Social Entrepreneurship

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Description: The experience with social entrepreneurship is old-aged but the concept has assumed an emergent character owing to the manner it is expressed hence evoking special interest in research and academia. 1 The term “Social Entrepreneurship” is indeed broad and it resists any single widely accepted definition though its usage in business is common nowadays. 2 Out of the several definitions espoused by various theorists can be said that, it is “a process by which citizens build or transform institutions to advance solutions to social problems, such as poverty, illness, illiteracy, environmental destruction, human rights abuses and corruption, in order to make life better for many”.3 Again, the concept is a theme of different dialogues among researchers and it has stimulated business executives to the extent that it is a component of business school curricula in many universities across the world.4 Also, despite its growing significance, different scholars have assigned different propositions as to its nature from their different perspectives. Whereas some scholars largely associate it with the programs of non-governmental organizations others associate it with a company‟s social responsibility program. 5 For this reason, it is thinkable to see a connection between social entrepreneurship and social enterprise, two concepts which have an indistinct boundary where a social enterprise has a social mission backed by its financial sustainability and social entrepreneurship focusing on a clear innovation.6 Furthermore, in relation to non-governmental organizations, it is believed that the concept forces such organizations to adopt acceptable business management principles in rolling out their programs. Applying good business management principles could make these organizations remain effective in the markets they serve within the constraints of paucity of grants or donor 3 funding from the traditional sources, governmental or otherwise. 7 On the other hand, other theorists view the term, „social entrepreneurship‟ as an innovative methodology for dealing with obfuscated social issues; 8 yet still, others use the term to emphasize the attitude of a business executive who can take risks in creating social change regardless the obstructions. 9 Additionally, in order to provide some sanity in the numerous attempts to best describe or define the concept, it may be simply be viewed as, one dealing with organizations at the crossroads of non-profit and for-profit business enterprises. The main objective of the coinciding of social entrepreneurship and social enterprise is to diminish exposures and social inequities of vulnerable persons in society. Undeniably, the two concepts continue to be relevant and promotable as gaps remain in efforts of governments to amply supply social opportunities and ensuring useful link between acceptable business models and the necessity to satisfy of societal demands.

Author: Samuel Bаіmbіll-Johnson

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Samuel Bаіmbіll-Johnson
“I will be very grateful to all my family and friends for supporting my research”

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