A Social Enterprise — Balancing Social Values with an Entrepreneurial Mindset.
In the pursuit to become financially self-reliant, developmental organizations and NGOs are exploring the idea of Social Entrepreneurship. Paradoxical in nature, but applicable to real-time development and growth of a social organization.
Understanding a Socio-Entrepreneurial Mindset.
Having an Entrepreneurial mindset is having a way of thinking and acting that allows individuals and companies to navigate uncertainty. Social Entrepreneurship is the desire of bringing a positive impact through sustainability & development, yet being independent of external financial dependencies.
Within a social responsibility setting, having this approach empowers a social enterprise or NGO to overcome challenges, be decisive, and be accountable for work outcomes. It further is a constant need for the team to upskill, learn from their mistakes, make continuous improvements, and take action on plans. Many are doing this to reinforce their financial approach. In comparison to regular NGO models, Social entrepreneurship can go much deeper & farther and can open up new ways to help disadvantaged communities.
So, what is a Social Enterprise?
A social enterprise is a type of organization, where the end results and success metrics are measured in more than just monetary terms or social responsibility. A Social enterprise typically measures its success based on a Three — ‘Pronged bottom-line:
People. The human impact of the organization. We measure the ability to affect social change, improve lives, and sustainable community development.
Planet. The environmental impact — how we as an enterprise contribute to a more sustainable planet &/or efforts to reduce the carbon footprint (CO2 emissions) of your business and customers.
Profitability. Like traditional business models, social enterprises need to make money to sustain themselves, pay employees, and grow as an organization.
The Need for a Social Enterprise
The social entrepreneurship model promotes independence and self-reliance, allowing NGOs to generate their own income while the overall social mission of reducing poverty and fighting injustice and inequality remains the same. It is all about recognizing business opportunities that can, at the same time, solve economic, social, and civic difficulties.
A trend has been observed that social enterprise projects, though a part of the parent NGO, are separate from the NGO itself; but collaborate with business programs within the organization and a small part of the profits from these projects may go back to the parent NGO. Established NGOs have now begun facilitating and financing social enterprises in developing countries by promoting an enabling environment to flourish. Now, because NGOs are working within new business models, they are engaging in projects, with more partnerships and cooperation with other organizations or businesses, forming sort of consortiums, so that, the project itself has the potential to become a self-reliant social enterprise.
The Challenges of a Social Enterprise
The challenges involved in running a sustainable socially responsible business may, however, shift the focus off the core missions and excluding key beneficiaries, in projects. By embracing social entrepreneurship models, NGOs face the risks of being distracted towards financial sustainability.
In a social enterprise, there is an exchange of finances. Asking for at least some payment can give beneficiaries a sense of responsibility and enhance their commitment to further developing a service or product. But this may sometimes adversely affect the image of the organization, with some questioning their motives. Hence, it is advised that a regular revisitation to the key result areas and indicators are essential to every NGO Project.
Job Booster as a Social Enterprise
Job Booster India is an initiative of Woord en Daad, Netherlands. Woord en Daad, has been leading sustainable change for 47 years, in over 20 countries, with developmental programs in Agricultural development, Policy influencing, Awareness, Sustainable water, Education, Emergency aid and resilience, and Work and training. Together with loyal supporters and experienced partners, Woord en Daad continues to build on this life-changing work.
Job Booster India, as a social enterprise, is committed to creating job opportunities and income for vulnerable and marginalized groups. The motto is to reach the unreached. We prepare youth, groom them, and make them ready for job placement.
Job Booster partners with corporate houses, NGOs, and developmental organizations to help the unreached youth to find job opportunities. Dignified employment that gives young people perspective and self-esteem. Job Booster wants to take responsibility for shaping a dignified existence for the underprivileged youth, and we hope to create opportunities to transcend poverty.
Job Booster can assist you in being a catalyst of change by building on a balanced socio-economic mindset approach. We extend our commitment towards social responsibility by working with NGOs and developmental organizations, enabling solutions and empowering them to lead and institutionalize the value of positive action.