A philosophy based on the belief that a more complex form of capitalism is emerging that holds the potential for enhancing corporate performance while simultaneously to continue to advance the quality of life for billions of people.
Individuals and organizations who recognize a social problem and use entrepreneurial principles to organize, create, and manage a venture to make social change. Whereas a business entrepreneur typically measures performance in profit and return, a Conscious Entrepreneur assesses success in terms of the impact on society as well as in profit and return. Conscious Entrepreneurs use business models that combine a revenue-generating business with a social-value-generating structure or component.
Conscious entrepreneurs engage in a new way of doing business that is good for people, profits and the planet. They operate from a place of integrity incorporating higher levels of consciousness or awareness in the way they conduct their business and life.
Corporate Social Responsibility(CSR)
CSR is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large”. CSR is one of the newest management strategies where companies try to create a positive impact on society while doing business. (Wikipedia)
A lifestyle entrepreneur places passion before profit when launching a business in order to combine personal interests and talent with the ability to earn a living. Many entrepreneurs may be primarily motivated by the intention to make their business profitable in order to sell to shareholders.In contrast, a lifestyle entrepreneur intentionally chooses a business model intended to develop and grow their business in order to make a long-term, sustainable and viable living working in a field where they have a particular interest, passion, talent, knowledge or high degree of expertise. (Wikipedia)
Mission Driven Business
A “mission driven” business is one where there is a clear, identified mission that motivates employees and is key in all major decisions. Nonprofit organizations are all mission-driven, but there are many other businesses that consider mission and purpose to be more important than profit.
Positive Social Impact
The pursuit or achievement of consistent improvements in the lives of groups of people; the ability of an organization (individual) to successfully fulfill its goals and objectives that benefits the community.
Right livelihood embodies the principle that each person should follow an honest occupation which fully respects other people and the natural world. It means being responsible for the consequences of our actions and taking only a fair share of the earth’s resources.
Social business is a subset of social enterprise, with the specific characteristic that, whereas a social enterprise can be funded by philanthropy or government grant, a true social business should be self-sufficient. (Wikipedia)
An organization that applies business strategies to achieving philanthropic goals. Social enterprises can be structured as a for-profit or non-profit.
Social entrepreneurship is a process by which citizens build or transform institutions to advance solutions to social problems, such as poverty, illness, illiteracy, environmental destruction, human rights abuses and corruption, in order to make life better for many. (From Social Entrepreneurship: What Everyone Needs to Know, by David Bornstein).
A socially responsible person, organization or entity acts to positively impact society. Being sensitive to the things around them and performing ethically is what a socially responsible body does. This ideology applies not only in business and economy but to all.