Importance Of Social Entrepreneurship In Community Development

Social Entrepreneurship has been in our economy since historic times. They may not have been recognized properly with that term, social entrepreneurship, but what some other people from historical times had done can be considered as an action that pursue to solve social problems. Social Entrepreneurship had already been defined in several books, however, in the book, Social Entrepreneurship: What Everyone Needs to Know, social entrepreneurship had not only been defined but had also discussed the very origin of not just the term itself but as well as the actions that some people from historical times had done that can now be seen as a model or example of social entrepreneurship.

Social entrepreneurship which has been applied in so many different ways by so many different analysts that it’s depth of vast complexity is still being unraveled and it seems it is still in infancy. It is a multi-interpretable concept and although the use of the term is widespread its use is either overrated or misused. Hence, it is important to firstly understand what social entrepreneurship really is.

Michelle Ellena, MA in Social Entrepreneurship and Change, Graduate School of Education and Psychology, Pepperdine University. Correspondence concerning this article should be addressed to Michelle Ellena at mellena@pepperdine.edu

Social entrepreneurship is not new, but phenomenon blossomed over the past 20 or so years. Exact figures for the number of social entrepreneur are difficult to verify, but estimates number in tens of thousands working around the world.

The interview was conducted at Mrs. Singh’s house, where she has opened her tutoring center called New Heights Tutoring Centre. It was a privilege to talk to Mrs. Singh and spend a day with her to garner a notion of what it takes to be a social entrepreneur. Mrs. Singh is a self-made entrepreneur who is not afraid of taking risks in her life, rather she is always looking to embark on new adventures that tests her abilities that allows her to improve the lives of her students. Furthermore, she comes across as an inspirational leader for her students and other individuals in the society.

A) A real entrepreneur can take an idea and that can be change in to a service or product according to the needs of certain population. Because of this characteristic economists said that “entrepreneurship is becoming an important agent in the growth and wellbeing of the society”.an entrepreneur is motivated by family or society. They offer new completion and also promotes improved productivity. They can recognize and resolves social problems on a large scale. To create social value entrepreneurs act as a change agent for the society like designing and distributing new approaches. Entrepreneur react very quickly and effectively to the change so that they can take the advantage of opportunities. If they can’t capable of quick action it will be result on their process and success. Social entrepreneurs are stepping to solve the problems.

Civic entrepreneurs are helping communities cooperate to compete in the information age coming from all experiences of life and a new gener¬ation of leaders who forge new, powerfully productive connections at the center of business, government, education, and community. These entrepreneurs have much to teach us about building vital and strong economic communities in raging times and in the process, restoring civil so¬ciety from the very roots. They help communities to collaborate, organize and develop their economic assets and to build productive, tough relationships across the public, private, and civil divisions that misrepresent the ties that bind economy and community for their shared benefits. The provision of the continuity of work on tough issues and continue working overtime is a trait of a civic entrepreneur.

Apart from all the scholarly concepts presented, other practical interpretations of SocEnt are happening in the field. As suggested by Schiller (2013) , there are several prominent social sector organizations like the Schwab Foundation, the Ashoka network and the Skoll Foundation, which support and define social entrepreneurship (2013, p. 13).

The nonprofit sector is gaining popularity around the world and for a very good reason. It employs nearly 2 million people and there are roughly 162,000 nonprofit organizations. There are many categories of the nonprofit sector, but during this paper, we are going to concentrate on the social enterprise aspect. Social enterprises can take form of 4 different structures. Social enterprises can take the form of a registered charity, A NPO, A for profit organization, or a hybrid organization. Throughout this paper, we will discuss and inform the reader on : what a social enterprise is, an example of a social enterprise, what are the advantages

Social entrepreneurship is gaining such strong interest in nonprofit world because of the economic challenges that have plagued this sector with cuts in philanthropic and government funding. According to Nash (2010) not only are there cuts, there are many organizations vying for the limited funding. Studies support, the attitudes in capitalistic America, and the ease of nonprofits to embrace this concept; evidenced by their ability to sell their once free services, to meet the demands of the consumer. According to the IRS (2010) nonprofits have increased their selling power on unrelated business income, to the tune of 184% increase, in a sixteen-year time frame. This writer, believes these numbers are evidence which support this trend is

It is observed that the phrase “Entrepreneurship” has been used in disparate meanings by scholars around the world. In academic definition, entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control(Stevenson & Jarillo). In venture capitalist, entrepreneurship is the art of turning an idea into a business(Fred Wilson). In a simple word, entrepreneurship is the process of designing a new business and start new businesses is the most obvious example of entrepreneurship. Most researchers would agree with a definition of entrepreneurship as an activity that involves the

Entrepreneurship is not an inborn skill; it is a product of environment. It involves a complex of economic and social behavior. To be successful, an entrepreneur has to remain dynamic and responsible to the whole environment. Entrepreneurship can hardly survive under any given circumstances. It can flourish only under right environment. It is a part of total system. The social values, culture, government policies, political system, technology, economic conditions, laws, etc influence the growth of entrepreneurship.

This section discusses the plan on how to set revenue and social impact goals, how to navigate the sociopolitical landscape, and how to develop a strong concept

Entrepreneurship is the process of designing, launching and running a new business while social entrepreneurs launch the business and implement solutions to social, cultural, or environmental issues simultaneously. Bill Drayton once said, “There is nothing more powerful than a new idea in the hands of a social entrepreneur.” In the world, there are billions of people have no access to education, healthcare, clean drinking water, food and even the basic human rights and respect. Violence, poverty and more global issues are at the alarm rate nowadays. These matters have to be tackled immediately before it is too late to do so. In our opinion, social entrepreneurship is the best way to help the needy and overcome the problem.

INSTRUCTIONS TO CANDIDATES 1. This question paper consists of four (4) parts : PART A (20 Questions) PART B (20 Questions) PART C (5 Questions) PART D (2 Questions)