Trends in Social Entrepreneurship
Entrepreneurship is basically defined as the practice of initiating a new business or bringing new ideas and energy to an existing business. Entrepreneurs do so by pursuing and exploring new business ideas that can possible help in growing the organization. Recent trends in social entrepreneurship have shown outstanding outcomes and are proving to be more effective.
Some of these trends are:
1) Commerce: Commerce is hitting the wave as an innovative way of fighting poverty. An expanding class of social beginners is making use of consumerism to collect funds, to boost the living standards of the deprived and to help in creating fair employments. These are building companies and products with the utmost fair wages, ethical standards, recyclable materials, supply chains and mindful manufacturing. Start-ups are creating each and everything from soccer balls to clothes to empower the deprived and making use of trends like purchase one deliver one to do good and drive sales.
2) Data: Data both big and small has progressively turned out to be the chief motive behind all the activities in the social space. In this regard, entrepreneurs at the organizational level are more aware of the data they are producing every day. They are continuously analyzing and measuring facts and figures to make business decisions and to improvise for success. Many accessible data tools have additionally driven this trend.
3) Proof: Hundred per cent clearness is the emerging new trend that is embraced by a number of entrepreneurs.
Knowing the advantages of hundred percent transparencies in getting public support, lots and lots of entrepreneurs are quickly adopting this approach. Conclusion This report concludes that the key to become a successful entrepreneur lies in the aptitude and capability of the person to adopt an idea and then, by means of innovation, build it up in such a manner that it turns out to be a marketable service or product just like Dr. Sam Prince who got inspired from Tex Mex but innovated his idea and opened a successful business venture Zambrero Fresh Mex Grill by making it unique marketable product. The blend of many of these qualities and skills, with the appropriate support, guarantees that ideas will not just remain dreams but will turn out to be viable, real businesses.
