Opinion

When you think of the term “social entrepreneur” in 2023, what’s the first thing that comes to mind? – St. Jude Children’s Research Hospital – ALSAC

Photo from St. Jude Research / LinkedIn

Sep 12, 2023, 00:40

When you think of the term “social entrepreneur” in 2023, what’s the first thing that comes to mind? – St. Jude Children’s Research Hospital – ALSAC

St. Jude Children’s Research Hospital – ALSAC, made the following post on LinkedIn:

“When you think of the term “social entrepreneur” in 2023, what’s the first thing that comes to mind?

We’ve compiled a shortlist of responses from some of our friends and families:

1. Influencer
2. Rich
3. Businessman
4. Social Media

The definition of “social entrepreneur” is a form of entrepreneurship where a company or organization is created in order to accomplish a much larger defined social goal.

The 2007 Stanford University case study Social Entrepreneurship: The Case for Definition by Roger L. Martin & Sally Osberg states that “social entrepreneurship is comprised of three components: “(1) identifying a stable but inherently unjust equilibrium that causes the exclusion, marginalization, or suffering of a segment of humanity that lacks the financial means or political clout to achieve any transformative benefit on its own; (2) identifying an opportunity in this unjust equilibrium, developing a social value proposition, and bringing to bear inspiration, creativity, direct action, courage, and fortitude, thereby challenging the stable state’s hegemony; and (3) forging a new, stable equilibrium that releases trapped potential or alleviates the suffering of the targeted group, and through imitation and the creation of a stable ecosystem around the new equilibrium ensuring a better future for the targeted group and even society at large.”

Decades ago, when our founder Danny Thomas was a young entertainer struggling to find work with a baby on the way, he made a promise that if he ever had the good fortune of fame and success, he would build a shrine to honor his blessings.

Danny Thomas kept that promise.

When St. Jude opened in 1962, childhood cancer was largely considered incurable. Since then, St. Jude has helped push the overall survival rate from 20% to more than 80%, and we won’t stop until no child dies from cancer.

Social entrepreneurship is a powerful thing.”

Source: St. Jude Children’s Research Hospital – ALSAC / LinkedIn