Inside the Minds of Social Entrepreneurs
Social entrepreneurship has as its goal the development of organizations for the achievement of social good and not for personal gain. First of all, the job description of a social entrepreneur includes the need to play a leadership role within the organization and seek means to achieve public goals. Such entrepreneurs, due to their high creativity and innovative ideas, are agents of change in the social sphere. The tasks of the social entrepreneur include the search and articulation of the socially valuable mission, as well as the search and use of opportunities for the fulfillment of this mission. The social entrepreneur must also be constantly involved in the process of learning and adapting. Such entrepreneurs must also pursue the social good in the face of limited resources (Nascimento & Salazar, 2020). The social entrepreneur is responsible for the outcomes of his or her own and his or her organization’s activities. The social entrepreneur, as the leader of the organization, is responsible for the budget and efficient allocation of resources.
As CEO of After-Hours Academy, my job is to define the organization’s mission and set appropriate objectives in pursuing it. Another primary responsibility of mine is determining the resources necessary for the operation of the company, as well as seeking funding. Additionally, I need to determine the number of expenses and allocate resources efficiently for the organization’s activities. As CEO, I am also responsible for shaping employee and volunteer hiring procedures in line with the organization’s mission and goals. My responsibilities include articulating the vision and value of the company to both potential employees and the audience. As a social entrepreneur, I also need to constantly re-evaluate the company’s performance in accordance with the conditions and transform its operations as necessary. As the leader of the organization, I am responsible for introducing innovations and relevant ideas for the development and growth of the organization.
Social Entrepreneurship Plan Start-up Budget
Venture capital for starting a business should be sought from venture funds that initially support charitable and socially beneficial initiatives. Among the resources, already available to provide financial support to the Academy are loan companies with low annual interest rates, such as Fundbox and Lendio. Collaboration with the Charleston School District is needed to provide space and additional materials for the classroom. Of $300,000 raised as the core budget for the launch of the Academy, half is planned to be paid to company members. The $150,000 is distributed within three months of the company’s launch and is the combined salary of the company president, hired tutors, and website developer. The director of the company, Vallery Roland, takes $15,000 distributed as a salary over 3 month period. 20 tutors as the backbone of a professional team receive $2,000 per month as a salary, which makes $120,000 over a three-month period. $2,000 per month is required to involve as mentors the students from Charleston County themselves. The remaining $15,000 goes towards the development of the Academy’s website. This amount is not very large since a solid online platform requires constant support and well-functioning resource work as a coherent structure.
Reference
Nascimento, L. S., & Salazar, V. S. (2020). On social enterprises and social entrepreneurship: An extension. Brazilian Administration Review, 17(2).