SOCIAL ENTREPRENEURSHIP

Social entrepreneurship is an approach by individuals, groups, startup companies or entrepreneurs in which they develop fund and implement solutions to social, cultural, or environmental issues. this concept may be applied to a wide range of organizations. which vary in size, aims and beliefs. for profit entrepreneurs typically measure performance using business metrics like profit, revenues and increases in stockprices. social entrepreneurs however are either non profits, or they blend for profit goals with generating positive return to society. therefore they use different metrics. social entrepreneurship typically attempts to further broad social, cultural and environmental goals often associated with the voluntary sector. in areas such as property alleviation, health care and community development. at times profit making social entrepreneurs may be established to support the social or cultural goals of the organization but not as an end in themselves. for example an organization that aims to provide housing and employment to the homeless may operate a restaurant both to raise money and to provide employment for the homeless. in 2010 social entrepreneurship was facilitated by the use of the internet particularly social networking and social media websites. these websites enable social entrepreneurs to reach numerous people who are not geographically close yet who share the same goals and encourage them to colloborate online, learn about the issues, disseminate information about the groups events and activities and raise funds through crowdfunding.

Social entrepreneurship is distinct from the concept of entrepreneurship, yet still shares several similarities with its business cousin. jean baptiste say a french economist. defined an entrepreneur as a person who undertakes an idea and shifts perspectives in a way that it alters the effect that an idea has an society. an entrepreneur is further defined by say as someone who shifts economic resources out of an area of lower and into an area of higher productivity and greater yield. the difference between entrepreneurship however steams from the purpose of a creation. social entrepreneurs seek to transform societies at large, rather than transforming their profit margin, as classic entrepreneurs use a variety of resources to bring societies into a better state of well being. the concept of social entrepreneurship is not a novel idea but in 2000’s it has become more popular amoung society and academic research. notably after the publication of ” The rise of the social entrepreneur ” by charles leadbeater. many activities related to community development and higher social purpose fall within the modern definition nowadays, social entrepreneurship remains a difficult concept to define, since it may be manifested in multiple forms. a broad defination of the concept allows interdisciplinary research efforts to understand and challange the notions behind social entrepreneurship.

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