When the question “what defines a social enterprise?” was asked during class 20, I initially thought of local non-profit charities from my hometown which provide services and products to help solve community issues.
However, following the class I soon learned the true meaning of the term, acknowledging that a social enterprise exists in its own distinct category, differentiating it from both charities and traditional enterprises. The main goal of a social enterprise is to make profit in order to solve a social problem, which Paul Polak, the founder of International Development Enterprises, accomplished. He saw an opportunity and took the leap of faith that allowed him to succeed in lifting 17 million people out of poverty. The objective of International Development Enterprises (IDE) is to help farm families, who are fighting poverty, increase their income by improving market access, increasing agricultural production and creating sustainable local business. By using profits and applying market base strategies, IDE is reaching one step further to achieving their social mission of ending poverty.
Gaining the knowledge on the true meaning of a social entrepreneur has greatly deepened my appreciation and view of their main motives. The achievements and purposes of social enterprises are very inspirational, myself being a highly involved participant in volunteering, wanting to offer as much as I can in solving social issues. If someone were to now ask me “what defines a social enterprise?” I would be able to tell them the true definition, expressing passion and admiration when doing so.
