Social Entreprenuership :Critical for development

n a country like India that is straining at the leash to join the list of the leading economic powers by embracing liberalization and globalization, the role of social entrepreneurship is critical if not absolutely essential to ensure that the fruits of development are not bagged by only the affluent sections of society. While the downfall of socialist countries has fuelled the belief that the only way to forge a path of development and economic prosperity is to support entrepreneurial vision and energy, it becomes as imperative to support this zeal with a strong social commitment. So that we ensure that the poor don't get poorer and enmeshed in a vicious cycle of want and deprivation.

It is likely that if asked about their role in bringing about social change, many entrepreneurs are likely to respond at least in private by saying they pay their taxes and expect the government to look after the welfare of the have nots. Even when a term like "Corporate Social Responsibility" is bandied about, what is usually experienced is that such initiatives only serve to further the business interests of the enterprise rather than focusing on any kind of enduring social change. A large steel or gas plant may showcase its developmental initiatives in the communities that live in and around its manufacturing facilities, but it also derives the workforce to man its operations from the same set of people. At best we can grace this phenomenon as a quid pro quo gesture. On a recent visit to Pittsburgh my hosts told me about ghost communities that sprang up in the city because of many of the steel plants closing down in the seventies as it was cheaper to outsource manufacturing to developing economies. India is likely to follow the same pattern despite all the lip service that goes in the name of social responsibility by manufacturing organizations.