The terminology uses in social entrepreneurship can be a problem because they can be used interchangeably with the terms; social entrepreneurship, social entrepreneur, social enterprise and social innovation. The social entrepreneurship means a process or behavior while a social entrepreneur is the one who form the enterprise or the one who founded and make the initiative to have a non-profit organization. The Social Entrepreneurship can be grouped into four variables: The domain of social entrepreneurship, the characteristics of individual social entrepreneurs, the object of social enterprises, and lastly the innovative approach. The identification of a proper domain of social entrepreneurship is an important issue for scholars because it can be defined in narrow and broad definitions. The sample broad definition came from the author Haugh, it states that “social enterprise is a collective term for a range of organizations that trade for a social purpose in life.
The qualities that motivate entrepreneurs to pay forward are the same qualities to what makes one an entrepreneur. On the other hand, are there any drawbacks to harvest entrepreneurs and entrepreneurship? Is there a ceiling for the number of entrepreneurs a society can hold? These questions can help in finding out if there is another side to entrepreneurship. The interesting interaction of entrepreneurship and economic development has vital inputs for policy makers, development institutes, and business owners.
This strategically oriented discipline relies on making, communicating, transporting, and swapping offerings that have a positive worth for individuals, clients, partners, and society at large. There are a few noteworthy differences between social marketing and commercial marketing. Social marketers concentrate on influencing behavior for societal gain, whereas commercial marketers focus on selling merchandises and amenities at a financial gain for the organization. Commercial marketers position their products against those of other companies while the social marketer competes with the audience’s current behavior and its associated benefits. Social marketing principles and techniques are most commonly used to improve public health, prevent injuries, shield the environment, increase participation in the community, and enhance financial well-being.
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
Social innovation as the word explains is the implementation of activities and products in order to meet the social needs of the society, or in other words is the means of giving back to the society. Two main topics within it are social responsibility and business ethics. Gallego-Álvarez, I., Prado-Lorenzo, J. & García-Sánchez, I. 2011, explain how social innovation and corporate social responsibility (CSR) highly rely on each other with a view that in order to be sustainable the adoption of innovation is required to be “energy efficient” and help reduce over consumption of resources.
The roots of social capital originate in the field of sociology and were first developed by Bourdieu (1986) who argues that social capital leads to access to economic resources and Coleman (1988) who studied social capital in a family context (Portes, 1998). In the widest view, social capital contains many aspects of a social context such as social ties, trusting relations and value systems that facilitate actions of individuals located within this context (Tsai and Ghoshal, 1998). Granovetter (1992) argues that social capital is a valuable asset because it gives access to resources as a result of (social) relationships. Burt (2000) recognizes a variety of definitions and describes the social capital metaphor as “advantages that individuals or groups have because of their location in social structure” (Burt, 2000: 347). There is no general consensus about the exact definition of social capital.
Introduction: Social capital might be regarded as the glue that holds society together such as human relationships, people doing things for each other out of sense of social solidarity, social obligation and community (Putnam, 2000). In this assignment part one will explore the meaning of social capital and the benefits of high social capital. Part two will discuss the three examples to evaluate how social capital can help change the side effects of social-economic disadvantage. Part one: What is social capital? Social capital is defined as ‘the features of social organisation, such as trust, norms, and networks that can improve the efficiency of society by facilitating coordinated actions’ (Putnam, 1993, p.167).
The main concern of traditional entrepreneurship is financial outcome. 18.104.22.168 Social Entrepreneurship According to Greblikaite (2012:212) social entrepreneurship could be described as a business that aims to help in solving social problems. Social entrepreneurship is not only concerned with financial outcome but also with social impact.Shaw and Carter (2007:418) A creative way in dealing with unmet socio-economic essential wants could be known as social entreprenership. Social entrpreneurship could be in private organization or public entity. For example, entrepreneurship can take place in charities, voluntary and non profit sector or in enhancing education, work and culture Shaw and Carter (2007:419).
To start with, by general definition entrepreneur is a person who makes a choice to run a small but own business rather than work as employee. This person is both seen as business leader and innovator of new ideas and business processes. For me, social entrepreneurs are people who are driven by innovative ideas and social problems on a large scale. “Creating social value” - that is how they differ from business entrepreneur who is concentrated on creating and transforming of big industries and making profit. Even thought, they do not prioritize making profit; they just generate it and invest it in the population needs.
The connection between self-efficacy and performance provided within the emotional literary works is the base for the entrepreneurial self-efficacy construct. The entrepreneurial procedures of a small company are due to the entrepreneurial techniques, actions, and abilities of the business owner. Most of the business owners can be recognized from business owners depending on their stage of entrepreneurial self-efficacy (Chen et al., 1998) as it performs a crucial part in creating their entrepreneurial objectives which cause to accomplish great entrepreneurial performance (Boyd, & Vozikis, 1994). Entrepreneurial self-efficacy impacts performance by impacting business owner passions, inspirations, and determination levels (Chen et al., 1998). It is also favorably relevant to entrepreneurial performance (Lindsay, & Balan, 2005).