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.
Entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. It is an attractive career choice. But many decisions have to be made before launching and managing a new business. Most economists today agree that entrepreneurship is a necessary element for stimulating economic growth and employment opportunities in all societies. In the developing world, successful small businesses are the primary engines of job creation, income growth, and poverty reduction.
Courage, Compassion and Vision–characteristics that a Social Entrepreneur must possess. The book, Social Entrepreneurship What Everyone Needs to Know by Bornstain and Davis, has intensify and deepen the knowledge that I already have about Social Entrepreneurship; its beauty and its benefits in the long-run. Taking part in Social Entrepreneurship is not easy to put it in a general sense, all Social Entrepreneurs are Entrepreneurs but not all Entrepreneurs are Social Entrepreneurs. Social Entrepreneurship is a calling and a commitment to provide a sustainable life for other people. The book has tackled the different meanings of Social Entrepreneurship and Social Entrepreneur to make the readers understand what it truly means.
The interesting interaction of entrepreneurship and economic development has vital inputs for policy makers, development institutes, and business owners. If we understand the benefits and drawbacks, a balanced approach to nurturing entrepreneurship will definitely result in a positive impact on economy and society. Entrepreneur’s contribution to the economy is of huge value. The entrepreneur is vital to the economic growth of the country. Their products are valuable to the overall development of the society.
It’s overwhelming how one can have the heart to help and provide for other people and at the same time it pushes you and your conscience to do the same and start a change. These Social Entrepreneur solves problems of the society such as poverty, hunger and unemployment which alleviates problem not just of the society but the people themselves. Another part that I want to discuss is “Social Entrepreneurs come from all walks of life.” These people may be businessmen, leaders, priests; Social Entrepreneurship doesn’t only exist in the rich. Yes, they may be a part of the help but it is not necessary that a person is reach to solve a problem and help. There is also a part in the book wherein it tackled the need for both kinds of Entrepreneurship (Social and
They believe that sustainable enterprise development can reduce and better conditions of poverty and unemployment through economic empowerment and uplifting the quality of life of disregarded and disadvantaged developing entrepreneurs. Pick n pay has shown effectiveness of the CSR program by linking emerging and developing farmers to the Pick n Pay Stores. This has helped tremendously because the most challenging area for emerging farmers is the market access. Pick n pay has provided guidance and on-going mentorship for communities that run enterprises. This will especially help poor communities with their projects and activities in assisting them to be a success.
QUESTIONS: 1. How would you define a social enterprise? It is widely known to all that social enterprise is used to mean a unit of business, traditional enterprise provides value for their customers and shareholders, while social enterprise is driven by social goals, creating societal wealth for the society (Chalmers, D. and Fraser, S. 2012). Therefore, lots of scholars tend to explain it from the aspect of why it is social instead of private, according to Mulgan, G. (2006), the whole organisation and activities are aim to their social mission, which is devoted to solving a series of social problems, such as helping disadvantaged groups, conducting fair trade, etc., as well as environmental issues like sustainable development. However, this
Within social networks, three different dimensions exist: structural capital, relational capital and cognitive capital. By actively participating in social networks, collective learning is stimulated and it results in a better collective understanding of the norms. Innovations (INV) Due to the limited amount of resources entrepreneurs often have available, they need to be create in solving social issues. Since social entrepreneurs often explore bottom-pyramid markets which might not be so interesting for the traditional profit oriented entrepreneurs, they create innovative
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.
THE IMPORTANCE OF ENTREPRENEURSHIP IN THE DEVELOPMENT AND GROWTH OF THE COUNTRY The role of entrepreneurship in the economic development creates a lot of employment opportunities, thus reducing unemployment. It promotes capital formation. Entrepreneurs promote capital formation by mobilizing the idle savings of public. Reduces concentration of economic power. Economic power is the natural outcome of industrial and business activity.