Social entrepreneurship as a phenomenon has gained increasing attention from mass media and the commercial and academic worlds over the last couple of decades, according to Nicholls (2008). However, it still lacks a universal compilation of current thinking on the topic (Nicholls, 2008). Indeed, Mair and Marti (2006), for example, identify the need for more empirical studies exploring opportunities for social entrepreneurs and how these opportunities affect the entrepreneurial process. Nicholls (2008) suggests that more studies that look into policy, praxis and other academic research in social entrepreneurship are needed. The definition of social entrepreneurship lacks clarity and is often challenged (Nicholls, 2008). This is mainly because …show more content…
Although conventional entrepreneurship opportunities also derive from various shortages or inefficiencies, they have significant differences. Social entrepreneurship’s main goal is to create social change and unlike traditional entrepreneurship, it does not focus on maximising stakeholder economic value (Murphy and Coombes, 2009). Essentially, according to Murphy and Coombes (2009), social enterprises use different kinds of resources (economic, social and environmental) to achieve their mission.
The difference between business sector entrepreneurship and social entrepreneurship is not the for-profit or not-for-profit orientation, but rather in the priority that is given to creating social wealth in social entrepreneurship as opposed to economic wealth in business sector, where social value is just a by-product (Mair and Marti, 2006). In other words, economic and social aspects are both embedded in the “value creation” in social enterprises: the main focus is given to social value while the necessary economic value ensures financial viability (Mair and Marti,
Social responsibility can be defined as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.
To supply the wants and needs of a consumer, society entrusts wealth-producing resources to the business enterprise.” (Santayana, George. Is The Tyranny Of Shareholder Value Finally Ending? So before we go into greater detail on the different perspectives related to social responsibility, one might question the meaning of social responsibility. It is generally agreed that social responsibility is defined as the business obligation to make decisions that benefit society.... ...
In the present market economy, social innovation should not replace Corporate Social Responsibility (CSR) but should enhance it. Some scholars have shown that whereas innovation has been an integral part of a company’s survival it was not part of CSR (Carroll and Shabana, 2010). In the past, CSR was applied in areas of citizenship duties and operation licences; however, this is not sufficient in the modern complex business environment (Googins, 2013).
They are giving ideas on how social entrepreneurs can be different from businessmen. Social entrepreneurs are focusing on solving social problems in the world. Social entrepreneurs can also be called humanitarians because they envision a better world for the people in need and they promote human welfare. They feel empathy towards the people who need help and they would just want to help them make their live better. Establishing a social enterprise does not always mean that the organization would already go international just because the entrepreneur wants to have a better world. The enterprise does not need to be globalized immediately. Daniel Lavin developed five keys to determine if the products of the enterprise are being benefitted locally. The keys are: (1) Local shows if the materials to be used in making the products could easily be seen in the community itself and if the methods to be used can be easily done by the people. (2) Ownership having irresponsible management and ownership can result to failure in practicality, profitability and accountability. (3) Repeatability is important because the partner community should be able to do the products themselves repeatedly having the constant quality of the products. If the enterprise would be successful, the other communities should not be able to duplicate the (4) Profitability should be sustained even if the investors
Porter along with Mark Kramer. In this article, the authors emphasize on the importance of creating shared value on the strategic level of an organization vs corporate social responsibility which is viewed a separate moral obligation for the sake of company’s reputation and making profits. According to the authors, shared value must be embedded into the core value and strategy of business. What the authors of the article are implying is that awareness of social economic challenges is growing making them clearly visible. Businesses and their legitimacy are now viewed as part of the problem. CSR is considered as a scheme to make money and an area which is separate from its core business. Economists believe we should raise the bar and embed the concept of creating shared value on the core strategies of business. CSR activities are externally determined whereas, Creating Shared Value (CSV) activities are more company specific therefore understanding and legitimacy of value chain is needed for sustainability, for example the products and customers being served. CSR activities are limited to CSR budget whereas Creating Shared Value is mobilizing the entire budget of corporation to impact social issues. Creating Shared Value is a genuine way to restore the legitimacy of corporations as results are measured not just by profitability but by the social and economic value created. Companies who
Government support for social economy entities is recognized in European Union, Brazil and Argentina. While in countries of Africa and Asia support is built by the citizens forums and networks on sustainable development and by United Nations agencies. Among policy themes on social enterprises are: improving access to financial resources; research for increasing understanding and visibility; capacity building; ac¬cess to public procurement.
Drawing on your knowledge of social innovation and organizational form, compare and contrast two organizational forms (e.g association and social movement; company limited by guarantee and coop; hybrid and some ‘pure’ form. Critically evaluate them with regard to their enabling or constraining impact on social innovation. Draw liberally on the relevant literature and illustrate with examples.
Reed, B. (2011). The Business of Social Responsibility. Retrieved from Dollars and Sense Real World Economics: http://www.dollarsandsense.org/archives/1998/0598reed.html
The emerging field of social entrepreneurship calls for a need for new integrated theories to contribute to the discipline and help grow the field. Social Entrepreneurship has been a topic of academic interest for the past few decades; however there has been little scholarly output in mainstream journals (Short, Moss, & Lumpkin 2009).Social entrepreneurship is commonly defined as “entrepreneurial activity with an embedded social purpose” (Austin et al. 2006). Social entrepreneurs play a role of change agents in society by adopting missions to create and sustain social value. They recognize and pursue new opportunities to serve the particular mission at hand. Social entrepreneurs engage in a process of continuous innovation, adaption and learning. With these components, social entrepreneurs are able to act without being limited by current resources. They are accountable to the constituencies served and for outcomes created as a result of their actions (Dees, 1998).
As I already mentioned before, I am a student of an international business school in the US, and my major is Social Entrepreneurship. When I worked as a salesman in the company, I always felt that I could not show my talent and ability in the position as a salesman. When I made a conversation with co-workers, accounts and customers, someone loved me and other one did not love me. When I met someone who did not love me, I felt that I did not have enough ability as a salesman. Of course, I believed that I showed my excellent ability and accomplishment compared to other co-workers as a salesman. However, what I wanted to make was the best career, not better career.
Entrepreneurship for social change: Is the U.S. doing enough to encourage and support sustainable social innovation?
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
Social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems. Rather than leaving societal needs to the government or business sectors, social entrepreneurs find what is not working and solve the problem by changing the system, spreading the solution, and persuading entire societies to move in different directions. ust as entrepreneurs change the face of business, social entrepreneurs act as the change agents for society, seizing opportunities others miss to improve systems, invent new approaches, and create solutions to change society for the better. While a business entrepreneur might create entirely new industries, a social entrepreneur develops innovative solutions to social problems and then implements them on a large scale.
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.
“Jean Baptiste Say” is a French economist who defined about entrepreneur as a person who undertakes an idea and transfer or carry or move perspectives in a way that make changes the effect that an idea has in society. An entrepreneur is further defined by Say as someone who "shifts economic resources out of an area of lower and into an area of higher productivity and greater field. The difference between "social entrepreneurship" and "entrepreneurship", is comes from the purpose of a creation or innovation. Social entrepreneurs seek to transform large number of societies from, rather than transforming their margin of profit they get, as classic entrepreneurs typically seek to do. Social entrepreneurs has variety of resources to use which can bring societies into a well-being or a better