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Reflection paper about social entrepreneurship
Entrepreneurship as a means of social change
Social entrepreneurship essay
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Recommended: Reflection paper about social entrepreneurship
Introduction
Social Entrepreneurship for the 21st Century: Innovation Across the Non-profit, Private, and
Public Sectors is the first book written by Georgia Levenson Keohane. The book was published by McGraw Hill in December 2012. The formal study of Georgia Levenson Keohane began with Paul Kennedy, Allen Grossman, Jim Austin, and William Julius Wilson, and has continued with the field’s finest practitioners including Muhammad Yunus, Bill Drayton, Jose Velilla,
Jessica Sager, and Aaron Lieberman. She was able to have conversations with Alan Khazei, Matt
Klein, Tracy Palandijan, Audrey Choi, Kristin Morse, and Veronica White with how social entrepreneurship works among non-profit, private, and public sectors.
The Social Entrepreneurship Revolution
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High levels of earned income are often not innovative and may not be related with high levels of social impact.
The business orientation of a social entrepreneur is that it seeks to change the world’s big patterns for the good of all. It is associated with efficiency, dynamism, innovativeness, high performance and economic sustainability.
The social enterprise has been learning how systems change work together. The entrepreneurs now days face more complex and requires set of tools addressed for existing systems. A system changing is the proposal of new solutions to a current social challenge. An entrepreneur must have a deep understanding of the system they are trying to change or improve.
Early Social Entrepreneurship: The Service Organizations
The early social entrepreneurship was defined by Wendy Kopp, the founder of Teach for
America (TFA). It should be entrepreneurial, innovative and business friendly. Entrepreneurial in a way that services or goods should be able to reach in need communities. Innovative in which adjustments are made in the operations model to be able to adapt. Business friendly where in
The basic definition of social responsibility is that all companies should embrace more than just the focus of maximizing profits, and should have as part of their business model the goal to have a positive impact upon the society in which they operate. (Investopedia, 2014) Some businesses believe that social responsibility can only be applied to individuals and not to a corporation or business entity, and that the social responsibility of business is only to maximize the profits of the company for the shareholders of the organization. By maximizing the profits of a business, society as defined by these companies, is benefiting because the business is successful adding value to the entire society in which the company is operating.
Diffusion of Innovation (DOI) Theory has been used successfully in many fields including communication, agriculture, public health, criminal justice, social work, marketing, and nursing (Boston University of Public Health, 2013; Doyle, Garrett & Currie, 2013 ). There are five adopter categories: (1) innovators who want to be the first to try the innovation and counts for 2.5% of a specific population, (2) early Adopters who represent opinion leaders and counts for 13.5%, (3) early majority who are rarely leaders, but they do adopt new ideas before the average person and counts for 34%, (4) late majority who are skeptical of change, and will only adopt an innovation after it has been tried by the majority and counts for 34%, and (5) laggards who are bound by tradition and very conservative, and counts for 16%. The stages of innovation adoption include awareness of the need for an innovation, decision to adopt (or reject) the innovation, initial use of the innovation to test it, and continued use of the innovation. There are five main factors that influence adoption of an innovation: (1) advan...
The point is to apply these entire revolutionary, three elements must change in society: “the social structure, consumer behavior and cultural acceptance.”
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).
Our societies are facing extraordinary challenges: increasing inequality, rising poverty rates, unstable economies, climate change and a raft of other issues. Change is happening at an alarming speed and the social and environmental need is mounting to a petrifying crescendo (Innovation 2013). According to Mulgan (2006) the pace of social innovation is going to accelerate at an abnormal rate in the coming century. From my study in this course I have come to realise that a social innovation is a bold, new or improved solution, that fulfills an unmet need, changes current behaviors, co-creates value alongside community values and drivers for implementation and growth, and cuts across sectors. Social innovation may be carried out by individuals and business’s under a wide array of forms. For the purpose of this essay, I have chosen to compare and contrast two different organisational forms, Hybrids and cooperatives and evaluate their enabling and constraining impact on social innovation using well structured examples. Hybrid organizations make up the bulk of the public sphere in many Western European countries (kickert, 2001). We must be aware of a number of features that salamon laid out to look at the criterial for effective impact analysis too. Salamon suggests that impact analysis must be systematic, theory based, more than a c...
According to different scholars we can also define social enterprises as the idea of “seeking business solutions to social problems” (Thompson and Doherty 2006a, p. 362) or as the “use of business acumen to address social goals” (Crofts et al. 2003).
...nefits that SEs offer because the sector still lacks sufficient government and public awareness and support. The OSICP and SIF establish a framework for federal involvement in the social innovation process; however, they are merely a launching point for continued discussion. Countries like the UK provide an example of the positive impact that government support for SE can have in building the necessary bridges between business, nonprofits, and the government. As the government gains a better understanding of the capabilities and challenges associated with social innovation, it will be better positioned to establish the institutional structures and environmental conditions for SE to flourish. When supported appropriately, SEs can provide a self-sustaining, inclusive opportunity to strengthen the national economy while simultaneously serving a social need.
Social enterprise is an organization with a clear social mission that aim to financially self-sufficient. Most of its revenue come from the primary activity of trading goods or services. Social businesses should realize who their target market is, what goods or services they should trade, why it is important in the environment, and how their strategy can accomplish their objectives. Commercial approach is important for social businesses to meet their target market needs, also maximize profit for social returns.
It can be concluded that entrepreneurship cannot exist in the absence of innovation. Innovative entrepreneurship is the key to a successful business leading to economic development. Entrepreneurs are very prominent figures of society and therefore their actions and decisions have a significant impact on the welfare of stakeholder groups. Sustainability plays a vital role in this relationship in that it provides a solid foundation upon which a business can expand with more temerity and assuredness.
Social sustainability is “identifying and managing business impact, both positive and negative, on people.” The quality of a company’s relationships and engagement will directly or indirectly “affect what happens to employees, workers in the value chain, customers and local communities” (Wynhoven). This definition focuses on the importance of sustainable relationships. It focuses on the social aspect, which can be good helping to determine what social sustainability looks like. The UN definition makes it clear that it is important to manage the corporation’s impact proactively so that employees, customers, and local communities all benefit from a corporation’s presence. BMW is an excellent example of a corporation that focuses on social sustainability. BMW promotes exchange between refugees, local youth, and BMW employees through a neighborhood project called “Lifetalk” which aims “to give young people a better idea of possible career paths” (BMW). These actions come from the company’s beliefs and goals. BMW states that “taking social and environmental responsibility for everything we do is an integral part of how we perceive ourselves as a company. We are convinced that the lasting economic success of any enterprise these days is based increasingly on acting responsibly and ensuring social acceptance” (BMW). BMW believes that sustainability is an
Social entrepreneurs tend to have a clear picture of their social mission, usually through the discernment of the social needs and how to improve the depressing status of the social needs (Dees and Muller, 2008). Social entrepreneurs transcends charitable giving’s and philanthropy to achieve their social mission and usually they focus on the challenges causing the social problems rather than just identifying and alleviating the symptoms (Nga and Shamuganathan, 2010).
Fostering an innovating society will require a shift in mind sets that are commonly held across society, and social entrepreneurs will play a key role in helping enact these shifts. Members of society hold many pre-existing beliefs, and follow established patterns of behavior that are no longer suitable to today’s global society and that hinder advancement of certain groups based on their perceived deficits (e.g. the poor, the disabled). Social entrepreneurs shift mind sets by helping society to see trapped potential, and to appreciate the interconnectedness of our world. Similarly, social entrepreneurs help shift society’s viewpoint from "me‖ to us” and eventually to all of us. Building a stronger sense of connection builds empathy, and with empathy comes a stronger base for structural changes. Social entrepreneurs can also shift mind sets about what can be done on an individual basis. In so doing, social entrepreneurs expose how we systematically undervalue people with perceived deficits and simultaneously show how to bring out 17 group’s agency for change. Most importantly, social entrepreneurs can convince society that today’s toughest problems are
Though there exists some different prospective and understanding in academia and among practitioners. An organized effort to assemble resources that increases the capacity of the people living in particular community and ultimately improves their quality of life is refers as community development (Green and Haines 2012, 9).Among many, Phillips and Pittman explains two schools of thoughts interpreting community development, where most practitioners consider community development to be an ‘output’ as physical, social, economic enhancement of community on the contrary, most academicians views community development as a ‘process’ of community’s skill to work cooperatively together and uplift the capacity to do so (Phillips and Pittman 2009, 3). The understanding of community development differs as community we live in changes in course of time. The dynamic society and context we live in, defines community needs and they differ from place to place, from village to town, from rural to urban, mountain to deserts. The role of the community development is to support people and community groups to identify and articulate their needs and to take practical, collective action to address them…It works with communities of place, interest and identity, helping diverse and competing community voice to be hears. By addressing issues of power, inequality and social justice, it aims to bring about
Innovates by finding a new product, a new service, or a new approach to a social problem.
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.