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What kind of impact the social enterprise is looked for?

14/9/2021

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A social entrepreneur is defined as a leader or pragmatic visionary who can use the entrepreneurial principles to create:

  • positive social change
  •  new social value 
  • new way of solving a social problem or challenge.


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​As a way to achieve social impact the typical social entrepreneur usually creates social enterprise. A social enterprise is an operator whose main objective is to have a social impact rather than make a profit for its owners or shareholders. It usually shares the following characteristics: 

  • Social purpose - created to generate social impact and change by solving a social problem or market failure 
  • Innovates by finding a new product, a new service, or a new approach to a social problem, 
  • Continuously refines and adapts approaches in response to feedback. 
  • Achieves large scale, systemic and sustainable social change through a new the invention, a different approach, a more rigorous application of known technologies or strategies, or a combination of these, 
  • Focuses on the social value creation and tries to optimise the financial value creation, 
  • Enterprise approach - uses business vehicles, entrepreneurship, innovation, market approaches, strategic-orientation, discipline and determination of a for-profit business; 
  • Social ownership - with a focus on public good and stewardship, although not necessarily reflected in the legal structure.
 
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The Impact Incubator for Nurturing Sustainability /i2 SustainIT/ Project No. 2019-1-UK01-KA204-061873 has been co-funded by the Erasmus+ Programme of the European Union. 
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