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Richard Branson: Business + Solving Problems + Innovation = Entrepreneurship..!

Richard Branson on a recent post effectively  reveals the real meaning of entrepreneurship: It is not just about selling products, but it is about solving peoples’ problems:

Richard Branson on Social Entrepreneurship | NEOMUJER

Entrepreneurship isn’t about selling things — it’s about finding innovative ways to improve people’s lives. Until recently, most people in business focused on products and services that would appeal to consumers, and this resulted in the creation of many great companies and a lot of jobs. But attitudes are changing. A new generation of entrepreneurs is using approaches from the commercial world and employing technology to tackle social and environmental problems — these areas used to be the exclusive territory of government agencies and charitable organizations. The British Cabinet Office says that there are 70,000 social enterprises helping people, communities and the environment in this country alone. These businesses and organizations contributed more than 54.9 billion pounds to the economy in 2012 and they employ almost 1 million people, yet we have only scratched the surface. No matter what the structure of the company — whether it is for-profit, nonprofit or a creative melding of the two — entrepreneurial solutions are offering engagement, jobs and hope in areas where we had none. The example set by Econet Wireless, which is led by Strive Masiyiwa, is one of my favorites. A couple of years ago, Econet, a telecom company based in South Africa, started to develop and distribute solar charging stations in the region, providing power for cellphones, lights and other devices. These stations are helping to transform the lives of people living in rural areas where the supply of electricity is erratic.

Richard Branson Social Entrepreneurship 1

It is important to be mentioned that Richard Branson also pays emphasis on the fact that global business leaders can maintain profitability and at the same time can bring positive global challenges in international commerce:

Richard Branson: business can be a force for good (Wired UK)

The world’s business leaders can make positive global changes while still remaining profitable, Richard Branson said at the G8 Innovation Conference. Speaking shortly after the announcement of the launch of the B Team, a global non-profit founded by Branson and director of Kering, Jochen Zeitz, the Virgin Group founder referenced work he is doing in the sustainability and space sector that is both good business, and good practice. ”I’ve been in business for 45 years and as a businessman I travel the world and see issues that are to me glaringly obvious and important you speak out about,” he said. “Businesses can be a force for good and shouldn’t think of themselves as just worrying about the bottom line profit. If we get every business leader in the world to adopt a problem or two, with help from the government we can get on top of most problems in the world.”

Innovative entrepreneurs have to solve problems in health, education, climate change and social care by taking advantage of creative ideas:

Social entrepreneurs — everyday heroes | Columnists | BDlive

Business and government must encourage established entrepreneurs and young talent to focus on problem areas like health, education, climate change and social care. How can we speed up this process and make even more of an impact? There seem to be three key obstacles facing entrepreneurs who want to get social enterprises off the ground. Entrepreneurs often struggle to raise seed money for such ventures, as it is far tougher to get funding for social enterprises than commercial counterparts, despite the fact that the financial returns can be just as big. If a start up team is proposing to launch a social enterprise with the potential to radically change the U.K.’s 87 billion pounds social care sector, they deserve a serious listen from people who can provide substantial funding, not just a little grant money. We need to encourage more initiatives and competitions such as Google’s Global Impact Challenge, which set out to find four nonprofits in the U.K. that would be awarded 500,000 pounds each to help them tackle some of the world’s toughest problems through technology. The quality of the entrants was amazing, and the winners ranged from CDI Apps for Good, which teaches children how to code, to the Zoological Society of London, which uses tracking devices to monitor and protect endangered wildlife.

Finally, it is becoming important to have innovative entrepreneurs and not just businessmen who are selling products. Global economy today needs people who want to produce and offer. Richard Branson is here…


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