(i)Financial Capital/Liquidity Theory, this theory suggests that people with financial capital are more able to acquire resources to effectively exploit entrepreneurial opportunities, and set up a firm to do so. (ii) Social Capital or Social Network Theory, that is, an individual may have the ability to recognize that a given entrepreneurial opportunity exist, but might lack the social connections to transform the opportunity into a business start-up. It is thought that access to a larger social network might help overcome this problem. (iii) Human Capital Entrepreneurship Theory, underlying the human capital entrepreneurship theory are two factors, education and experience. The knowledge gained from education and experience represents a resource that is used by individuals to discover and understand differences in opportunity identification.
While the first stream of research is primarily concerned with the new social venture creation phenomenon, the second one is mostly attempting to clarify some aspects of this process. Some authors were pioneers in the first stream. For instance, as Haugh (2007) argues , the process of community-led social venture creation could be clarified by studying some cases and she considers some main pillars in her multiple case study research. Moreover, Townsend and Hart (2008) scrutinized the role of institutional ambiguity and the choice of organizational form in this process. They considered these two elements as critical factors for the success of a typical social venture creation
Some definitions of entrepreneurship has matched, others has contrasted, totally or partially (Braunerhjelm, 2010), it was stated that entrepreneurship is the vehicle to move the economy forward (Schumpeter, 1934); contrastingly; it was stated that the entrepreneur is someone who moves the market toward equilibrium as they discover profitable arbitrage possibilities (Kirzner, 1973). Entrepreneurship is not always related to the creation of financial wealth, it could be related to increasing employment, talking inequalities, or indeed, increasingly, environmental issues (OECD, 2007). Entrepreneurship is an exceptional set of activities carried out by individuals with an exceptional mind-set in order to maximize profit, entrepreneurs are these individuals who see the world differently and envision the future better than the other do (Abu-Saifan,
88) concluded that in stimulating productivity, competition play a vital role through new firms, ideas and provoking movements of the market driven by entrepreneurs. This would not have occurred in their absence and growth would not be in the same pace as it is. He also thinks that innovation bustle deconcentrates the market. Acs (1996) stated that one factor for the growth in the employment rate in US is the increase in the rivalry. This reduces economies of scale, increases in import competitions and provided improved structures of vertical integration.
This was considered essential as pointed by Mathur (1998), when he opined that it is necessary for motivating and assisting prospective and potential entrepreneurs to set up their own ventures to contribute in production, employment and tapping of unutilized resources. Also, Agbonifoh et al (1999), noted that “entrepreneurship is a crucial factor in economic development”. They however added that it is a means by which productive activities are indigenously owned and controlled even as it enables an economy to mobilize resources and talents that might not otherwise be put into productive use. This will at least reduce the unemployment menace which Nafukho (1998), described to have reached an alarming proportion. Hisrich and Peters (1998), explained that the study of entrepreneurship has relevance today, not only because it helps entrepreneurs better fulfill their personal needs, but because of the economic contribution of the new ventures.
are the location specific advantages. I stand for internalisation. When the first two conditions are fulfilled, it must be profitable for the firm to use these advantages in collaboration of some of the factors outside the country of origin (Dunning, 1973, 1980, 1988). The electic paradigm of OLI shows that OLI parameters are different from company to company and it reflects the economic, political and social conditions of the host
scarce resources to empower all segments of the population, often through collective bargaining power. SE are not exclusively motivated by financial interests; rather, they are driven by the objective to provide goods or services to the community, particularly minority populations (i.e., a social purpose). This process further enhances the generation of collective externalities which may be leveraged for communal wellbeing. The founder of the Ashoka Fellowship, William Drayton (Leviner N. et al, 2012), first coined the phrase “social entrepreneurship” being a process in which an entrepreneur conceives and explicitly seeks new solutions to entrenched social issues. SEs are multi-stakeholder enterprises which combine the ownership interests
S. Graham describes it as the process of sus-taining a level of entrepreneurial development as to create a paradigm shift in economic activity such that national GDP, job growth, capital investment, technology advancement, and quality of life is un-matched, unsurpassed and unequalled. And the hu-man population should strive through local, state and national efforts to seek to establish an economic mentality that is strategically focused on entrepre-neurship and authentic organic economic growth at the community level (Graham 2010). While Shaltegger and Wagner perceive sustainable entre-preneurship as in essence the realization of sustain-ability innovations aimed at the mass market and providing benefit to the larger part of society. By re-alizing such a (radical) sustainability innovations sustainable entrepreneurs often address the unmet demand of a larger groupd of stakeholders (Shaltegger, Wagner
In other words, talented social entrepreneurs are in demand just to launch or initiate change in the society. In the same manner, the book as an introduction to the field is matchless or unparalleled. I find the provision of the definition of social entrepreneurship very clear and straight and that of innovating society where the social entrepreneurs have to use their skills and talents. Evident in the book is the elaboration of making “everyone a changemaker” based on the concept of Ashoka’s Bill Drayton. This goes to say that as a social entrepreneur, it is important that one has to be skilled and equipped with talents.
Entrepreneurs are someone who drills initiative by organizing an investment to take benefit of an opportunity and as the decision maker, determines what, how, and how much of a good or service will be provided. Entrepreneurs usually have fondness to create a change. An entrepreneur specializes in taking subjective decisions about managing limited resources. In simple words, entrepreneurs are people who want to work for themselves. Entrepreneurs seek to increase the capacity their undertakings while decreasing the threats.