Social Entrepreneurship Theory Essay

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The third theory that elaborates on this topic is opportunity-based entrepreneurship theory is associated by names such ad Peter Drucker and Howard Stevenson. According to Drucker and Stevenson, entrepreneurs exploit the opportunities before them, be it in technology or new markets, and create transform lives through them (Teece 2013). This assumption contradicts Schumpeter’s premise that entrepreneurs are not responsible for change though their innovation. In this case, it would be safe to point out that both the ability to cause change and notice situations that require change is part of the ‘process’ of entrepreneurship. Schmitz provides similar notion of opportunity-based entrepreneurship when he notes that entrepreneurship promotes social-economic transformation because of “imitative activities of entrepreneurs” (Schmitz, 1989, p. 721). Schmitz’s model argues that it is the imitating entrepreneur, rather than the innovative entrepreneur who promotes growth in the economy (Schmitz, 1989). Imitating entrepreneurs are those who emulate or duplicate existing innovative ideas of original entrepreneurs and puts them into use. This idea …show more content…

The other proposition is that online social entrepreneurship leads healthy competition among individuals and firms, which in turn promote innovation. There is a focus on customers and creating close a close relationship with them and the reason for enhanced online user interface. Online social entrepreneurship has a direct correlation with improved social life, for instance, creating innovation that transform how business is conducted (online buying), promoting social interactions through social media, creating employment opportunities and better business

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