FUNDAMENTAL OF ENTERPNUEERSHIP

SOCIAL ENTERPNUEERSHIP
SECTION A11
ASSIGNMENT: 1
GROUP MEMBERS
ABDULLAH
MUHAMMAD ARSLAN
BILAL SALEEM
TAHIR GURKI
MUZAMIL QURESHI
ANAS AHMAD
TO MA’AM: KHADIJA NISAR
How is social entrepreneurship contributing towards social change?

“The use of entrepreneurial concepts to innovate new solutions to social and environmental issues
is called social entrepreneurship.”
They say that social entrepreneurs are motivated by two goals: they want the business to impose
a positive effect on society and other to make the business profitable too.
They focus on social and environmental issues like weather change, healthcare, education,
poverty, illiteracy, inequality and many more. They play a vital role in the development and well-
being of society. They advise such models from which they can play a role in the social
development of people, and they also earn profit from them. There are not for profit organizations
and for-profit organizations too which are working as social enterprises. Muhammad Yunas
the founder of Grameen Bank is one of the very earlier social entrepreneurs who started a
microfinance business.
Social entrepreneurship plays a vital role in job development for people as every business need
human resources, so every business creates opportunities for the local people. In this way it helps
in the economic development of people.
Social entrepreneurship also plays a vital role in health care awareness and maintenance in society.
As Bill Gates played a significant role in awareness of severe diseases like AIDS, tuberculosis,
through Bill and Melinda Gates Foundation.
Climate change is also one of the biggest challenges in this world . Social entrepreneurship also
plays a key role in climate change awareness. Like that Poonsap Suanmuang’s an enterprise
working in Thailand is working on preserving nature through sustainable practices.
Social entrepreneurship plays a vital role in the development of people like microfinance banks
which plays a role in upliftment of people from backward areas. Like that Grameen Bank in
Bangladesh which provides loan to poor's and in Pakistan there are enterprises like akhuwat which
have played a vital role in bringing about a social change in the Pakistani society they provide
interest free loans to Pakistani under-privileged people.
Education is a vital factor to bring change to society. Many organizations are working on this goal
as it is said that if you want to develop a society truly provide them quality education. Schools in
Pakistan like The Trust School working which is working to provide the poor students a quality
education free of cost. Near peer an organization provides online education enabling the people
of backward areas to get quality education. Khan Academy works to provide quality education
free of cost.
Social entrepreneurship plays a vital role in the development of social values in society and as
entrepreneurs are innovative people, they play a vital role in advising new, innovative, and
effective solutions to the social issues of a society. As mentioned above they play a key role in the
development of communities
Briefly explain examples of 3 Asian organizations which are working on social entrepreneurship
concept other than examples given in your study material.

INTRODUCTION:
As mentioned above there are several social enterprises working on a goal to serve society and to
profit from that too. A few a discussed below which are working for the betterment of the
society.

Grameen Bank:
a unique microfinance company which was established in Bangladesh in 1976 with the goal of
offering low-income people—especially women—financial services without the need for assets.

History
Following the War of Independence, Dr. Muhammad Yunus left the United States and returned
to Bangladesh, where he took up the position of chairperson of Chittagong University's
Economics Department. To understand the needs of the local rural poor, Yunus left his
theoretical economic models behind and went out into the community to interact with them. He
found that the impoverished frequently had the knowledge of what it took to launch or expand
profitable businesses and agricultural ventures, but they lacked the financial resources to make
the initial commitment. To purchase assets that will increase their earning potential and to meet
their requirements in times of emergency like illness or drought, those in poverty have an urgent
need for credit. Of all the households that took out loans in 1987, 59% were living in poverty.
The average credit amount they received was 537 takas, while the average rich borrower
borrowed 16,507 takas. (Statistical Bureau of Bangladesh, 1989) Because regular banks do not
offer small loans (less than $100US) and require collateral to grant loans, people in need rely on
professional money lenders for credit. These moneylenders have considerable negotiating power
over their needy clients, and they can demand 20% monthly interest rates—interest rates that are
greater than what wealthy people pay for traditional bank loans.
Yunus approached the nearby banks to request loans after realizing how much he needed credit .
Following the banks' rejection, Yunus gave his personal funds to the poor in the area.
Encouraged by his borrowers' high repayment rates and the financial benefits it brought to them,
he established the Grameen Bank to formalize the practice. The goal of the Grameen Bank is to
end poverty by providing microcredit, or small loans to those in poverty.

Objective:
➢ Give poor men and women access to banking services;
➢ Get rid of money lenders who take advantage of the needy;
➢ Provide self-employment opportunities for the substantial number of jobless individuals
in Bangladesh's rural areas;
 ➢ Include those in need, primarily women from the lowest-income households, in an
organizational structure that they can comprehend and operate independently.

BUKSH FOUNDATION:
Objective:
The objective of the Buksh Foundation is poverty alleviation and providing people with
facilities and loans to people who need that.
Buksh Foundation is also a microfinance institute. It was started in 2009 by Buksh Group. The
objective of this is alleviating poverty and women empowerment. It is also a social enterprise
which promised to provide the people with the solution to their problems and to work for their
well-being. It targeted more women than the men in the under-privileged areas of Pakistan to
empower them to make them able to stand out in the society and to make their hard lives a bit
easier.
They provide people in need with interest free loans to start a business for a better future. So that
they could become able to earn and live a much better life.

LIGHTING A MILLION LIVES:

The basksh foundation ladies are also knowns as LIGHT LADDIES of Pakistan. They start
different moments in Pakistan to empower the people living in under-privileged areas. Like
“LIGHTING A MILLION LIVES” (LAML) project the aim of this project was to lighten up
the backward areas of Pakistan means the areas where there is no electricity, they worked to
lighten up those areas they installed micro gid stations they introduced the use of solar energy in
the villages, power plants and many more by which they electrified 95 villages in Pakistan. That
produced 190 technical entrepreneurs in society.
They declare that as Pakistan is facing shortage of natural resources, we are in need to use the
new innovative ideas to maximize the production of energy as use of solar energy. These
entrepreneurs encourage us that we can do a lot as it is said if there is a will there is a way. If
they can electrify the villages, they can provide people with loans and to help them we also
should encourage the new entrepreneurs to work and we should support such people to bring a
change.

NEARPEER:
Objective:
An organization founded by Shahrukh Sawati and Ammar Ali Ayub. It is an organization
working to provide the people living even in distant areas to provide quality education. It is
Pakistan's first such a big online learning platform. It aims to provide education to students all
over the Pakistan and to earn profit too. It is also a social enterprise which is playing a vital role
in development of Pakistani students. Its aims are to provide students with the knowledge and
education to land into top-notch institutes and absolutely education brings about a positive
change in society.

BACKGROUND:
Shahrukh Sawati himself was a boy living in the hills of Mansehra and living a normal life, but
God gave him a chance to study at LUMS (Lahore University of Management Sciences) where
he was introduced by the term entrepreneurship for the very first time. Where he decided that
he would be an entrepreneur in future and with the help of NIC (National Incubation Centre) at
LUMS that dream of his became a reality. He founded a social enterprise which aims to earn
profit but beyond that it also has an aim to shape the youth of the country. As they are
providing the students with quality education at very reasonable prices.
Today it has over 514366 students who are getting education from this platform. They are also
playing a role in developing skills in students as they are providing skills education so that
students can earn money too. They offer courses like CA, CSS and many more.
Overall, it is an enterprise which is playing a vital role in the development of students, and we
should absolutely support such enterprises.

CONCLUSION
Social entrepreneurship plays an important role in the development and well-being of a society.
As mentioned above about many of social enterprises they are working for two motives that they
must help and serve the community and to earn profit. Along with that they shape the society
they address the untold issues they give innovative ideas to the social issues of the people.
Many other enterprises like SEED OUT (an enterprise encouraging the young entrepreneurs to
come forward and they work to manage capital and much more) same as that RIZK an
organization working to collect the extra food and to serve it to the people who are in need of
that so that the food will not be wasted and along with that it will help the poor to fill their
stomachs.
In summary, Social Entrepreneurs are assets of societies. They help in social development, they
help to spread awareness, they provide job opportunities, and much more. As mentioned above
that is how Grameen bank enabled the poor to have loans and to support themselves. Where the
light women helped to lighten up the houses of people. Providing electricity where people even
never assumed that they would get electricity they got electrified. Where Nearpeer helped the
distant students to get high quality education and to manage their studies accordingly. It gives
them the option to study from home. So, we can say that they are a blessing to society.