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The three impacts: social, economic and enviromental

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TRIPLE IMPACT ENTREPRENEURSHIP (and sustainable approach)

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TRIPLE IMPACT ENTREPRENEURSHIP (and sustainable approach)

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Triple Impact Entrepreneurship´s goal, besides creating a good business, is the one searching for a social-economic development and a environmental balance. It’s divided in three impacts:

Social impact, it consists of searching social targets, like creating a ethical and honest structure, having a good working environment, caring for the worker´s health, etc.

Economic impact, naturally, the business objective is about being profitable, but this impact consists mainly in caring about the future, so there must be a system with the capacity of doing it. Being efficient and effective.

Environmental impact, all businesses waste a lot of resources, getting informed about how to stop creating trash is not enough, learning about sustainable approach. But what is it? Well, it is about taking care of the environmental issues while the economic development is also getting attention, this tries to keep a balance for it to be significant.

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On the other hand, the social innovation is that SOLUTION that is far more effective than the current solutions, this one is promoted for it to be able to reach the communities in need, so that they can be capable of growing. The goal is to motivate the arise of new ideas for them to be implemented.

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The social entrepreneurship consists in creating or transforming institutions or systems for them to be capable of solving social problems, this with the aim of improving people´s lives. Some characteristics that stand out of this term are the constant seeking sustainable solutions to social problems, the active contribution to sustainable development goals, creation of alternatives to let the society be conscious about these problems.

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Both of them have the aim of improving people´s lives

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DIFFERENCE BETWEEN SOCIAL ENTREPRENEURSHIP AND SOCIAL INNOVATION

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DIFFERENCE BETWEEN SOCIAL ENTREPRENEURSHIP AND SOCIAL INNOVATION

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Now, the difference is that the social entrepreneurship is a process where the people create or transform institutions with the aim of improving people’s lives, while the social innovation is promoting those alternatives that are not being used for them to replace the current ones and seeking the arise of new ideas. Both with the idea of helping others.

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A change agent will be able to leave their path to motivate others for a change 

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The main idea in the change agency concept is "Everyone can be one".
According to Forbes (2016), there are three paradigms, the importance of the emphaty when we are talking about the capabilities of an entrepreneur, identificate as a change agent while motivating other people to develope their own habilities and promoting  team work.

A change agent must be capable of motivating others, having empathy, seeking for development on every aspect, never stop growing and helping others to grow, function as a leader, identity the matters that need to be solved and figure out the way to do it.

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Intrapreneurs must have ideas to innovate

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The intrapreneurs are people that seek for ways to innovate their roles, apart for improving constantly by hardworking attitude, their habilities cover quality of work and growth.

These characteristics let them be a great support for their company, this is because instead of focusing on the pressure of financial risks, they identify innovation oportunities for equaly professional and economic-social goals, which brings benefits to the company.

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Forbes México. (February 23, 2016). Todos podemos ser agentes de cambio. Forbes. Gained in January 27, 2023 from https://www.forbes.com.mx/todos-podemos-ser-agentes-de-cambio/

Stanford Center for Social Development. (No Year) What is intrapreneurship, and how can you cultivate it at your company? Stanfor Online. Gained in January 29, 2023 from https://online.stanford.edu/

UnLimited Spain. (September 1st, 2020). Empresas de triple impacto ¿Sabes en qué consisten y por qué son importantes? UnLimited Spain. Gained in January 27, 2023 from https://www.unltdspain.org/empresas-de-triple-impacto-sabes-en-que-consisten-y-por-que-son-importantes/