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Social Entrepreneurship, Quintessence to Overcome Corona Catastrophe

Social Entrepreneurship, Quintessence to Overcome Corona Catastrophe

Covid-19 pandemic outbreak is going to change the world, life and work, with short team and long term lasting effects to the entire human race, new challenges, threats and opportunities will be defining the future, how efficiently and competently we evolve from the coronavirus crisis. Nearly 580 million people (Approx. 8% of the World’s Population) could be pushed into poverty by corona virus economic crisis consequence. Business leadership, economic foresight and technological advancements will become the key to success but major role and credit of the triumph from catastrophe will be credited to the social entrepreneurship and social innovations which are innovatively implemented during this black swan event.

covid crisis, economy, corona virus, world, global, economic effects
IMF Projected Government Fiscal Balances Relative to GDP – Global Economic Effects

Political or Social incompetence or inability to think and implement out of the box may be the challenging barrier in overcoming the covid-19 crisis and the nations which achieve social innovation implementation in healthcare, technology, manufacturing and education sectors at national levels with the political willingness and social cooperation will be emerging as the winner from the covid-19 crisis. Social entrepreneurs are going to play a vital role in to our response to and recovery from the COVID-19 crisis. Social Entrepreneurs, Independent Social Workers and NGO’s collectively countering Corona Virus Crisis in front footing and acknowledging the issues faced by people with any possible help and creating an organized and collaborative model for them will be in itself solving a major portion of problem.

Collaboration Platforms, Breakthrough into Audio-Video Conferencing, Robotics, and artificial intelligence will be the future face of technology, but side by side the security and privacy will become the major threat and concern. In Future Economies will be more dependent on the productivity and competent implementation of combination of technology with business needs. Just existing will no longer be a success benchmark. Empowered and Technically competent Social Service Approach is also need of the hour. Awareness Programs could be conducted by Webinars with Registration and transcripts of Webinars the evaluation criteria of its effectiveness. Distribution of Food to Poor can be implemented with modern tracked, quality monitored approach.

The major role and responsibility of Social Entrepreneurs amidst Corona Virus Crisis will be to fix the gap of Government inefficiencies and serving skipped, ignored or missed segments. Even in country like India, the Social Entrepreneurs can effectively bridge the gap by involving and assimilating rural and economically weaker groups and empowering them by creating and implementing self-sustainable projects. But to make it happen and achieve the gains, equal opportunity for all irrespective of political, caste or religion based biased system needs to be implemented which is going to be a major challenge in India. Secondly, unlike in current scenario where NGO and Social Work is the most lucrative business in India, the policy revision is essential where the benchmarks will be qualitative and not quantitative. To clearly explain this in simple words, if a grant or fund is released for some social initiative, the effectiveness of the implementation must be not based on just quoting figures. So if a NGO is working on Education for Poor or underprivileged, the grant could be on basis of examination conducted by the Government or Organization where percentage of passing exam is not just the benchmark of literacy but also benchmark of effectiveness of education or social initiative system. Our systems are currently designed in a pattern with maximized possibility of corruption and ambiguities.

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