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An Analysis on social entrepreneur Bill Drayton

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Introduction
With increasing competition and globalization in the market, organizations need to consider social aspect of the business. Business is no more a profit making phenomena; rather it is a societal concept that aims at fulfilling the needs of society in the best possible way. The main objective of this report is to understand the concept of social entrepreneurship in detail. This report comprises of an in-depth analysis on well known social entrepreneur Bill Drayton. It will include information on the elements of social entrepreneurship of Bill Drayton and much more. It will help the students in understanding the application of the concept in corporate world.

About social entrepreneurship


Social entrepreneurship is a concept invented in the year 1972 on papers but its wide application has been noticed since last decade. It is a form of entrepreneurship in which the entrepreneurs tries to find innovative business ideas to solve social problems (Yunus). The prime focus of the social entrepreneur is to provide positive return to the society. Social entrepreneurs aim at creating new combination of people, resources and ideas to help the society at its best.

Elements of social entrepreneurship


The sole aim of social entrepreneurship is to serve the society and innovating new ways for growth and development. The major element of the social entrepreneurship includes the following;

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Social entrepreneur aims at impacting the social elements at local, regional, national and international aspects. Whenever a social entrepreneurship idea is being evaluated, it is important to check how it is impacting the society. It is also important to see that the methods used are innovative and add to the value. Social venture aims at developing new methods, business models and strategies (Robinson). After evaluating the idea, it is crucial to evaluate its financial viability as well. It should be positioned in such a way that it can fulfil its long term objectives. Another important aspect is measuring the social impact of the venture and contribution made by the venture in the welfare of the society at large.

About Bill Drayton


This report will focus on the famous social entrepreneur Bill Drayton, who is regarded among the top business leaders in USA. According to Drayton social entrepreneurs are the one who provides innovative solution to the most difficult problems faced by the society (Bornstein). He is the founding father of the well known non profit organization AshokaInnovator for the public. The main objective of this organization is to identify the social 3|Page

entrepreneurs and help them through a social venture capital. The company is providing services in around seventy countries in the world. The major initiative programs launched by the brand include Change makers, Youth Venture, and Full Economic Citizenship.

Reason for considering Bill Drayton as social entrepreneur


The initiatives taken by Bill Drayton is helping in developing group of social entrepreneurs who will transform the society in a positive way, it will help in designing new ways and strategies that make the social sector more productive and globally integrated (Drayton and Budinich). Organization aims at identifying the key skills amongst the social entrepreneurs and then shares the knowledge with the world. The entrepreneur is encouraging youth and working for the welfare of the society. The initiative taken by Bill Drayton is fulfilling all four major elements. They help in the long term development of the society, it also increases knowledge sharing and build stronger economy. Bill Drayton has proved that creative thinking can help in solving difficult social problems.

Market Opportunities in Ten Great Divides


The initiatives taken by Bill Drayton reflect market opportunities for finance, education and demographics. The company aims at developing youth entrepreneurs, encouraging creativity and innovation (Elkington and Hartigan). For this purpose programs like change markers and youth venture are very helpful. Further, entrepreneur also aims at sharing his knowledge and strategies with the society at large.

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Conclusion
The above analysis helped in understanding the concept of social entrepreneurship in detail. The analysis also shows how Bill Drayton has worked for the welfare of the society and helped in its growth. The major finding of the report states that social entrepreneurship is all about thinking for the long term development of the society in an innovative manner. Bill Drayton has proved to be a successful social entrepreneur as he helped in the development of social entrepreneurs by promoting their ideas. Finally it can be concluded that social entrepreneur means a good entrepreneur with a big idea.

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Bibliography
Bornstein, David. How to Change the World:Social Entrepreneurs and the Power of New Ideas, Updated Edition. London : Oxford University Press, 2007. Book. Drayton, Bill and Valeria Budinich. A new Alliance for Global change. Harvard Business Review (2010): 2-9. Journal . Elkington, John and Pamela Hartigan. The Power of Unreasonable People: How Social Entrepreneurs Create Markets That Change the World. Boston : Harvard Business Press, 2008. Book. Robinson, Jeffrey A. The Four Critical Elements of Social Entrepreneurship. 21 January 2011. redefinethegame.blogspot.in. Blog. 2 November 2012. Yunus, Muhammad. Creating a World Without Poverty: Social Business and the Future of Capitalism. NewYork: Public Affairs , 2007. Book .

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