Social Entrepreneurship And Its Effect On Social Value Essay

In spite of all advantages mention earlier about ethically and socially responsible business practice, it also has disadvantages, limitation and challenges. The most common and obvious limitation would be the cost that comes together with every investment a business does in order to meet all publicity’s requirements, for instance setting up Ronald McDonald House Charities. Every business has a goal which is at the top of their goal list and it is to be profitable. What is more, it is challenging to maintain the publicity’s and stakeholders’ satisfaction when investing into the society, employees and the environment.

John Mackey, founder of Whole Foods once said "Business social responsibility should not be coerced; it is a voluntary decision that the entrepreneurial leadership of every company must make on its own." (Mackey, 2005) In today’s society it is increasingly common for businesses to actively identify and become directly involved in the country and the global social issues and needs. It is now common

The ethical issues presented in this case are the different views that each individual has on how the idea of corporate social responsibility (CSR). This dispute is between Mr. Milton Friedman, John Mackey, and T.J. Rodgers; all of which has a different outlook on CSR. The definition of CSR refers to the responsibilities that business has to the society in which it operates and to those actions that a business can be held accountable. Most philosophers have come up with three different types of responsibilities that corporations can be held accountable for. The first and most important of the three is a corporation’s duty to not cause harm. If a corporation can

The expectation that businesses behave responsibly and positively contribute to society all while pursuing their economic goals is one that holds firm through all generations. Stakeholders, both market and nonmarket, expect businesses to be socially responsible. Many companies have responded to this by including this growing expectation as part of their overall business operations. There are companies in existence today whose sole purpose is to socially benefit society alongside businesses who simply combine social benefits with their economic goals as their company mission. These changes in societal expectations and thus company purpose we’ve seen in the business community over time often blurs the line of what it means to be socially

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

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.

By engaging with social causes in a variety of ways, a corporation can learn about new territories, product applications, cultures, and markets. Many companies seek to empower the poorest sector of the population, both at home and

In the article, It’s Time to Reinvent Work by Richard Branson explains that governments, non-profits organizations, and individuals will not be able to create social change, instead the world needs businesses to help instigate social change. Therefore, we can show the world that business can be a force for good by working together to reinvent work. Businesses should have a greater purpose than just doing business to make profits.

I’ve learned from this Book “Social Enterprise (An Introduction)” by Ken Stratford that sharing to your own community will help the community grow and by that means it will create humanity because helping people who are in need is caring because “sharing is caring” It will create a special bond to our brothers and sisters of the community and by that means we are getting more closer to God. And I learned that Social Enterprise is a way of giving back and sharing our blessing to others as I’ve said earlier. ‘Doing well by doing good’ makes us to have a fulfillment in life and at the same time having a purpose in life. Social Enterprise means that helping others to achieved their goals and as I read this book I learned that Social Enterprise has connection of “Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a

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

social entrepreneurs in their efforts to start a successful venture. This book is for someone that wants to learn useful skills on how to run a social enterprise that generates profits and alleviates social problems. The book outlines the purpose of a social enterprise, which is to address a social problem and how to generate revenues. It seeks to help someone that is interested in taking this journey to understand how to create an enterprise that is self-sufficient and sustainable. There are goals included to help navigate through the process, how to develop the concept and how to deal with uncertainty. It’s the uncertainty of the idea that social entrepreneurs choose to tackle intractable social issues, sometimes they have to operate in or create a market that does not yet exist, and they work in environments that generate uncertainty and present challenges.

In other words, serving a social need doesn't necessarily mean the company is giving money to nonprofits that feed the homeless; it means the company invests in the future by innovating products and services that meet social needs and also happen to be profitable. Companies

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.

Through this book, Yunus shows how social business is applied in the current business setting. Yunus also explains how the social business model could redeem the failed promise of the free enterprise model.