When I heard that Nobel Peace Prize winner Dr. Muhammad Yunus was coming to campus I did a little research on him to get an idea of who he was and what he did. There is a lot of interesting information about him and to hear him speak about the issues that he focuses on is fascinating. But the one thing that stuck out more than anything to me was the term social entrepreneurship. Maybe I’m late but it was the first time I had ever heard of it and I wanted to know more.

I consulted Wikipedia for a definition which they give as: someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. Initially I thought it sounded like a charitable venture. Then I realized it was different, although I believe the two are related.

Dr. Yunus really makes you think about what it is you intend to do with your entrepreneurial endeavors. With so many people trying to get rich, what about trying to help others too? And the next thought I had was, why don’t they ever mention this in school?

I believe this is a major shortcoming of the media’s portrayal of entrepreneurship. The only type of enterprise that is advocated is something that will produce wealth. School does no work to paint another picture of social consciousness. This has to be changed. In order to change the direction and influence of the future we need to offer students more curriculum choices pertaining to social change. They put in plenty of time training us to become corporate warriors. Mixing it up a bit can’t hurt. Nobody talks about creating value for those who need help, only shareholders.

Which brings me to the question of, if people thought not only in terms of creating enterprise for wealth but for world problems, how would the world be different? How many problems could be solved if the same minds who develop the world’s leading technologies were trying to figure out a way to make sure every child could read and write? While there would still be problems that needed to be solved, more problems would be addressed more frequently and with more vigor than most are being considered right now.

Part of the reason there are so many areas of need around the world is because of the state of a country’s local government. Whether that government be corrupt or simply in a state of devastation, they are often the sole place where problems are also expected to be solved for the citizens of that country. How is that government going to solve problems for its people when it can’t even resolve many of its internal issues? Even the highest functioning governments are full of bureaucracy that prevent or delay actions that need to be taken in order to help others.

A solution is to put the aide in the hands of private enterprise. Allow businesses to operate without that governmental red tape to develop ways to help the neediest of people. Many for profit corporations do great work to help people get things such as medicine, clothes, water, etc. But that isn’t their focus. They have other things to worry about and philanthropy is a branch of their large tree. Give a social corporation the same resources, but with the focus on helping others and the results would certainly be much better.

Everybody doesn’t have to start a social business. Trying to start any kind of business is difficult. But when we get a great idea we want to move on, or are having a brainstorming session to think about our next possible venture, let’s also give a couple minutes to social change. Clear out a corner of the white board for public issues we may be able to help resolve. After all, ideas can come from anywhere and for anything. We just need to open our minds to every possibility and let the rest flow from there.

*Photo credit to: Mark Paik

This entry was posted on Sunday, March 7th, 2010 at 11:30 am and is filed under Entrepreneurship.