A study of Basic Framework of Social Entrepreneurship and Present Opportunities in social Enterprising Domain in India

 

Sunil Shah, A. K. Sapre*

Research Scholar, Department of Management, International Institute of Professional Studies

Devi Ahilya Vishwavidyalaya, Takshshila Campus, Indore – 452001.

*Corresponding Author E-mail: shah_sunil99@yahoo.com, aksapre@gmail.com

 

ABSTRACT:

In recent years, social enterprises have been receiving increased attention in many parts of the world. In India, the number of social enterprises has increased fast and more support has become available in all dimensions. India has been witnessing a magnificent growth in the number of social enterprises, especially in last seven - eight years. Social enterprises tend to operate with a purpose of creating value for the society and also generate income. The solutions they offer are innovative, unique, people, affordable and environment friendly. Social enterprises play a crucial role in local communities by creating new opportunities in terms of employment, income growth, enhanced provision of services, increase in local income retention and engaging the community in development programmes. Despite of this remarkable contribution and growth, there is lack of adequate empirical studies to understand the social entrepreneurship ecosystem within the country. This research is conducted to understand the basic framework of social entrepreneurship that has evolved over time and study the present opportunities available in social enterprising domain in India.

 

KEYWORDS: Social change, Social capital, Socio-economic development, Innovation, Sustainability, Social Impact, Social entrepreneurs. Social Entrepreneurship, Economic Development, framework, opportunities, Base of pyramid.

 

 


1. INTRODUCTION:

The entrepreneurship has many types. One that is discussed in the context of this study is Social Entrepreneurship. This type of entrepreneurship is unique in nature and has different blends of components. Social entrepreneurship fills the gap which is left unattended by economic entrepreneurship. It makes its profits as against to social work/services by selling a unique and innovative product/services to underprivileged and neglected section of customers (to be precise people living at the base of pyramid), helping them grow and develop the standards of living, while social entrepreneurs make money out of it.

 

Social enterprises, in India as in many other parts of the world, have received increased attention in recent years. Their numbers are on the rise and they are now being widely recognised as important engines for growth and jobs generation. Through innovation and scalable technology, social enterprises generate socially impactful solutions, and thereby act as vehicles for socio-economic development and transformation.

 

The economic development of a nation depends on its industrial development. The industrial development is based on the entrepreneurial competencies of the people. Entrepreneurs are innovative, highly motivated, and critical thinkers. When these attributes are combined with a drive to solve social problems, a social entrepreneur is born. Social enterprises are the organizations which aim their efforts toward improving the general welfare of society and they apply market-based strategies to achieve a social purpose.

 

Austin, J Stevenson and Wei-Skillern (2006): "We define social entrepreneurship as innovative social value creating activity that can occur within or across the non-profit business or government sectors."

 

Social entrepreneurship It is a construct that blends the idea of a commercial enterprise with the tenets of a charitable non-profit organization. It is about creating business models revolving around low-cost products and services to resolve social inequities. It helps to succeed in economic initiatives, and all the investment focuses on the social and environmental mission.

 

Wikipedia defines social entrepreneurship as “Social entrepreneurship is the work of a social entrepreneur. A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. Whereas a business entrepreneur typically measures performance in profit and return, a social entrepreneur assesses success in terms of the impact she/he has on society.”

 

Zahra, Gedajlovic, Neubaum and Shulman (2009): "Social entrepreneurship encompasses the activities and processes undertaken to discover, define and exploit opportunities in order to enhance social wealth by creating new ventures or managing existing organizations in an innovative manner."

 

Social entrepreneurs are also called social innovators as they are the agents of change and create significant change using innovative ideas. They identify the problems and build the difference by their plan, product and services.

 

The social entrepreneurship is most suited to nations which have burning social developmental issues. India being a developing nation has its own social challenges and social developmental issues. Social entrepreneurship has the potential to resolve majority of the social inequalities which are prevailing in India. In recent times, many social start-ups/new ventures have developed keeping social interests in mind and providing sustainable solution to social issues and earning their profits as well.

 

Social entrepreneurs and social enterprises share a commitment of going ahead with a social mission of improving society. There is a great difference between social entrepreneurs and non-profit organizations on the basis of their goals and objectives. Social entrepreneurs are driven by social as well as financial goals whereas non-profit organizations work purely for social purpose. An understanding of whether and how social entrepreneurship differs from processes and activities by political actors or social activists who also aim to bring about social change or alleviate social problems.

 

Although social enterprises occupy themselves with the usual business aspects: an appealing product or service, good customer service, ensuring customers return; they can still be regarded as somewhat rebellious in the business milieu. For social entrepreneurs, their market is society and the product they are providing is innovation and transformation within this society. Though social enterprises have a lot in common with standard for-profit business models, maximizing financial returns is not the main aim. Here, the objective is social and environmental enhancement.

 

Social entrepreneurship is, at its most basic level, doing business for a social cause. It might also be referred to as altruistic entrepreneurship. Social entrepreneurs combine commerce and social issues in a way that improves the lives of people connected to the cause. They don’t measure their success in terms of profit alone – success to social entrepreneurs means that they have improved the world, however they define that. Social entrepreneurs are individuals who try to tackle society’s most pressing problems and attempt to drive social innovation in fields such as healthcare, agriculture, education, environment and human rights, using new approaches and products and more rigorous applications of known technologies or strategies. The way they pursue these goals is what makes them distinctive. Similar to a business entrepreneur, a social entrepreneur operates with entrepreneurial determination and business methods to create financially-sustainable organisations that often have an income-generating stream built into the business model.

 

2. REVIEW OF LITERATURE:

A literature review is a survey of scholarly sources (such as books, journal articles, and theses) related to a specific topic or research question. It is often written as part of a thesis, dissertation, or research paper, in order to situate your work in relation to existing knowledge.”

 

Singh, Partap, Dr. in his research paper title “Social Entrepreneurship- A growing trend in Indian economy” (2012) underlines that “Social entrepreneurship is the recognition of a social problem and the uses of entrepreneurial principles to organize create and manage a social venture to achieve a desired social change.

 

Earnest and Young in their report title “Social Entrepreneurship-Emerging business opportunities” (2014) states that “Creating value for society in many countries the role of the government in the socioeconomic domain is shifting towards privatization of public responsibilities. As a result, charities receive less public funds and social entrepreneurship is gaining momentum worldwide. Research in the fields of activity of social enterprises in Europe shows that social entrepreneurs focus on social services, employment and training, the environment (including cleantech and bio-systems), education and community development.

 

Report by Swissnex India title “Social Entrepreneurship in India- Unveiling the unlimited opportunities” (2015) underlines that “Social entrepreneurship in terms of operation and leadership could be applicable to non-profit organizations as much as for-profit social enterprises although in terms of activities and legal entity they are very different.” Models for social entrepreneurship in India are Social for-profit enterprise, non-profit and hybrid model.

 

Banodia (2017): The performance of social enterprise is always measured in terms of social change brought about in the beneficiary groups as against a business entrepreneur, where it is measured by the profit generated in the due course of the business. Social entrepreneurs are local change makers and try to improve the existing system with their innovative ideas and solutions. On close examination of the existing conditions, it can understand that personality traits of persons engaged in social entrepreneurship plays an important role in their social entrepreneurial intentions. Social entrepreneurship can be stated as a combination of passion for a social mission with an image of business associated with innovative ideas. Opportunities for a social enterprise lies in different zones like health, sustainable agriculture and technology, education, renewable energy, food and nutrition, water and sanitation, environmental sustainability etc. Social entrepreneurs focuses on activities for underserved, neglected or highly disadvantaged population who lacks any means for participation in nation’s development process. Social entrepreneurship can be viewed as an attempt to bring out social equilibrium and thereby paving the way for minimizing economic disparity in the society. The social enterprises should seek a blended return on investment which includes ‘social’ and ‘financial’ return on investment.

 

Shruti (2018): Promoting sustainable livelihood is one of the most important function of social entrepreneurship. India being one of the world’s most advanced market in terms of impact investing, the possibility of economic development through social entrepreneurship in the agricultural sector is extremely high. Social enterprises for agricultural development can be encouraged in the field of milk production and distribution, social incubation services for agricultural crop development, and also in the field of organic farming, and aquaponics. The factors that will help in the development of social entrepreneurship can be broadly classified into personal, social, economic, cultural, and environmental. Personal factors include knowledge and education, attitude, and skills. Social welfare, social values and innovation are the basic factors included under the social construct. Economic variables include capital formation, resource utilization and marketing opportunities. Entrepreneurial culture, not-for-profit motive and supportive environment are the factors aligned to the cultural variable. Environment factors contributing to entrepreneurial development involves possibilities of collaboration, globalization, and exposure to international markets. The paper concluded by recommending social entrepreneurship in the field of agricultural and rural development, and as a sustainable solution for the socioeconomic development of the country.

 

Nair (2020): Social innovations involving new products, services, technologies, and interventions leading to better market performance can be regarded as the significant impacts of social entrepreneurship. The drivers of social entrepreneurship can be broadly classified as internal and external causes. The internal drivers can be personality traits and self-efficacy of the entrepreneur. The external forces can be categorized as economic, social, or political factors. These may vary across different geographical regions. Antecedents of social entrepreneurship includes the feasibility of social entrepreneurs in the decision making regarding human capital, social capital, social environmental factors, and organisational specific factors. Social entrepreneurs are driven by their ethical obligations to the society; however, egoism may lead them to practice unethical acts. Since social impact is a variable that is mostly identified as a qualitative variable, measurement of social impact created by a social venture is incredibly difficult. This difficulty in measuring the impact in quantitative terms often stand as a barrier in conveying business ideas, attracting prospective donors, grabbing government support, sustaining employees and in establishing meaningful networking and collaborations. Some of the evolving quantitative techniques that can be used in measuring the impacts on social-well-being through social entrepreneurship are social accounting and auditing, balance scorecard, BACO ratio, cost per impact, cost benefit analysis and blended value.

 

People perceive social entrepreneurial activities varyingly due to differences in geographical and cultural context (Mair and Marti, 2006). Regardless of the varying meanings, a major element that is found in all definitions is social mission as the crucial driving force of social entrepreneurs (Leadbeater, 1997). Austin et al. (2006) argues that the key difference between social and other entrepreneurship is related to purpose of the enterprise or what the enterprise is trying to maximize. As per the research, findings suggest that, for social entrepreneurs, the most crucial part is to maximize the social impact, simultaneously addressing an ignored social need (McMullen, 2011).

 

3. OBJECTIVES OF THE STUDY:

The objectives have been selected on the basis of the importance and rationality of the research title in mind.

The objectives of this research paper are as follows:

I.) To understand the basic framework of social entrepreneurship in India.

II.) To study the present opportunities available in social enterprising domain in India.

 

4. RESEARCH METHODOLOGY:

The aim of this study is to provide a comprehensive understanding of both the basic framework of social entrepreneurship and present opportunities in social enterprising domain in India.

 

The research methodology which is applied during the research study is descriptive in nature. A vast amount of literature in social enterprising domain has been reviewed and synthesized. Secondary data has been used and the research is strictly done to meet the objectives set beforehand for the present study.

 

The data and information which is furnished in the study is taken from the various secondary sources. Various reports and studies, books on social entrepreneurship have been refereed in the present research. Research schola has reviewed 117 sources (like existing research papers/reports/company websites / journal etc.)

The sources from where the data has been collected for the present study is listed below:

a.     Reports of various industrial and commercial agencies like ADB, GIIN, Intellecap, CII, ASSOCHEM, and FICCI etc have been duly referred for the study.

b.     Published reports from government bodies like ministry of commerce and industries

c.     Research papers on related topics have been taken for the inputs

d.     Web resources related to the topic have been used for the information

e.     Websites and published material of social enterprises working all over India and globally.

All the other published material on social entrepreneurship or entrepreneurship has been referred during the research.

 

5. FINDINGS AND DISCUSSIONS:

5.1 According to this study India’s development sector has undergone a rapid transformation including the creation of social enterprises that are purely for-profit companies and no longer restricted to “no-profit” or “low-profit” ventures. These for-profit social enterprises can generate enough funds to run their operations without donations or grants.

According to this study, the country’s social entrepreneurs are being nurtured, encouraged and hailed for being able to meet India’s most challenging developmental demands.

 

According to the Impact Investors Council (IIC), around 700 social impact enterprises in India now affect 500 million lives, attracting over USD 12 billion in capital.

 

Impact Investors Council (IIC) is the leading national industry association of Impact Investors in India.Its mission is to encourage private capital to bridge the social investment gap in the country while developing an impact investment asset class.

 

5.2 The development sector in India has experienced a rapid shift, leading to the emergence of social enterprises that are wholly for-profit businesses and are no longer limited to "no-profit" or "low-profit" endeavours. Without donations or subsidies, these for-profit social companies can make enough money to support their operations.

 

This study reveals that the Indian government is slowly realizing the worth and impacts of social entrepreneurship in India and taking proper actions to increase the aptitude of people towards social entrepreneurship.

 

The Securities and Exchange Board of India has recently released the framework for a Social Stock Exchange, making it possible for social entrepreneurs to raise more funds and expand their impact and reach exponentially.

 

5.3 This study reveals that today’s social entrepreneurs have become elemental innovators and dynamic problem-solvers contributing to India’s development. These enterprises are looking for strategic collaborations, both domestic and international, to innovatively solve unique problems. Extensive use of technology and rapid digitalisation initiatives by Indian government have further facilitated their innovation streak.

 

The social entrepreneur wants to put people first. They have a heart for people and their needs. They have a social mission - they are interested in uplifting communities and bringing about social transformation and change. The social entrepreneur wants to empower people and make a positive impact on their lives. The social entrepreneur wants social impact to be competitive and visible, with a strong focus on sustainability. The social entrepreneur wants to respond to socio-economic circumstances and provide solutions. They want to act as an intermediary - as a catalyst and representative. Reaching people is just as important or more important to the social entrepreneur than making profit. The social entrepreneur is entrepreneurial, but within the integrated space of business/ profit and social mission. The social entrepreneur wants to break up the divide between purely for profit, and purely non-profit. Social entrepreneurship brings together the stakeholders and resources necessary for social impact.

 

5.4 The present study reveals that Indian social enterprises are social mission driven and have following major objectives:

5.4.1       Creating employment opportunities,

5.4.2       Addressing social exclusion,

5.4.3       Providing basic amenities at affordable cost,

5.4.4       Empowering women,

5.4.5       Addressing financial exclusion,

5.4.6       Protecting the environment,

5.4.7       Supporting vulnerable community and Rural community development and more.

This study reveals that primary beneficiaries of social enterprises in India are women, youth, people from backward communities, children, people with disabilities and people living at the base of pyramid.

 

This study shows that social entrepreneurship focuses on deprived/weak section of society, India has over 29 crore people living under such conditions. So social entrepreneurship becomes relevant and it is needed the most for uplifting this section of people. Moreover, in India social entrepreneurship address the social problems, such problems may include illiteracy, girl child abuse, financing, health, potable water etc. Social entrepreneurship helps in meeting these social problems by capitalizing the local resources and applying entrepreneurial principles. In that case we need social entrepreneurship, so that we can minimize the impacts the social problems.

 

This study further suggests that social entrepreneurship also innovates like any other branch of entrepreneurship, but this innovation is slightly different. This innovation is termed as social innovation, as they are focused upon the social problems. The social innovation is nothing but finding out the most innovative and unique solution of social problems.

 

According to this study presently social entrepreneurship is facing a lot of challenges in India and these challenges are very evident as the growth of social entrepreneurship is very low as compared to the other regions in developed nations.

 

5.5.         This study reveals that there are four types of social enterprises operating presently in India.

 

5.5.1       NGO: NGO stands for non-governmental organization. While there is no universally agreed-upon definition of an NGO, typically it is a voluntary group or institution with a social mission, which operates independently from the government.

 

5.5.2       Leveraged non-profit ventures: This is a non-profit type of venture. The entrepreneur engages a cross section of society, including private and public organisations, to realise a particular social innovation. Leveraged non-profit ventures depend on outside philanthropic funding, but since their partners have a vested interest in their continuation, longer-term sustainability is often enhanced.

 

5.5.3       Hybrid non-profit ventures: A non-profit type organisation as well, but this model includes some cost-recovery by means of selling goods and services. To be able to sustain their activities, entrepreneurs must mobilise other sources of funding besides public or philanthropic sectors. Grants or loans offer a solution to money shortages. These loans, however, need to be paid back at a certain point. 5.5.4

 

5.5.4       Social business ventures: Social business ventures are for-profit entities that provide a social or ecological product or service. Although financial profits are an underlying goal here, accumulating wealth is not the main objective. The focus of the enterprise is to grow as a social venture in order to reach more people in need and positively impact one or multiple sectors of society. Hence, a great deal of the profits is reinvested in the enterprise to fund expansion. The entrepreneur of this type of venture seeks investors who are interested in combining financial and social returns on their investments.

 

5.6    Opportunities for social entrepreneurs in India where they can/ are making a social impact:

 

Social ventures are scattered around the world, active in the fields of healthcare, education, human rights, culture and environment, among others.

 

This study suggest that in India opportunities in social entrepreneurship are based on the need to create social value which benefits the local community. A social enterprise usually does this by solving a problem or providing assistance in an area of need. Major opportunities in Indian social enterprising domain:

 

5.6.1       Healthcare: One key area where social entrepreneurship is playing a big role is ensuring people’s access to healthcare. This can be done by setting up new hospitals and affordable health clinics, providing medicine, but also by educating patients, who in turn can help out in understaffed clinics.

 

5.6.2       Waste Management: In a country like India, solid and liquid waste management are undoubtedly the corner stone for a clean and green India. It is clearly an area of focus.

In Indian context, this is a journey or race with no 'finish line'. On the ground, various solutions, best practices and business models have emerged. In some areas, we see some cases of dramatic turnarounds. In many other cases the situation is only worsening owing to delays and at best inaction. Progress is visible in the space of solid waste management. Sewage or liquid waste management is still largely left to traditional approaches and conventional systems that either don't work or are fraught with gaps in implementation. The current solutions are infrastructure based, require large investments and are always on a catch up mode. But you as an entrepreneur you can tap this unexploited space with you innovate idea and can churn out money from here.

 

5.6.3       Education: Another field of work in which social entrepreneurship fares well is education. The emphasis here is not on generating revenue and many organisations in this sphere operate as some sort of non-profit venture.

 

Since access to proper education remains a big problem in India, many social entrepreneurs set out to tackle this. Decreasing drop-out rates, helping students on their educational pathway, boosting attendance, training teachers, providing course materials or infrastructure; a lot can be done by social ventures to enhance education worldwide.

 

5.6.4       Deep Cleaning Services: To keep India clean and green Prime Minister Narendra Modi has initiated the Swatch Bharat Campaign. But only initiating such campaign won't make India clean. We need to work together towards this ambition to make our country tidy. And for aspiring entrepreneurs this a great sector to tap. Cleaning industry is still untapped and it needs young blood to step in and change the face of the sector by using their innovative skills and techniques.

 

5.6.5       Human Rights: When it comes to human rights, social enterprises strive to safeguard matters such as liberty, pursuit of happiness, living free from discrimination, freely exercising religion, freedom of speech, fair trial and more. Educating people, negotiating with governments, providing safe havens, raising public awareness; these are all strategies employed by social enterprises and in doing so, they often help out those who live under the most worrisome circumstances.

 

5.6.6       Green Infrastructure: It is vital in providing and connecting life support systems for urban environments. It includes parks and reserves, gardens, waterways and wetlands, streets and transport corridors, pathways and greenways, squares and plazas, roof gardens and living walls, just to name a few. This space provides huge opportunities for entrepreneurs to meet India's green infrastructure needs in 2022 and beyond.

5.6.7 Culture:

An enterprise might use culture to promote social transformation and community integration but it may also boost culture simply for culture’s sake. For social enterprise Artscape culture is more a goal than a means to an end. This Toronto-based organisation generates spaces that emphasise culture and creativity (think event spaces, studios and residential areas) and provides viable living areas for artists. An agreeable side-effect of this creative placemaking is the vibrancy that the artists add to city districts. This, however, often triggers the so-called “SoHo effect”, a phenomenon when artists move into low-rent neighbourhoods, make these desirable, but are eventually forced out due to rising real estate values. To prevent this from happening, Artscape establishes trust relationships between real estate developers, government housing agencies, the arts and culture community, and local community groups.

 

5.6.8 Water management: Water is one of the most important element of life. But the scarcity of drinking water, is appalling. In today's time, access to clean water is the biggest achievement for any family living in remote areas of the country. A social entrepreneur, can look into this matter and figure out the best way to solve this problem with the help of his/her entrepreneurial skills and network.

 

5.6.9       Environment Protection:

In India social entrepreneurs have plenty of possibilities to focus their attention on with regards to the environment: developing businesses that supply sustainable products or services, distributing resources responsibly, waste disposal management, emissions reduction, preserving land and wildlife or even negotiating with municipalities, companies and governments to decrease their ecological footprint.

 

6. CONCLUSION:

From the above discussion, it can be concluded that that social entrepreneurship in India is a synergistic combination of entrepreneurial traits and philanthropy. It is an excellent collaboration of social service and entrepreneurial skills to address the present social problems. It has the capacity to socially innovate. These innovations are the exact and creative answer to social issues/problems which are prevailing in India.

 

Presently the Indian market offers many opportunities for social enterprises and in turn, social enterprises carry great hopes to promote growth and create employment specially for marginalised people.

 

Over the last six-eight years, number of social enterprises has increased in India and the associated social enterprise ecosystem has started developing fast. Consequently, support has increased in many dimensions like office space and infrastructure, support in regards to mentoring and networking, as well as the availability of financial capital. There is palpable optimism that the this ecosystem will continue to mature. Nevertheless, Indian social enterprising faces significant challenges. Overcoming such hurdles will require efforts of all stakeholders, i.e. the ecosystem actors, governmental authorities, as well as the social enterprises themselves. In addition, changes in the broader cultural milieu would be helpful to encourage people taking risks and possibly developing impactful solutions.

 

In India social entrepreneurs mostly concentrate on addressing social issues. They start innovation by utilising the resources at their disposal to create social structures in response to societal issues. They are considered social as social change agents i.e. social entrepreneurs in India act as change agents in society, influencing others to advance humankind. They serve as social change agents as well as powerful catalysts in society. They take on the job of generating and maintaining societal value, actively seeking out new opportunities while continuously innovating, adapting, and learning.

 

One of the most important needs of social entrepreneurship is towards bottom of the pyramid. This “bottom of the pyramid” is referred to the people who have minimalistic income, but high acceptance for social innovations. There are many social enterprises which have prepared their products and services for bottom of the pyramid as well. Social entrepreneurship is the only way to fulfil the needs and demands for bottom of the pyramid; this argument is the strongest for the existence of social entrepreneurship in India.

 

This study collected a plethora of perspectives on the current state of Indian social enterprising ecosystem. It researched the basic framework of social entrepreneurship in India and identified the opportunities available for social enterprises in the country.

 

The need of the hour is a nourishing ecosystem for social entrepreneurs to take up programmes, bridge pandemic-induced gaps, scale-up existing initiatives, and be part of the mainstream response system.

 

7. SIGNIFICANCE OF THIS STUDY AND FUTURE RESEARCH:

The generalization of this study would provide a substantial contribution to the enormous body of knowledge regarding social entrepreneurship, its provisions, and its activities in India. Additionally, this study's findings might be very important and helpful for future researchers, potential social entrepreneurs, social and corporate groups, policymakers, management experts and academicians.

Future research may be undertaken on social entrepreneurship and economic development: The impact of social entrepreneurship on economic development, particularly through personal development and social upliftment. Research can consider the degree and factors of success, as well as best practices in this regard.

 

8. CONFLICT OF INTEREST:

The authors have no conflicts of interest regarding this investigation.         

 

9. REFERENCES:

1.      Adarsh Bhat (2015), Challenges-Early Stage Social Entrepreneurs Retrieved from http://www.unltddelhi.org/challenges-early-stagesocial-entrepreneurs.

2.      Banodia, Smita, Gupta and Nishith Dubey. (2017). Role of social entrepreneurs as social change agents: An insight. Research Journal of Management Sciences, 6(2): 19-22.

3.      Bulsara, H. P., Gandhi, S., and Chandwani, J. (n.d.). Social Entrepreneurship in India: An exploratory study. https://doi.org/10.5585/iji.v3i1.20

4.      Dees, J. G and Anderson, B. B. (2003). Sectorbending: blurring lines between nonprofit and forprofit. Society, 40(4): 16–27.

5.      Digvijay Singh, Sunil Kumar Niranjan. Foreign Direct Investment in India: A Trends Analysis. Research Journal of Humanities and Social Sciences 2022; 13(2): 101-4. doi: 10.52711/2321-5828.2022.00017

6.      Global Impact Investing Network, https://thegiin.org/impact-investing/need-toknow/#what-is-impact-investing.

7.      Khyati Kochhar. Green Finance: An approach towards Sustainable Development Goals (SDGs). Asian Journal of Management. 2022; 13(1): 17-0. doi: 10.52711/2321-5763.2022.00004

8.      Kim, M., and Kim, M. (2018). Cases in Social Entrepreneurship and Sustainability. In Case Studies in Social Entrepreneurship and Sustainability (pp. 4–7). Routledge. https://doi.org/10.4324/ 9781351278560-2

9.      Low, M. B., and Macmillan, I. C. (1988). Entrepreneurship: Past Research and Future Challenges. Journal of Management, 14(2): 139–161.

10.   Mair, J., and Marti, I. (2006). Social entrepreneurship research: A source of explanation, prediction and delight. Journal of World Business, 41: 36-44.

11.   Megha Chhaochharia. Green Finance in India: Progress and Challenges. Research Journal of Humanities and Social Sciences. 2021; 12(4): 223-6. doi: 10.52711/2321-5828.2021.00039

12.   Nair, Savitha. (2020). Antecedents of social entrepreneurship: Evidences from India. 2nd International Conference on Applied Research in Business, Management and Economics.

13.   Niyogi, S., and Paliwal, S. (2019). Development and practice of social entrepreneurship in India. International Journal of Scientific and Technology Research, 8(11): 3421–3426.

14.   Prashant Debnath, P. Chellasamy. An Empirical Study on Issues and Challenges of Corporate Social Responsibility Activities in India. Asian Journal of Management. 2022; 13(4): 345-0. doi: 10.52711/2321-5763.2021.00056

15.   Priya Rao. State Surveillance and Corporate Surveillance. Research Journal of Humanities and Social Sciences. 2022; 13(3): 193-0. doi: 10.52711/2321-5828.2022.00031

16.   Prochazkova, P. T. (2016). Social entrepreneurship: Definition and specifics. Proceedings of the 28th International Business Information Management Association Conference – Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth, 164–172.

17.   Rajdeep, Deb and Nagari, Mohan Panda. (2017). Social proclivity of social entrepreneurship in secondary education of Assam. Amity Journal of Entrepreneurship, 2(2): 12-24.

18.   Rama Rao Bonagani. Public Financial Services Schemes for the Financial Inclusion of People under the BJP led NDA Central Government in India. Research Journal of Humanities and Social Sciences. 2022; 13(3): 147-8. doi: 10.52711/2321-5828.2022.00025

19.   Rangan, Kasturi, V. and Tricia, Gregg. (2019). How social entrepreneurs zigzag their way to impact at scale. California Management Review, 62(1): 53-76.

20.   S. Nagendra, V. S. Manjunath (2008). Entrepreneurship and Management. Bangalore: Pearson.

21.   Shruti, Mohapatra; Girija Shankar Khadanga and Sujit, Majhi. (2018). Social entrepreneurship for agricultural development in India. The Pharma Innovation Journal, 7(4): 204-205.

22.   Singh, Partap. (2012). Social entrepreneurship: A growing trend in Indian economy. International Journal of Innovations in Engineering and Technology (IJIET), 1(3): 44-52.

23.   Suresh Seth (2011), Social Entrepreneurship: A growing trend in Indian Business.

24.   Tripda Rawal. (2018). A study of Social Entrepreneurship in India. International Research Journal of Engineering and Technology. http://www.developmentgoals.org

25.   Umashankar Ram. The British Rule and its effect upon Social, Cultural and Economic Status of Rural India. Res. J. Humanities and Social Sciences. 2020; 11(4): 345-349. doi: 10.5958/2321-5828.2020.00054.6

26.   Upadhyay, C. S., Rawal, P., and Awasthi, A. (2017). Uplifting Society by Providing Innovative Solutions: A study of Social Entrepreneurship in India. International Research Journal of Engineering and Technology (IRJET), 4(5): 941–951.

27.   Zahra, S.A., Gedajlovic, E., Neubaum, D.O. and Shulman, J.M., 2009. A typology of social entrepreneurs: Motives, search processes and ethical challenges. Journal of business venturing, 24(5): pp.519-532.

 

 

 

 

Received on 01.12.2022         Modified on 08.02.2023

Accepted on 20.03.2023      ©AandV Publications All right reserved

Res.  J. Humanities and Social Sciences. 2023;14(1)17-24.

DOI: 10.52711/2321-5828.2023.00004