Cairo University Dr. Sherifa Fouad Sherif

 Entrepreneurship is the act and art of being an entrepreneur. entrepreneur  One who undertakes innovations or introducing new things, finance and business acumen in an effort to transform innovations into economic goods.innovations  This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity.organizations  The most obvious form of entrepreneurship is that of starting a new business referred to as startup company.businessstartup company

 Social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems.  They are ambitious and persistent, tackling major social issues and offering new ideas for wide-scale change.  Rather than leaving societal needs to the government or business sectors, social entrepreneurs find what is not working and solve the problem by changing the system, spreading the solution, and persuading entire societies to take new leaps.

 Social entrepreneurs often seem to be possessed by their ideas, committing their lives to changing the direction of their field.  They are both visionaries and ultimate realists, concerned with the practical implementation of their vision above all else.

 Each social entrepreneur presents ideas that are user-friendly, understandable, ethical, and engage widespread support in order to maximize the number of local people that will stand up, seize their idea, and implement it.  Every leading social entrepreneur is a mass recruiter of local changemakers—a role model proving that citizens who channel their passion into action can do almost anything.

 A term that captures a unique approach to economic and social problems, an approach that cuts across sectors and disciplines.  Key areas of focus have been education, health, welfare reform, human rights, workers' rights, environment, economic development, agriculture.  The organizations they set up are non-profit or for-profit entities.

 “Changemakers” are everyone that solve problems in an entrepreneurial way, who have the ideas, initiative, leadership skills, empathy and team skills to create new opportunities and respond to challenges in society.  Also called pioneers of change.

 Just as entrepreneurs change the face of business, social entrepreneurs act as the change agents for society, seizing opportunities others miss and improving systems, inventing new approaches, and creating solutions to change society for the better.  While a business entrepreneur might create entirely new industries, a social entrepreneur comes up with new solutions to social problems and then implements them on a large scale.

 Social entrepreneurs drive social innovation and transformation in various fields including education, health, environment and enterprise development.  They pursue poverty alleviation goals with entrepreneurial and, business methods and the courage to innovate and overcome traditional practices.  A social entrepreneur, similar to a business entrepreneur, builds strong and sustainable organizations, which are either set up as not-for-profit or for-profit companies.

 There are 3 key components that emerge out of these definitions of Social Entrepreneurship:  * Problem Recognition  * A sustainable solution  * Social change

 A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change (a social venture).  Business entrepreneur typically measures performance in profit and return.  The main aim of social entrepreneurship is to further social and environmental goals.

 Social enterprises are social mission driven organizations which apply market-based strategies to achieve a social purpose.  The movement includes both non-profits that use business models to pursue their mission and for-profits whose primary purposes are social.

 ‘ Social enterprise means an enterprise whose primary objective is to achieve social impact rather than generate profit for owners and stakeholders.  It operates in the market through the production of goods and services in an entrepreneurial and innovative way.  It is managed in an accountable and transparent way, by involving workers, customers and stakeholders affected by its business activity.

 Their aim is to accomplish targets that are social and/or environmental as well as financial: is often referred to as the triple bottom line.  Many commercial businesses would consider themselves to have social objectives, but social enterprises are distinctive because their social or environmental purpose remains central to their operation.

Social Enterprise Social Enterprise :  means an enterprise whose primary objective is to achieve social impact rather than generate profit for owners and stakeholders.  It operates in the market through the production of goods and services in an entrepreneurial and innovative way, and uses surpluses mainly to achieve social goals

Ambitious:  Social entrepreneurs tackle major social issues.  They operate in all kinds of organizations: innovative nonprofits, social-purpose ventures, and hybrid organizations that mix elements of nonprofit and for-profit organizations.

Mission driven: Mission driven:  Generating social value —not wealth—is the central criterion of a successful social entrepreneur.  While wealth creation may be part of the process, it is not an end in itself. Promoting systemic social change is the real objective.

Strategic:  Like business entrepreneurs, social entrepreneurs see and act upon what others miss:  Opportunities to improve systems, create solutions and invent new approaches that create social value.  And like the best business entrepreneurs, social entrepreneurs are intensely focused and hard- driving in their pursuit of a social vision.

Resourceful:  Operate within a social context rather than the business world  Have limited access to capital and traditional market support systems.  Must be skilled at mobilizing human, financial and political resources.

 Results oriented: Social entrepreneurs are driven to produce measurable returns. These results transform existing realities, open up new pathways for the marginalized and disadvantaged, and unlock society’s potential to effect social change.

 Achieves large scale, systemic and sustainable social change through a new invention, a different approach, a more rigorous application of known technologies or strategies, or a combination of these.  Focuses on the social and/or ecological value creation and tries to optimize the financial value creation.  Innovates by finding a new product, a new service, or a new approach to a social problem.  Continuously refines and adapts approach in response to feedback.  Combines the characteristics represented by Richard Branson and Mother Teresa.

 An unwavering belief in the capacity of all people to contribute meaningfully to economic and social development  A driving passion to make that happen.  A practical but innovative stance to a social problem, using market principles and forces, coupled with determination, that allows them to break away from constraints imposed by ideology or field of discipline, and pushes them to take risks that others wouldn't dare.

 Measure and monitor their impact. Entrepreneurs have high standards, particularly in relation to their own organization’s efforts and in response to the communities with which they engage.  Data, both quantitative and qualitative, are their key tools, guiding continuous feedback and improvement.  A healthy impatience. Social cannot sit back and wait for change to happen – they are the change drivers.

 Maria Montessori (Italy) - Developed the Montessori approach to early childhood education. Maria Montessori  Florence Nightingale (UK) - Founder of modern nursing, she established the first school for nurses and fought to improve hospital conditions. Florence Nightingale  Ibrahim Abouleish (Egypt) - Founder of SEKEM, a biodynamic agricultural corporation, alternative medicine, and educational center located outside of Cairo. Ibrahim AbouleishSEKEMbiodynamicalternative medicine

 Muhammad Yunus (Bangladesh) - Founder of microcredit and the Grameen Bank. He was awarded the 2006 Nobel Peace Prize. Muhammad YunusmicrocreditGrameen BankNobel Peace Prize  Bill Drayton (U.S.) - Founded Ashoka, Youth Venture, and Get America Working! Bill DraytonAshokaYouth VentureGet America Working!  Jamie Oliver (U.K.) - TV chef who campaigned to improve children's diet at school. He also trained disadvantaged young people to become chefs. He created a restaurant - a social enterprise - called Fifteen which employed these newly trained youngsters. Fifteen is now a global chain of restaurants. Jamie Oliversocial enterprise

 SEKEM – With a name that essentially means “vitality from the sun,” this Egyptian company has certainly lived up to its promise by continuously encouraging social, personal and environmental development. Since SEKEM was founded in 1977 by Dr. Ibrahim Abouleish, a pharmacologist, it has: SEKEMDr. Ibrahim Abouleish  Produced medicinal, herbal, gastronomical and aesthetically focused products that serve the needs of its customers  Improved the environment through biodynamic farms  Built an educational establishment for children to emphasize creativity and analytical thought  Instituted a healthcare center devoted to holistic medicine

 Reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust, accountability, participation and creativity.  Credit is a cost effective weapon to fight poverty and it serves as a catalyst in the over all development of socio-economic conditions of the poor who have been kept outside the banking orbit.  Muhammad Yunus, the founder, if financial resources can be made available to the poor people on terms and conditions that are appropriate and reasonable, “these millions of small people with their millions of small pursuits can add up to create the biggest development wonder.”