Analysis of Social Entrepreneurship Essay Example
Poverty is a significant challenge in the society, and for this reason, many people search for ways of eliminating it. Some of these people are unable to remove it due to inadequate capital and other resources that would otherwise help them start businesses. They do not have their basic needs such as clothing, shelter, food, health or even better education hence the importance of coming up with relevant solutions. Based on Martin and Osberg (2007, p.29) social entrepreneurship (SE) is the process of using limited resources to engage needy people in the invented opportunities which help mold their lives as well as values in the process of risk taking in a conservative manner. The paper seeks to analyze social entrepreneurship based on its meaning, constituents, and functions related to society.
Social enterprise is a social activity because it involves the creation of social values that enhance the well-being of the community. It focuses on the realization of new and better methods of producing and maintaining of societal needs. Similarly, being a social activity, it considers the factor of social enterprise which means; giving benefits to the community from the revenue earned from projects of non-profiting organizations (Casson and Giusta 2007, p.238). The firms and credit ventures aid by coming up with people-oriented innovations which strengthen the poor by improving their living standards.
A developed commercial locality provides a proper and conducive environment that promotes the social enterprise. The difference between SE and businesses is with the main objectives in that; SE primary goal is enhancing social value whereas that of commercial enterprise is profit maximization. SE has an obligation to the communities’ needs, to provide training and employment to disadvantaged people, expand local markets, reduce the challenges of well-being and bring about social integration (Santos 2012, p.345). Therefore, a real social entrepreneur should be observant, innovative and risk tolerant enough to see and utilize open opportunities.
Casson, M. and Giusta, M.D., 2007. Entrepreneurship and social capital: Analysing the impact of social networks on entrepreneurial activity from a rational action perspective. International Small Business Journal, 25(3), pp.220-244.
Martin, R.L., and Osberg, S., 2007. Social entrepreneurship: The case for definition (Vol. 5, No. 2, pp. 28-39). Stanford: Stanford social innovation review.
Santos, F.M., 2012, a positive theory of social entrepreneurship. Journal of business ethics, 111(3), pp.335-351.
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