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Analysis Project - Essay Example

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Social Entrepreneurship: A Critical Examination of Four Sources The topic to be discussed today concerns social entrepreneurship and how it renders revolutionary ideas in shaping modern-day business operations. As a background, the term has been introduced in response to the pressures given by external publics—especially by government and by local communities—on how a firm should conduct its operations (taking into consideration the ecological, social, and cultural implications of its various business activities)…
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Analysis Project
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Download file to see previous pages As such, four sources have been identified and will be used to gain deeper perspectives and insights on the topic. The first source is an academic paper written in 2003 by Jerr Boschee and Jim McClurg entitled Towards a Better Understanding of Social Entrepreneurship. The second source is a Harvard Business School paper written in 2009 by James Austin and Ezequiel Reficco entitled Corporate Social Entrepreneurship. The third source is working paper written in 2009 by Filipe Santos entitled A Positive Theory of Social Entrepreneurship. The last source is think piece written in 2003 by Charles Leadbeater entitled Social enterprise and Social Innovation: Strategies for the Next Ten Years. All of these works have been developed to explore the theoretical and practical dimensions of social entrepreneurship in an analytical and scholarly manner. Therefore, using these sources will not only widen my perspective on the conceptual implications surrounding social entrepreneurship, it will also help me better appreciate the concept from a pragmatic and process-oriented view. Firstly, Jerr Boschee and Jim McClurg, in their paper entitled Towards a Better Understanding of Social Entrepreneurship, elucidated the essential characteristics of social entrepreneurship which are summarized as “adopting a mission to create and sustain social value (not just private value); recognizing and relentlessly pursuing new opportunities to serve that mission; engaging in a process of continuous innovation, adaptation, and learning; acting boldly without being limited by resources currently in hand; and exhibiting a heightened sense of accountability to the constituencies served and for the outcomes created” (Boschee & McClurg 4). In this regard, self-sufficiency is the determining factor of social entrepreneurship, which springs from the embracing of innovative and goal-driven ideas that contribute in the reconfiguration of business processes. Thus, it is the fulfillment of specific social goals and not the maximization of market shares and profits that becomes the company’s ‘bottom line’. Analyzing the authors’ discussion on the key characteristics of social entrepreneurship, it can be claimed that they have indeed clarified what makes this type of entrepreneurship unique and worth pursuing. Secondly, in the Harvard Business School paper entitled Corporate Social Entrepreneurship, authors James Austin and Ezequiel Reficco purported that the proper execution of CSE lies in the creation of a culture that empowers employees toward becoming effective leaders. As such, the authors posited that in order to produce a significant and comprehensive transformation in business operations, the firm must “adopt a socio-entrepreneurial mindset and cultivate a socio-entrepreneurial environment that enables fundamental organizational transformation” (Austin & Reficco 3). Top leaders have a pivotal role in not only determining how the principles of CSE help the company attain its business objectives, but also in spearheading the integration of all business processes as aligned with the set goals. Looking at the authors’ major views on the redefinition of the company’ ...Download file to see next pagesRead More
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