30.2 Positive Impact on Society

Social entrepreneurship addresses societal challenges and contributes to the public good through businesses known as social enterprises. A social enterprise is a company that prioritizes positive social or environmental outcomes alongside financial performance.

By combining business principles with a mission to solve social and environmental problems, social entrepreneurs create sustainable solutions that have a lasting positive impact on communities.

One prominent example is TOMS Shoes, founded by Blake Mycoskie. TOMS original operated on a “buy one, give one” model, where for every pair of shoes sold, another pair was donated to a child in need. This model provided millions of shoes to children in impoverished areas and also raised awareness about global poverty and inspired other companies to adopt similar business practices.

Reference

Gordon, Michael. 2019. Becoming a Social Entrepreneur: Starting Out, Scaling Up and Staying True. Routledge.