Meaning that social impact is prioritised over profit. There’s still no constraint on making profit, and there is the same potential to be financially successful.
Many, if not most, businesses aim to make profit regardless of their social impacts — they’ve probably never even thought about what they are. It’s easy to say that employing people and giving them a salary is the most useful social impact a business can (or should) have, but when you factor in negative externalities that may not be true.
A social entrepreneur actively aims to make a positive social impact. It’s not about it being a weak business or a charity.
Many, if not most, businesses aim to make profit regardless of their social impacts — they’ve probably never even thought about what they are. It’s easy to say that employing people and giving them a salary is the most useful social impact a business can (or should) have, but when you factor in negative externalities that may not be true.
A social entrepreneur actively aims to make a positive social impact. It’s not about it being a weak business or a charity.