What Is Social Entrepreneurship?

Social Entrepreneurship

It is defined as individual’s effort in solving economic problems for the benefit of the society. Such solution requires business methods and very innovative strategies to address the problem. In order for such thing to be successful, the business itself must be also built in the idea of sustainability. What makes it similar to regular business is the idea that the act itself is problem solving but what draws the line between an ordinary business and entrepreneurship is that, social entrepreneurship is mostly aimed to be a non-profit organization or for-profit and it is aimed to solve complex social or human problems.

Application of Business Principles

Market Mechanism

Unlike business ventures, social entrepreneurs

Entrepreneurship focuses more on profits while Social Entrepreneurship itself is using the business as a means or strategy to achieve a goal of solving societal problems. The thing with social entrepreneurship is that, the aim of the activity is helping a community or an individual by creating jobs or empowers them with skills that can help them sustain themselves without focusing only in profit.

What Do Social Entrepreneurs Do?

Aside from solving to address complex societal issues, Social entrepreneurs also address market failures. Social entrepreneurs look for a way to introduce product by shedding a new light on it by reintroducing the product. They also ease the burden of the government by helping the target community become less reliant to the help of the government.

Defining Social

Although there is no definite answer whether this form of business is effective at all, there are some cases in which Social Entrepreneurship is seen as one good solution in a problem. Countries that are very vulnerable to climate change, poverty and disaster at short term won’t benefit at it immediately at a short term since like in a regular business, they need some sort of capitalization. In this case, this can be remedied by donations and charity once disaster strikes. In a longer run, Social entrepreneurship can be a solution since it can give the community a chance to prepare for a new disaster and at the same time, it welcomes innovative