Social Entrepreneurship – Crafting New Business Model – Case study on Narayana Hrudayalaya and Gramin bank

Abstract

Social entrepreneurship has received considerable attention of government and researchers in recent times. Social entrepreneurship by its’ very nature is driven by a social cause. Though no entrepreneur can sustain without financial surplus, but this is the class of entrepreneurs who understand the difference between need and greed. They move ahead because of their clear vision and inspiring determination. They act as a catalyst to bring about a more than significant change to the society’s immediate need. Here we present two cases 1) Narayana Hrudavalay 2) Gramin bank Both the cases present for profit scheme but with priority on social wealth creation than economic wealth creation. Both of these social enterprises instead of competing with local government made them partners in their venture which took their business model to national and international level. Their human thought process and grit enabled
them to provide globally benchmarked services at lowest possible cost to people who till then did not have access to these services at all. A study of these cases would help develop insight into the emerging area and facilitate do further research into this pleasant arena.