Wednesday, June 20, 2007

Social Entrepreneurship: Definition

A couple of weeks ago we had a lively debate in the DV lounge at Stanford: Topic - are we social entrepreneurs? Needless to say there was not much agreement. But we did agree on one thing- Who is the hottest date in town these days? A social entrepreneur!
Why? hmm.. interesting... sounds like an oxymoron, could be different in a familiar sort of way; after all everyone knows the words "social" and "entrepreneur" separately so why not together?
The Stanford Social Innovation Review (spring 2007) has come up with a whole article "Social Entrepreneurship: The Case for Definition". In the DV loune we agreed that all entrepreneurs are good entrepreneurs, its just that social ones are the new kids on the block. So when you are out and about try my simple test to help determine who's who -

Business Entrepreneur:
Motivation: Economic agenda (social benefits follow)
Metric: Revenue growth, profits ($)
Philosophy: Support employee to grow market

Social Entrepreneur:
Motivation: Social agenda (economic benefits follow)
Metric: Social return sustained by revenue from business
Philosophy: Grow market to support employee

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