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Running Head: English The Future of the World with Social Entrepreneurship Research Paper Name Name of Professor Introduction Love is at the heart of charity. But love and doing business are also one and the same. Social entrepreneurship, unlike charity, is a combination of philanthropy and business or for-profit goals…
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Download file to see previous pages Therefore, this essay argues that in order to better solve social problems, we should go beyond the concepts of charity and social responsibility, to a solution that focuses on the diversity of our values, the complexity of our social problems, and a practical approach toward understanding and solving them. Social entrepreneurs possess a powerful combination of clear vision and creativity. Social entrepreneurs view problems as opportunities. Social Entrepreneurship: A Better Solution to Social Problems The market has a very important role in attaining the needs, objectives, values, and interests, which are vital to a well-functioning society. Market processes are vital to the creation and delivery of products/services. However, the government can serve an important function in pricing products/services in a manner that is compatible with social and moral principles, not merely financial concerns. The government should assign value to activities that promote public interest or the greater good, and then let the market operate within these values and carry out its own functions (Yunus, 2010, 162). Businesses will always build a strategy to take advantage of the market and generate products/services that will eventually finance the society’s values and interests. Businesses have shown that they can react immediately to market prospects. Once the public begins to put a price on values, such as free education, health care, and sustainable energy, businesses will formulate a strategy to tap on the markets and meet the demand for those social services. Businesses are the source of a society’s wealth; they produce the resources that make social development possible (Light, 2010, 43). The market can be controlled to support and strengthen social values. The market is unprincipled: it values money and ignores social values. Nevertheless, governments, businesses, the society, and individuals can and should perform their duties in a moral way. It is not merely achievable but essential for the market to exhibit these moral acts if social problems are to be solved (Light, 2010, 30). Because socialism did not succeed and capitalism did, the market is the best instrument society has to solve enormous social problems. The problem with socialism is that it tries to separate the producers from the means of production (Yunus, 2010, 198). But the solution to social problems rests on the unification of capital and labor. Multinationals do not have a choice but to promote corporate social responsibility. The market strongly obliges businesses to act morally and responsibly. Different stakeholders, such as employees and the community, expect businesses to focus not just on financial gains but also on fair workplace practices, responsible corporate governance, and sustainability. Companies that do satisfy these different stakeholder demands have a greater chance of surviving (Bornstein, 2007, 274). Current investors increasingly value environmental sustainability and corporate social responsibility. Investors view CSR as a primary driver of good financial performance, and so they encourage companies to act responsibly (Bornstein, 2007, 276). Businesses, especially those large ones, realized that promoting CSR will certainly increase financial perform ...Download file to see next pagesRead More
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