For this discussion, it was chosen to focus on Edward Norton’s for-profit crowdfunding platform CrowdRise. Norton is a US actor and filmmaker who decided to take part in fundraising for individuals and organizations for both charitable and personal causes (Cressman, n.d.). The business implements gamification as a system of rewards encouraging users to engage in fundraising and donating to individuals and businesses in need (Weiss, 2014). Its main model is donation-based, and the default of each campaign is that one keeps what they raise during it. Regarding CrowdRise, it is crucial to understand the differences between social enterprises and non-profits. The company is a social enterprise operating as a for-profit business through selling a service or product to the public and acquiring funds through sales, while non-profits acquire money through fundraising. Besides, in the non-profit world, the score can be kept in the activities of mainly benefiting members.
As with the case with CrowdRise, a social entrepreneur attracts talent by advertising the benefits that their business brings. The idea of crowdfunding focused on sponsored volunteerism; the organization aims to cultivate a generation of young activists who are deeply engaged with the process but “do not take them too seriously” (Chong, 2012, para. 3). Therefore, it is favorable for prominent businesspeople to move into social entrepreneurs because their social power and following can attract individuals to a business. However, the limitations to succeeding entail the pursuit of an income without a clear vision and mission, as well as the absence of a following that shares the values of the social entrepreneur. To encourage social entrepreneurship, the government needs to empower local commissions on decision-making for bettering communities and society in general.
References
Chong, R. (2012). Ed Norton’s CrowdRise brings fundraising (and fun) to the masses. Fast Company. Web.
Cressman, R. (n.d.). Top 10 celebrities impacting the world through social enterprise ventures. Cause Artist. Web.
Weiss, G. (2014). CrowdRise, Ed Norton’s charitable social network, raises $23 million. NBC News. Web.