It can be large scale or small scale depending on the idea and the participation of other aspects of the wave makers who are involved. Through this social business, I can involve other citizens such as the marginalized to become partners in social change and help them get out of poverty. By targeting the gaps, I can develop new niche markets by meeting unanswered needs as well as gaps among ecosystem participants trying to address an ecological issue. Social entrepreneurship is not just about people, it is also answering the causes of the planet while still creating a profit. As simple as the problem of traffic congestions, social entrepreneurs has answered this problem through safe ride-sharing or carpooling mobile applications.
Access to finance is the most significant obstacle to starting up a business, as mentioned by 26.5% of 15-24 year olds and 41.3% of 25-39 year olds.8 Different kinds of practical support are also lacking in the process, particularly relating to creating a sustainable business that can expand in the future. For example, administrative procedures are often seen as too complicated, acting as an obstacle to successful entrepreneurship. There are many barriers to youth entrepreneurship such as lack of entrepreneurial education, business support, regulatory framework conditions, social acceptance, and access to
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. Thus, social entrepreneurs need to build better competencies as well as resources, specifically human resources. Aside from the skills and capabilities, social entrepreneurs should hire employees who are social mission fit. This means that they should have the passion to serve communities and help the social enterprise. In addition, employees should be founder-fit.
A Book Report of Social Entrepreneurship: The Secret to Starting a Business Worth Living For By: Marcel N. Kwedi (First Edition) Introduction: Social Entrepreneurship: The Secret to Starting a Business Worth Living for is made by Marcel N. Kwedi. Marcel is the current founder and president of the WOHAOO Initiative project. This Project of him is a platform to get funding for the Social Enterprises who need it around the World. He defined Social Entrepreneurship with the new view of General Theory of Social Entrepreneurship. This theory states that social entrepreneurship is any business activity that uses strategies that are innovative and sustainable to construct and come up with new products which can fill up the unsatisfied needs of the
Sociology, the second discipline that helped form the foundation of OB, this is according to Study.Com (n.d.). As defined, Sociology is the study of society. This discipline helps in understanding the group or departmental dynamics and how it influences the organization. Organization changes happens every now and then as companies tries to stay afloat in this globalization era, companies implements changes every too often to cope with and to stay as a front runner in the global market. In adapting to these changes, Sociology helps in insuring smooth transition and the organizations
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
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.
They should know how the controls of Web 2.0 works. Moreover in this article it has been argued that funding was particularly difficult to raise for small business with their respect to their sizes, traditional financing methods are out of reach for these small companies as the result crowdfunding as become an important fund raising method for small entrepreneurial companies. Elizabeth M. Gerber, Julie S. Hui ,PeI-Yi
Social Entrepreneurship for Dummies defined social entrepreneurship as applying the principles of business to create social change by establishing and managing a venture. These social problems may occur in at a local, regional, national or international level. Some problems are minor nuisances like overcrowded roads. Others are problems that threaten the way of life and are more serious concerns like environmental pollution, crime and corruption. Then there are problems that threaten the life of people itself like war, climate change, famine and natural calamities.
Introduction: Social Entrepreneurship is defined by Marcel N. Kwedi, the author of the book, with the new view of General Theory of Social Entrepreneurship. This theory states that social entrepreneurship is any business activity that uses strategies that are innovative and sustainable to construct and come up with new products which can fill up the unsatisfied needs of the society most especially the masses. But in the book in clearly states that Social Entrepreneurship is not about charity. It focuses on making the society a just one. It firmly confirms that a Social Enterprise can maximize profits at the same time maximizing the betterment of the society.