Social Entrepreneurship, Social service and Business

Gaurav kumar

Entrepreneurship has been as widely confused with business as Social entrepreneurship with social service. As entrepreneurship has business value in its core or as main output, social entrepreneurship has social service as its main deliverable. But these minute relationships have been largely mapped to major confusions.
Social entreprepreneurship is percieved by many entrepreneurs as a balancing act between generating revenue and creating social value at same time but it is not so. As the term sustainibility defines entrepreneurship, social enterprising also demands for a sustainable effect with prolonged value creation. If you work on 10 ideas and your 10th idea succeeds, you will be recognized as as "Serial entrepreneur" and if you stop at 9th you without any success you will be classified as a "Risktaker".
The word which differentitates the two sides of coins are "Leadership" and "Activism". A social entrepreneurship should lead to a leadership activism which gives start to a trend of uplifting the conditions of underprivileged or ameliorating a social stigmatic condition. If not so, it should be only termed as localized social service.

Social entrepreneurship differentiates itself from business in terms of utilizations of profits generated. While a business creates opportunities for revenue generation, a social enterprising does so by restricting the loss of resources or avoiding the non utilization of resources at the same time. A business creates a value which benefits the consumer in a better way, a social enterprise makes better consumers for better necessary consumptions.