Page 11 - INNO4CHANGE_WP3_M2_Guiding session_EN

Key Competences of Social Entrepreneurs

Opportunity competence: the ability to identify and grasp opportunities to address pressing social

problems. E.g., Muhammad Yunus of the Grameen Bank recognised the opportunity to provide financial

services to the poor, particularly women, through microfinance. By offering small, unsecured loans,

Yunus has enabled millions of people to start businesses and escape poverty.

Social skills: social entrepreneurs need to effectively engage and network with stakeholders to maximise

their impact. E.g., Wendy Kopp of Teach For America has mobilised to recruit and train teachers to work in

underserved schools and address educational inequality with the support of educators, policymakers and

communities.

Entrepreneurial skills: running a social enterprise efficiently and effectively. Blake Mycoskie of TOMS

Shoes demonstrated strong entrepreneurial skills by implementing a one-to-one business model. For

every pair of shoes sold, TOMS donates a pair to a child in need, addressing both consumer needs and

social issues.

Sectoral expertise: social entrepreneurs often have deep knowledge and experience in specific sectors.

Jacqueline Novogratz of Acumen Fund focuses on impact investing in low-income communities, using her

sector expertise to create sustainable social impact.

Entrepreneurial self-efficacy: the belief in one's ability to create change. Salman Khan has

revolutionised education by providing free online resources through Khan Academy, enabling millions of

people around the world to access quality learning opportunities.