Individual Learning Log - Essay Example

Thus social enterprises are an established business concept and help the economy grow (Kerlin, 2009). It is easier for social enterprises to collaborate within themselves than to collaborate with other small and medium scale enterprises. Due to their activities, social enterprises are better established via informal contacts than through formal support since the community is their main client and sponsor (Kerlin, 2009). Major activities in the goals of social enterprises are sustainability and capacity development.

This may be hard when it comes to practice since most businesses exist for commercial goals. Thus conflicts may arise since social and environmental responsibilities are the major goals for any social enterprise. Integration with the local community helps solve these conflicts (Paton, 2003). Small and medium enterprises have more in common with social enterprises. They all start small and grow through some steps in growth. These all start from creativity with a need to serve the community thorough provision of missing services.

As with the case of social enterprises, they seek to provide essential service to the needy in society (Bull & Ridley-Duff, 2011). Those who run social enterprise are best known as social entrepreneurs. They differ from other entrepreneurs in that their mind set is not focused primarily in making profits but rather integrating the business with the community (Bull & Ridley-Duff, 2011). Most entrepreneurs are innovators and do not follow the standard way of doing things hence are disruptive. So for social entrepreneurs, they should be managers or look for managers to run the social enterprise.

A manger of the social enterprise should strive to ensure that the business is sustainable and that the enterprise aspect is upheld. Most funding comes from donations and entrepreneurial activities and not from equity investments. This means that there are no major shareholders that run the finances of