Online Social Entrepreneurship

Online social entrepreneurship has become commonplace in today’s global economy owning to an eruption of technologies that support online business. Similar to conventional social entrepreneurship, online social entrepreneurship embodies the concept of service and facilitation through employment opportunities, creation of new markets, introduction of new products and services and philanthropic initiatives. The objective of this paper is not only to try and explain the meaning of online social entrepreneurship, but also to investigate what causes it to succeed. Online entrepreneurship has become socio-economic phenomenon for it presents unusual and innovational approaches to business function. Foremost, the technologies that support online business

Short (2014) defines social entrepreneurship as any activity that is directly connected with the primary goal of establishing social value. Thus, social entrepreneurs are intrinsically motivated and do not seek personal gain. According to Chell, proceeds are considered a by-product of the activity and it results from the fact that a social entrepreneur merges the zeal of a social mission with a business-like model coupled with innovation and resolve (2007). Based on this interpretation, it would mean that online social entrepreneurship is a form of social entrepreneurship that focuses on promoting social good on the

created a model that argues that talented people organize production by others for the to spread their capacity advantage on a larger scale (1991). This model supports Schumpeter’s concept of innovation in that individuals possess gifts and competencies that make them innovative to transform existing business processes to make them more advanced. This model focuses on an individual’s talent and ability to expand the economy talent allocation and in this way promote collective good. Innovative entrepreneurs develop technologies that enhance daily functioning, a factor deemed necessary for market appeal. Murphy, et al.(1991) note that when talented people become entrepreneurs, they shift how products and services are provided by creating better alternatives of production. In the case of online social entrepreneurship, the focus is on service delivery and how to improve this aspect of economic life. Today, most online social entrepreneurship are improving old ways of doing things and making them simpler by the day. The competition also seems to be between companies in the same sector, for instance, online companies such as Yahoo and Google, Facebook and Twitter, Uber Taxi and Easy Taxi The high intensity of innovation among online companies creates healthy competition that leads to development of sophisticated services (Short 2009). Although some innovations have a short-life cycle, considerable gains of entrepreneurial practices are usually felt if the