This is the first of a new series called “What is_____?” Here, return on good examines concepts whose almost buzzword-like expressions resemble jargon to outsiders and whose meanings still get debated within practitioners’ circles. I do believe in the importance of stating definitions to provide a discussion starting point, so I’ll begin to break down some of my terminology here.
Social entrepreneurship, as a concept, existed far earlier than the phrase’s introduction to the lexicon, a few decades ago. The term has drawn a great deal of attention in recent years. The fact Muhammad Yunus won the Nobel Peace Prize in 2006 for his social entrepreneurial efforts with the Grameen Bank, speaks volumes about the movement. [Note: if you’re interested in seeing Muhammad Yunus, he will be promoting his most recent book, Creating a World Without Poverty: Social Business and the Future of Capitalism, in New York. Check out my calendar for details.]
With such attention, a number of events and panels have surfaced on the topic. Having attended several over the past year, I’m amazed the gatherings always begin with the simple question, “what is social entrepreneurship” or “what is a social entrepreneur”? A discussion soon follows, with more divergent interpretations than I would have expected. In determining to piece together my own definition for this series, I looked to what five of the leading social entrepreneurship funders and incubators had to say on the topic. Being a visual person, I decided to chart out some of characteristics and compare.
As you can see, their explicit definitions don’t completely match up across the board. Despite this, I would bet that Ashoka, Echoing Green, Social Fusion, and the Schwab and Skoll Foundations probably would recognize a true social entrepreneur when they see one.
To cobble a comprehensive definition based on the above, I would say social entrepreneurs are individuals whose passionate but pragmatic vision for a better world, allow them to identify problems obstructing such a reality and to recognize marketplace failures and opportunities to address the persistent social ills. Innovative and resourceful risk-takers, social entrepreneurs devise, measure, and disseminate innovative and sustainable solutions. To achieve large-scale change, they mobilize agents from all sectors and give a voice to the marginalized, working collaboratively toward a mission-driven bottom line that creates social value.
A simple working definition I often use in conversations is “social entrepreneurs are innovative problem-solvers who (typically) take a sustainable and business-minded approach to solving persistent social issues.”
Do you have your own definition?
