SOCIAL ENTREPRENEURSHIP
DEFINITION OF SOCIAL ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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combines the passion of a social mission with an image of business like discipline, innovation, and determination
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the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits
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Either A or B
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None of the above
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Detailed explanation-1: -A social entrepreneur “combines the passion of a social mission with an image of business-like discipline, innovation, and determination commonly associated with, for instance, the high-tech pioneers of Silicon Valley” (Dees, 1998). The use of the term social entrepreneurship is gaining increased popularity.
Detailed explanation-2: -Social entrepreneurship is the process by which individuals, startups and entrepreneurs develop and fund solutions that directly address social issues. A social entrepreneur, therefore, is a person who explores business opportunities that have a positive impact on their community, in society or the world.
Detailed explanation-3: -Social entrepreneurship is characterised by the combination of entrepreneurial and commercial means with social goals [35, 36]. It is ‘not-for-profit’ in the sense that profit is made, but such profit is not the primary driver.
Detailed explanation-4: -The social mission of social enterprises refers to value creation for the “public good, ‘’ whereas their economic mission refers to value creation for “private gain” (Austin et al., 2006).
Detailed explanation-5: -Social entrepreneurship can be defined as which of the following? A process involving the innovative use and combination of resources to pursue opportunities to catalyze change and/or address social needs.