What is Social Entrepreneurship? Chris Woods Deb Shepherd
Social Entrepreneurship Commercial Entrepreneurship What are the differences? What are the similarities?
Social entrepreneurs play the role of change agents in the social sector, by: Adopting a mission to create and sustain social value (not just private value), Recognizing and relentlessly pursuing new opportunities to serve that mission, Engaging in a process of continuous innovation, adaptation, and learning, Acting boldly without being limited by resources currently in hand, and Exhibiting heightened accountability to the constituencies served and for the outcomes created. (Lees, 1998; p 4)
Think again? “Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced.” (Timmons, 1999; p 27) Motivation aside, is there really a difference? “Social entrepreneurs are one species in the genus entrepreneur” (Dees, 2001; p 2)
Opportunity in social entrepreneurship o Identify Have you identified a real need? Or just an interest of yours? o Evaluate Apply some critical business eyes over the reality of the situation and your idea. o Exploit MAKE IT HAPPEN! Venture summary – business planning (IT’S A VERB!) The reader should be left with no doubt as to your ability to execute… present a compelling case, don’t just rely on people getting caught up in your passion.
What Judges Look For S1. What is your idea? (40) What is the product or service you are trying to sell? What problem/opportunity does your product/service address? Originality and innovation of idea – is there a ‘WOW” factor? Is it feasible/logical/accomplishable? How close is the idea to implementation? Is it scalable? In and beyond NZ? S2. Describe your market / target audience (40) Who, specifically, will you sell/provide services to? How big this market? Why will they buy your product/service? And how do you know this? Who are your competitors? How well is the need/opportunity defined? How significant/important is the issue being met? How major will the impact of the idea be? S3. Describe your team (15) Include a brief description of each team member and the role they will play in the venture. Quality, breadth and capability of team S4. What resources do you have or need to continue the development of your idea? (5) Resources at their disposal