‘An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.’ That is a very common entrepreneurship definition most of us know, but what most people don’t know is that there are several types of entrepreneurship; social and traditional.

Often, people associate entrepreneurs as a profit centered businesses, they prioritize in maximizing their profit. Partially, their perceptions are correct. That is what we know as the traditional entrepreneur. The other half is social entrepreneurship, individuals with innovative solutions to society’s most pressing social problems or simply society centered.

Muhammad Yunus was only 35 years old when he established his own business called Garmeen bank. Unlike other banks, Garmeen give out extension of very small loans (microleans) to those in poverty designed to spur entrepreneurship or popularly known as microcredit. Hhe recognizes a social problem and uses entrepreneurial principals to organize, create and manage a venture to achieve social change. His business helped poor people to escape poverty and he is known as a social entrepreneur, ever since.

This is a little video of Muhammad Yunus upon his social entrepreneurial business.

In short, he is the most influential social entrepreneur in the 21^st century.

Posted: 12|1|10 at 15:32. Filed under: Uncategorized.
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