurs educate themselves to understand the problem objectively and then interact with those affected by the system to get in-depth insight. This helps them give shape to the business idea that can help society. Once they understand the problem, they start their social enterprise to achieve the expected impact. 

• Smart business strategy

There is nothing wrong with earning revenue from social enterprises. An entrepreneurial approach makes it possible for the social entrepreneurs to eliminate the issue in a profitable way for the parties involved rather than the typical charity and philanthropy which sometimes fail due to the lack of funds.

These entrepreneurs make connections with the business hubs around the area and provide the customers with the service in a sustainable and socially responsible way. The mutual exchange of profit between the system and society makes it possible for social entrepreneurs to work creatively yet responsibly. This strategy also makes it manageable for social enterprises to harbor financial sustainability. 

The social entrepreneurs need to find a strategic way where the system's cross-compensation model can target the market, thereby covering the delivery cost by producing enough revenue since the target audience might not be able to pay for the service. These strategies should be encouraged from school to work-life so that more students could learn about these skills at an early age and grow up to be social entrepreneurs. 

• Expanding their reach

Once social enterprises have a stable revenue generation, they are considered to be a successful venture. Now they aim for the various sectors of the society that can benefit from their initiative. So, the venture gets expanded so that people can make their lives better irrespective of their geographical location, educational or financial background. 

Students are the best solution to encourage social entrepreneurship. They are more creative and prompt in finding a solution. This is why it’s crucial to teach these aspects throughout their life, right from school to work-life to make them understand the goals of a responsible entrepreneur and how the social enterprise is working towards solving the countless issues of the world.