The Importance Of Social Entrepreneurship

1001 Words5 Pages
Introduction Social Entrepreneurship is about finding a solution to social problems which could include a solution to social housing, etc. This paper will discuss the importance of social entrepreneurship and what the concept actually means. In addition, social transformation is an important area to which will also be discussed. I agree with the statement that social entrepreneurship should be about social transformation but often is not. Most economists and academics support the concept that entrepreneurship is starting to become a vital factor in the development and well-being of societies. Entrepreneurship offers new competition, and as such promotes improved productivity and healthy economic competitiveness. Entrepreneurs utilize their activities to be directly tied with an ultimate goal of creating a social value. Entrepreneurs who use their skills for a social purpose often act with little or no intention to gain personal profit. Social entrepreneurs drive social innovation and transformations in various areas such as education, health, environment, and enterprise development. They pursue to find solutions through poverty alleviating goals with entrepreneurial spirit, business methods and the courage to innovate and overcome traditional practices. A social entrepreneur, similar to a business entrepreneur, builds strong and sustainable organizations, which are either set up as not-for-profits or companies. The Importance of Social Entrepreneurship
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