Social entrepreneurship is the new buzz in the business scenario today, directed towards a meaningful sustainable development of the society. Doing business for a social cause is the other form of social entrepreneurship. Muhammad Yunus of Bangladesh, who received the Nobel Peace Award, 2006, for his pioneering work in microfinance and bringing about a revolutinary transformation in the lives of the underprivileged section of the world, has definitely turned the attention of the world towards the need for social entrepreneurship. He has taught the world the true meaning of business ethics and social contribution of business, for an overall healthy development of the society.

Social entrepreneurship is the name given to the venture of those individuals who use their entrepreneurial spirit to transform the society for the better. "Social entrepreneurs are the extraordinary individuals with unprecedented ideas for change in their communities. They are not content with just giving a fish (to the needy) or teaching (them) how to fish. They will not rest until they have revolutionized the fishing industry," says Bill Drayton, the founder of Ashoka Foundation. Business can be superficially classified into two—firstly, to earn money and secondly, to transform the society. Social entrepreneurs fall in the second category. They undertake business endeavors and also adopt innovative methods to enable the society overcome its existing problems. It is answering a social cause, not just the immediate issue but striking the rootcause of the social problem. Obviously, `social entrepreneurship' draws its insights from the term `business entrepreneurs'. While business entrepreneurs identify the need of the society and venture into addressing that need with an intention to earn profits social entrepreneurs do business with a human touch. It has a dual bottom line—profit and social impact. Muhammad Yunus, the pioneer of microfinance, says, "Making profit will not disqualify an enterprise from being a social business enterprise. The basic deciding factor for this will be whether the social goal remains the enterprise's over-arching goal." Muhammad Yunus created a social revolution by offering micro-loans to poor rural Bangladeshi women, thus giving them socioeconomic empowerment. Yunus's Grameen Bank has been a path breaker in `Social Banking', today. `Financial Inclusion' of the downtrodden, by offering them cheap credit is a social motto and also a corporate responsibility of banking institutions today. Now all corporate houses earmark a part of their funds for socially viable contributions. That is nothing but a sincere attempt to reinvest profits to address some social cause. Their goal in carrying out business is to contribute to the sustainable development of the society. The conventional kind of business certainly develops the society but also widens the gap between economic development and social development. Social entrepreneurs assess their success in terms of their impact on society and solve daunting social problems. They mostly work through NGOs and citizen groups, but today even big corporate houses are also involved.

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