Social Entrepreneurship Youth Empowerment
A social enterprise defines an organization meant to addresses basic needs in a community through a business perception. This essay features a social enterprise “Your Dream, My Dream” (YDMD) set to address poverty in Vietnam among young people aged 18-24 years. The essay also presents an organization chart for the initial organization and after a year in operation, as well as a Likert survey to measure success or failure.
The enterprise “Your Dream My Dream” (YDMD) has its core mission as eradicating poverty among young people. Relevant skills are necessary for starting any business organization and people need to have them before implementing a business idea. Food is a necessity that people will always purchase and hence young people require skills in setting up related businesses. In this regard, the enterprise focuses on imparting restaurant and hotel management skills in young people to enable them to expand their perception of business opportunities. As a result, they will gain employment opportunities that will sustain their daily financial challenges.
The enterprise will require resources such as renting a space, materials, and intangible resources such as hiring experts who will be training them. In this regard, since the enterprise is at its initial stages, a commercial loan from the Vietnam Bank for Agriculture and Rural Development bank will be considered as the main source of income. The willing participants will also contribute some amounts to support the project. The enterprise will also pursue grants from government agencies such as the National Agency for Technology, Entrepreneurship, and Commercialization Development (NATECD) and The National Technology Innovation Fund (NATIF).
The enterprise will partner with “Family Restaurant” which is famous for its Vietnamese foods prepared by expert chefs. Such a partnership will enable the young participants to visit the restaurant and have a glimpse of how hotels and restaurants should be furnished and managed. Further, they will interact with the chefs and get some ideas on preparing food and how customers are served. The restaurant also offers a taste of Asian, European, and Australian dishes which is an added advantage to international business aspirants. YDMD will also allow the members to learn foreign languages such as English which is an opportunity for diversification such that they can work in various regions.
Generally, “Your Dream, My Dream” focuses on encouraging the young people in Vietnam to venture into a small business in the quest to address the high levels of poverty. The enterprise provides them the opportunity to learn hotel and restaurant management skills as well as foreign languages. The exposure involved will expand their business mindset and hence capture the idea.
Likert Survey
- What is the general perception of a social enterprise in the target community?
- Fair b) Good c) Excellent
- How do you rank the idea that learning a foreign language is a necessity in enabling young people to have a stable future?
- Fairly necessary b) Not necessary c) Highly necessary
- How would you rank the reliability of the sources of strategic resources?
- Reliable b) Unreliable c) Unpredictable
- How would you rank the fate of the hotel and restaurant business in Vietnam?
- Highly profitable b) Non-profitable c) Poor returns
- How would you predict the penetration possibility of your idea to the minds of your target population?
- Easily acceptable b) Not acceptable c) Low acceptability
- How would you rank your idea of starting the social enterprise’s ability to address the social problem facing your target community (poverty)?
- Disagree b) Agree c) Neutral
- How would you rate your budget for the 12 months?
- Easily Achievable b) Challenging