To build an effective management team, social entrepreneurs need to recruit, develop and retain the right people. According to the book, many social enterprises have a low professionalism level when it comes to their human resource management. However, this is important because employees are the social enterprise’s greatest assets. They are the ones who will make the company grow. Social entrepreneurs have a hard time filling their top positions because they rely on their own existing resources and do not invest in time to look for a more deserving candidate.
The first chapter in this book entitled Social Entrepreneurship discusses about the areas that have already been discussed in the field of social entrepreneurship and provides recommendation for future research and new theoretical directions. First, they defined what social entrepreneurship is and thus paving way to the proposal of three avenues for future research and these are the comparative, corporate and collaborative avenues. The first chapter of this book greatly covers what has already been discussed in other books and other research materials and thus creating new ideas for future topic or areas to discuss on the future books that will be published. Having this kind of strategy/agenda makes this book exceptional because their objective is to create a book that has contents that are entirely new, and has fresh and updated analysis and research on social entrepreneurship. Also, with this kind of agenda, this will be able to create an opportunity to discover new information on the said area and avoid discussing topics that has already been elaborated in other books repeatedly.
Social Entrepreneurship is commonly defined as an entrepreneurial activity with an embedded social purpose. It has become a global phenomenon, addressing the basic needs of the human society which are neglected in the race for development in the mainstream. Some of the striking examples of social entrepreneurship have originated in developing countries. Microfinance of Bangladesh is a powerful example which has been accepted and adopted globally. Social entrepreneurship is vibrant in developed countries as well.
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.
Alvord, Brown and Letts (2004) contend that many social issues can be addressed through the implementation of social entrepreneurship projects and programmes. They further argue that these programmes create innovative solutions to social problems and mobilise ideas, capacities and resources required for successful social transformation. In supporting the emergence and importance of social entrepreneurship programmes, Williams and K’nife (2012) opine that social enterprise delivers social services to transform lives through the creation of social value. Similar views are expressed by Mair and Marti (2004) and Steyaert and Hjorth (2006) who propound that social entrepreneurship projects can lead to significant socio-economic change in the communities in which they are implemented. This is in line with the position taken by Ashoka (2014) that social entrepreneurs are changing the face of business worldwide through the development of social industries.
Social entrepreneurship is an organization because it takes careful planning, organizing, and forming a group’s identity. Lastly, social entrepreneurship is a society because entrepreneurs look to help a society in an area. Also in the first chapter, there are many stories that the authors used as an example to motivate us readers. Social Entrepreneur for Dummies tackles all the requirements in putting up a social business. It is a step by step process that the book thoroughly explains, everything from if social entrepreneurship is calling for you to planning, strategizing, organizing, and implementing to creating one’s own brand to how to manage a social business to the mistakes one social entrepreneur should avoid when starting a social business.
You will also learn how entrepreneurs act as an innovator in the economic growth and help in the generation of employment opportunities, in complementing and supplementing economic growth. 5.1.2 Role of an Entrepreneur in Economic Development of Country Entrepreneurships are one of the most important inputs in the economic development of a country. By his entrepreneurial decisions, the entrepreneur acts as a spark to the engine of economic activity in a country. He plays a key role in the development of industrial sector of a country. He also plays an essential role in the development of agriculture and services sector.
Thus independent social entrepreneurs have an important complementary role to undertake flexible and continuous innovations, experimentations and dealing with various current or future problems. In order to be successful the social entrepreneur is reliant on the existence of supportive institutions (legal, cultural, organizational etc. environment) to promote the ideas of social entrepreneurship. Thus this process should go hand in hand with active institution building process and establishment of mechanisms for knowledge dissemination, designing financial markets and necessary underpinning structures to improve the selection and investment process. On the other hand, the microeconomic perspective on social entrepreneurship according to Santos F. (2009) is that the SE have the objective to generate value to society through the proposal of sustainable solutions to unresolved social problems.
In this intriguing book, the authors, portray and share an overview on how social entrepreneurs point out systems that exist in a secure but biased equilibrium and transform them into completely different, superior, and sustainable stability. Moreover, a lot of stories about different social entrepreneurs who have transformed, and are transforming, the world for the better have been shared in the book. Social Entrepreneurship has become kind of most used word for any business that promoted social change or any framework or setup whose enterprise has a supplementary benefit to social good. Being the term is overused and ill-defined, yet, it can be difficult to
Social Entrepreneurship are dispatched by a mixed bag of components, including exploration establishments, organizations or free associations, which each have a tendency to utilize their own particular meaning of Social Innovation. Thusly, it merits examining the most essential angles that recognize it from different types of social work or development. Social Innovation concentrates on the procedure of advancement, how development and change come to fruition (rather than the more customary meaning of social advancement, offering need to the inside association of firms serving the efficiency). Social Innovation concentrates on new work and new types of collaboration (plans of action) particularly those that work towards a feasible