Social Entrepreneurship - Essay Example

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The growth of an economy is dependent on the growth of business activities within the community. A thriving business environment forms the base of a thriving economy. In…
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Social Entrepreneurship
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Download file to see previous pages Entrepreneurs are individuals who facilitate the organization to grow and support the activities of the organization by enabling access to required resources and planning of production and marketing activities. However, bbusinesses should not overlook their moral and social obligations to the community in which they operate and serve. Government policies and regulations should be directed towards social benefits that prevent misuse of power and wealth, promotes effective resource allocation, and is instrumental in reducing the rich-poor divide. The concept of social entrepreneurship is based on the practice of organizations that exist for facilitating society and community benefits. The primary difference between business entrepreneurs and social entrepreneurs lie in the fact that the former is always seeking profits while the latter is driven by the urge to improve the society in which they live. The paper discusses various concepts and theories related to social entrepreneurship and its impact on the business environment. The paper also highlights the different perception of the concept in UK and US and its implications.
A social enterprise as opposed to business enterprises focuses on reinvesting the earnings for the welfare objectives instead of maximising profits for shareholders and owners. This kind of enterprise is run as non-profit organizations or associations that work for the benefit of the society and are driven by social or environmental objectives. These types of enterprises work in a similar fashion as other profit generating business organization but the earnings of a social enterprise are re-invested into the business for achieving the enterprise objectives. The focus of these enterprises remains on the community for which they exist and work towards the pre-defined social objectives or mission of the enterprise. A marked difference between a social entrepreneur and a ...Download file to see next pagesRead More
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