Social entrepreneurship is the attraction of growing attention, money, and talents by entrepreneurs and companies. As the major focus, it aims at developing, funding, and implementing solutions for environmental, cultural, and social issues (Chell, Spence, Perrini, & Harris, 2016). Entrepreneurs engaging in social entrepreneurship have their basic levels of operating as a social cause. The success of social ventures is measured based on the improvements realized in the world rather than profits accumulated. Such organizations attain a successful change in underlying issues in the community through feedback and innovations towards solving the social problem.
Nancy R. Lee, Michael L. Rothschild, and Bill Smith (2011) in a declaration of social marketing’s unique principles and distinctions defined, “Social Marketing is a process that uses marketing principles and techniques to influence target audience behaviors that will benefit society as well as the individual. This strategically oriented discipline relies on creating, communicating, delivering and exchanging offerings that have positive value for individuals, clients, partners, and society at large”. Lazer and Kelly, (1973) defined the discipline as, “Social Marketing is concerned with the application of marketing knowledge, concepts, techniques to enhance social as well as economic ends. It is also concerned with analysis of the social consequence of marketing policies, decisions and
When communities and governments see the value and legitimacy of the social work profession, an increase in resources will be allocated to these services. Social work theories and ethical codes are concepts which are interrelated with societal values and norms and adapt based on increased understanding of certain problems. Both theories and ethical codes serve cognitive functions, to support social workers understanding of complex issues as well as social functions, which focus on the legitimacy of social work as a profession (Healy, 2014; Banks, 2003).
Source: Author 6.0 Social Capital in Economic Development We shall now see how social capital affects local economic development. For examining this relationship, we need to consider both micro and macro forces. 6.01 Micro factors – are those special ties and networks among residents and it is useful in differentiating between intra community ties (integration) and extra community ties (autonomy). Both types of social capital may improve the prospects for local economic development. Intra community ties are beneficial because they allow individuals to draw on the social resources in their community and increase the likelihood that the community will be able to address adequately, the collective concerns in their community.
The policies laid down are backed by the country's constitution. Good economic institutions- are those with policies/ rules that are enacted with the aim of reducing poverty and enhancing economic development. The growth process begins when reforms and policies that are made and agreed upon, and they open new opportunities for profitable investments, thus creating favorable conditions for investment and innovation.
A hybrid LCA is integrated process-based and IO LCA, to balance between time and costs efficiency. Based on the hybrid LCA models, the upstream impacts of goods could be included with economy-wide scope, and impacts in the production, usage and end-of-life phases could be specifically analyzed (Bilec et al., 2010). The social impacts are effects on the sustainable operation of society such as employment, salaries, and occupational safety. A social LCA is a social impact (and potential impact) assessment technique that aims to evaluate the social and socio-economic aspects of products and their potential positive and negative impacts during their life cycle including: extraction and processing of raw materials, manufacturing, distribution, use, re-use, maintenance, recycling, and final disposal (UNEP, 2009). Comparison between the environmental LCA and social LCA, the social LCA in research scope and framework has not been fully formed and needs further development.
Second, since social problems have socioeconomic causes as well, social marketing campaigns are aimed at policymakers who have the power to make policy changes that would enhance the chances of success of social marketing campaigns. This means that the target group is treated as an active audience whose members participate in the process of social change. Social marketing has been criticized for fostering a consumer approach to social change, with its underlying capitalist premise. Still, social marketing has become a preferred approach to creating and sustaining positive social
Consideration of the CSR strategy in evaluating how the company’s innovative technology can result in an increase of its products and the reduction of its damage to its environment as well as the costs. 3. Investigating the manner in which the organization achieves a competitive advantage for its business while using the CSR. 4. Investigating to find out how the company deals with the social responsibilities.
Entrepreneurial education is considered central to the economic development of nations (Kabongo & Okpara, 2010). Entrepreneurship education has to increase entrepreneurial self-efficacy, self-employment, and risk-taking attitude of the entrepreneur (Cheng & Chan, 2009). Entrepreneurship education creates enormous business opportunities and trains people with innovative enterprise skills to grasp the opportunities for starting new entrepreneurial activities (Cheng & Chan, 2009). Entrepreneurship education is one way of addressing poverty reduction, as there is strong empirical evidence suggesting that economic growth over time is necessary for poverty reduction. Entrepreneurship boosts economic growth, enhances educational attainment and increases the rate of economic growth (Mitra & Abubakar, 2011).