SOCIAL ENTREPRENEURSHIP: VIEWING FROM THE LENS OF PHILANTHROPHIC RESPONSIBILITY

The concept of Social entrepreneurship is gaining significant importance not only in India and across the globe. It is not recently emerged concept but it has risen to new heights in recent days and has been accepted from wider perspectives. People view the concept of social entrepreneurship from the Philanthropic lens. Generally, entrepreneurs aim at economic benefits and also they majorly concentrate on Maximization of Shareholders wealth. Generally, entrepreneurs or any business units measure the growth and success of business in terms of profits generated from successful operations and ignores social well being. In the current business scenario hefty industrialization, monetary development, diversity have reclaimed seat or indeed, even out of the sight across the globe. Including India, with an idea of social enterprise concept sloping upward in India and across the globe social entrepreneurship has helped in serving Triple bottom line in more significant way than the recent past alongside living the soul of business to its fullest extent. Entrepreneurs should equally balance the profit, people and planet. Entrepreneurs should consider Corporate Social Responsibility (CSR) as a faithful responsibility than mere formality. The concept of social entrepreneurship is combination of entrepreneurship and societal wellbeing. Some of the emerging companies have taken initiative of doing business which shaped society in positive manner through social entrepreneurship. The present study intends to look over the two major characteristics of Social entrepreneur i.e, Sense of social commitment and non profit motive for social well being. Besides, the study aims at understanding the conceptual dimensions pertaining to Social entrepreneurship. The present study is purely conceptual in nature and authors have collected data and information from various sources like articles published in journals, websites and from other online sources.