CHAPTER 12: SOCIAL ENTREPRENEURSHIP AND VIRTUOUS (Sources of islamic…
CHAPTER 12: SOCIAL ENTREPRENEURSHIP AND VIRTUOUS
Different of social, virtuous and traditional business
to solve social problems. - Gather resources to solve social problems
to satisfy some unmet needs
that the welfare systems will not or cannot meet. -
combine visionary and real-world problem-solving capacity
braced by string ethical fiber and the zeal for change - path breaking
-Acting responsibly in using God's bounties and abilities. - Produce what others find useful. - benefits all those they deal with. - Act responsibly towards those they included in the risks they took
: Take advantage of their innovative capacities to: - develop competitive advantage and create wealth & - create social divide.
Principle of Social Entrepreneurship
Positive social impact -
Social entrepreneurship respond to communities tat have been marginalized or excluded by existing market actors or non-market institutions.
Divergent Thinking -
Social entrepreneurship seeks innovation and imagines new and very different futures. it is aimed at creative destruction
Use of sustainable method
- Social entrepreneurship must includes a strategy for achieving financial sustainability such as earning income.
Adoptive scalable innovation
- a social entrepreneurs idea of an innovation is that it is adaptive and can be scaled up beyond any particular context.
Islam and the social Entrepreneur
They are not wasteful and are trustworthy
They practice high moral values and are concerned for the welfare of others.
Muslim entrepreneurs prioritize on worship to Allah and the halal concept.
they are knowledgeable and care for society and environment.
Sources of islamic financial support for entrepreneurs
Qard al Hassan
Exchange contracts: Murabahah, mu'awadat, ijarah
Partnership contracts: Mudarabah, musyarakah, Muzara'ah
Contribution of Social Entrepreneurs (SEs)
Promote ethical market
Advocates improved public services
Meeting social and environmental needs
Boost overall entrepreneurial involvement of the masses.
What are the Qualities of successful SEs
Make markets works
Advocate & serve
Common traits of successful Social Entrepreneurs
They excelled in extra-curricular activities
They are exposed to different
Social Entrepreneurs are highly educated
They have an intimate understanding of the problem
What is social impact
Social and environmental effect
Literacy and environmental health
Health and resource depletion
Conservation and waste
Energy use and climate change
Nutrition and poverty
Security and justice
Equality and livelihood
What is Virtuous Business
It combines creativity, community concern and practical realism backed by virtues
It hinges on the social domain
It is a spiritual act of doing business because:
it consolidate moral and spiritual dimensions and considers the people whom and for whom the work is being performed.
Creating and measuring social impact
How do i get there?
-Creating the impacts and linking actions to impacts
How do i know that i am already there?:
innovative service delivery, capacity building, research, advocacy and infrastructure.
What do i seek to redress?
: -Understand the issues, intervention options, target reciepients and investment options
How do i amplify the impact?:
By asking 'What if?" followed by if...... then.....?
What would i or others be interested to invest in?:
-Identify, process, financial and social impact.
Characteristic of Virtuous Business
The disposition to acknowledge gifts, it is a sign of humility and maturity
Arouses the sympathy and goodwill of others
Sincerity of intentions and a belief in the loyalty to God.
the ability to suffer in pursuit of some higher goals.