This book report should help the readers to mind the gap and leads social entrepreneurs into social impact assessment through a better knowledge of models that could support them in driving the process of being a social entrepreneur. It addresses entrepreneurs’, managers and practitioners who might encounter this issue in their everyday work. Aside from entrepreneurs, this book report should also help the scholars and academics, who can further develop and improve their knowledge about the social entrepreneurship. First of all, you need to learn what social entrepreneurship means. Social Entrepreneurship is just like an entrepreneurship that the mission is to generate wealth and entrepreneurs’ personal wealth.
Such organizations attain a successful change in underlying issues in the community through feedback and innovations towards solving the social problem. By constituting commercial, public issues, and ventures, social entrepreneurship greatly contributes towards Vision 2030. Components of Social Entrepreneurship Social entrepreneurship includes a combination of social and commerce issues used to enhance the lives of individuals connected to some community problems. Particularly, commercial matters are met to raise money that is used by the entrepreneurship to work towards eliminating the matter negatively affecting people. In fact, the sole focus of this business is to improve the world condition and not to make profits, unlike other forms of business existing nowadays (Phillips, Lee, Ghobadian, O’Regan, & James, 2015).
It firmly confirms that a Social Enterprise can maximize profits at the same time maximizing the betterment of the society. The book consists of 10 chapters which are essential in starting a social enterprise. These are Microeconomics, Marketing, Operations Management, Accounting, Financial Accounting, Management Accounting, Innovation, Product Development and lastly Testing. Every chapter tackles and defines the importance of each topic. It explains how these topics can be use in starting a social enterprise and proves to every reader that Social Entrepreneurship is really the secret in starting a business that anyone can say is worth living for.
Thus, now I have understanding how to design entrepreneurial process, analyze its main advantages and disadvantages. Also I had a possibility to discover the difference between various types of social enterprises and its values in Estonia and Europe. As well I know how to map the concept of social entrepreneurship using special technique of mind-map. Actually, it was amazing and very useful practice and it gives me understanding how to visually organize idea, its advantages and disadvantages and we created it in a team, so while modeling the mind map I had a possibility to try work with other people and share my ideas and listen their opinions and take a participation in various disputes concerning that. All in all, it was very interesting course which gave me good theoretical background and practical knowledge how to become a successful social
Social Entrepreneurship is contagious wherein a person who starts a social enterprise emboldens others to pursue their ideas and solutions regardless of its form. Social Entrepreneurship is concerned with building platforms that lets people of every age to think and behave like change makers and to help them work together. The study of social entrepreneurship sheds light on how change happens and how societies renew themselves. Despite the problems the world has, our hopes arise when we remember the historical changes that have enabled millions to take concerted and coordinated action to solve the world’s problem Social Entrepreneurship is the process by which citizens build or transform institutions to advance solutions to social problems. These problems may be poverty, illness, illiteracy environmental destruction, human rights abuses and corruption.
Entrepreneurs should think critically in order to come up with new ways on how to operate their businesses. Being an entrepreneur, you will be facing many challenges and you should be able to with them. For instance customers may not like your products or service you offered, so you should be able to cope with this. You should have some ways of how you will make people start liking your products or service by modifying your products, adding value and able to produce differentiate products unlike for your competitors, because of this you will attract more customers. An entrepreneur is able to promote his business in different ways apart from his competitors.
Corporate Social Responsibility (CSR) has gained its importance as an essential activity for corporate nationally and internationally. It has become a matter of utmost importance for diverse groups demanding change in the business orientation. From 1980 to 2000, corporations recognized and started accepting a responsibility towards society. CSR implies some sort of commitment, through corporate policies and action. This operational view of CSR is reflected in a firm's social performance, which can be assessed by how a firm manages its societal relationships, its social impact and the outcomes of its CSR policies and actions.12 The term ‘corporate social performance’ was first coined by Sethi (1975), expanded by Carroll (1979), and then refined
The book that I have read has two parts – social entrepreneurship and social change. It has its concepts and context in real life. There are real life cases and scenarios for the need of social change through entrepreneurship. CONCEPTS OF SOCIAL ENTREPRENUERSHIP Creative Destruction. This idea is simply destroying old ideas to create a new and more innovative one.
This is in line with the “vision 2020” plan that was developed in year 1991. One of the main goals of vision 2020 is to create a society that is not only economically well to do but also concerned about their actions and ethics towards others (Mohammad 1991). To achieve this, corporate social responsibility plays an important role in the business sector that has been earmarked as one of the key factors that can improve the country’s economy as well as benefit Malaysian’s lives at the same time (Mohammad 1991). This means that local companies have to find a customer base abroad especially in western countries as they have more spending power and this in turn will help our country’s economy grow and one of the ways of attracting these potential customers is by having a good corporate social responsibility track record. 2.3 CSR activities normally involve NGO’s and thus help with their growth Besides government bodies, non-government organizations as well as the media have played an important role on matters such as pollution, product safety, health hazards as well as discrimination against the handicapped.