Therefore, more work is needed in educating the public and government in understanding the proper administration of a social enterprise (ibid.).
We need to consider theories on social entrepreneurship before we link our blueprint to them. One theory known as the triple bottom line (3Ps-People, Planet and Profit) which measures corporate social entrepreneurship of organizations such as charity foundations and apply corporate finance and economic calculations to measure the efficiency of social organizations. The modern perspective of social entrepreneurship is slightly altered in U.S.. There is also the model provided by the William and Melinda Gates Foundation operate where money no longer goes to governments and the ministries who determine how the charitable institutions will decide on how to spend the money. Unfortunately, many governments waste a lot of charity money on other projects. For this reason, Gates applied a social entrepreneurship model about money and helping the poor where he his foundation did not give the money to governments, but to create a programs to administer the projects (ibid).
Our Approach
For this reason, we have targeted retired professionals to teach the younger generation. This blends in more with the idea of the Singapore concept of charity, which is based not on profit, but on altruism. When donors see the older generation teaching the younger people (and that they are enthusiastic), the donors will be more likely to contribute / as stated in a CNN report, the idea of social entrepreneurship among Singapore students is much more positive. They can link money with making a profit in an organization that is a hybrid of a corporation and a charity (Tee 2010). In addition, we put the money to administer the programs in the hands of the administrator educators (in this case, the retired teachers and professionals) and their students to organize social entrepreneurial organizations...
This starts with the customer group laid out as we showed above with its distribution of funds to colleges and the retired educators who staff the projects. From this, the students are walked through the business process, including selling the project products and services, realizing customer benefits, factoring in costs, losses, profits, projected growths and developing the financial picture. Then, they know what financial resources that can be put purely into dispersal of charity money and spinning off these funds to bring about similar organizations, plans and services on other campuses to grow the market idea and style of organization. Besides organization building, this has a dual purpose of educating the Singapore public (particularly contributors) as to our market oriented model using innovative methods and resources such as social media and modern corporate operating methods. Additionally, by doing this successfully on campuses, we educate and recruit future social entrepreneurs and contributors who will prefer this model in the future due to its success in the present. This is the goal of our three-year plan.
References
Hian, L.. (2007). Our charity sector: Uniquely Singapore -- F1 or F9?. Available:
http://theonlinecitizen.com/2007/06/uniquely-singapore-f1-or-f9-our-charity-sector/. Last
accessed 13 February 2012.
Leong, B.. (2006). Can Social Entrepreneurship take off in Singapore?. Available:
http://sgentrepreneurs.com/social-entrepreneurship-sustainable-development/2006/07/10/can-social-entrepreneurship-take-off-in-singapore/. Last accessed 13 February 2012.,
Tee, E.. (2010). The young do-gooders who profit from their ethics. Available:
http://www.cnngo.com/singapore/shop/singapores-student-social-entrepreneurs-347424. Last
accessed 13 Dec 2012.
