Expert Journal of Business and Management (Jul 2019)
Social Entrepreneurship: Objectives, Innovation, Implementation and Impact on Entrepreneurship
Abstract
The study examines social entrepreneurship from the perspective of: objective and philosophy (why social entrepreneurs are social entrepreneurs), opportunity identification (how social entrepreneurs recognise opportunities), implementation (how social entrepreneurship is implemented), and social entrepreneurship’s contribution to entrepreneurship. The dual objective (some profit, social impact), and strong focus on social impact of the social entrepreneur are highlighted. Although certainly possible, opportunities are encountered and experienced, and thus recognised, rather than actively sought. There are both strong similarities and differences between social entrepreneurship and entrepreneurship opportunities. Innovation is as much a component of social entrepreneurship. Also, the proactiveness and innovativeness of social entrepreneurship are important aspects and concepts. Social entrepreneurship can also be radical and disruptive. Implementation of social entrepreneurship entails both the micro- and macro-level. Both the individual implementation of social entrepreneurship, and the overall extent and sophistication of social entrepreneurship opportunities and practice at a broader level, are relevant. Sustainability is a very important consideration for the social entrepreneur. Emphasis has shifted to self-sufficiency and financial sustainability. There are marked similarities between start-up for the social entrepreneur, and the entrepreneur, particularly given that social enterprises are run as businesses just as much. The various contributions of social entrepreneurship to entrepreneurship are highlighted. It is evident that social entrepreneurship and entrepreneurship can be compared on several grounds, including the level of risk and the level of difficulty.
