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Social enterprises backed by social finance
March 28, 2022
A traditional business model focuses on employing people to expand their market shares and customer base while guaranteeing an increase in the profits of an organization. Entrepreneurs plan and set up their business while trying to bring in innovation to break the traditional norms.
The social entrepreneurship model is lined up with similar business ideas yet works with one fundamental difference. Social entrepreneurial ventures face the challenges and efforts to design and execute solutions for improving the socio-economic conditions of low-income populations and marginalized communities.
Social entrepreneurs are at the cutting edge of applying the standards of organizations and the executives in driving societal change at the grassroots level by maximum optimum use of technology, human capital and social capital.
Social finance is a blended financial product that considers all the government assistance assets accessible for individuals with government authority, civil society, and other institutions to improve their standard of living.
Technology serves as a bridge to connect the poor with mainstream finance and markets. The Government of India’s Jan Dhan scheme is a great example of this under which the deposits have crossed 1.5 trillion rupees.
Important Links:
- Post Graduate Diploma in Management (PGDM): https://tscfm.org/courses/3-in-1-management-program/