Social entrepreneurship has created a lot of interest in the last decade or so. More and more universities in addition to business schools are presenting entrepreneurship courses which are related to social entrepreneurship as the number of social enterprises keeps on growing.
This type of entrepreneurship is all about recognising the social problems as well as achieving a social change by employing entrepreneurial principles, processes in addition to operations. It is all about making conducting research in order to completely define a particular social problem and, after this, organising, creating as well as managing a social venture in order to attain the wanted change. This change may or may not include the thorough elimination of a social problem. It may be a lifetime process which focuses on the improvement of the current circumstances.
Whilst a general business entrepreneurship necessitates taking the lead to open up a new business or – alternatively – diversifying the existing company, social entrepreneurship primarily focuses on generating social capital with no measuring of the performance in profit or return in monetary terms. Social entrepreneurs are associated with non-profit sectors and organisations. But this does not mean that they don’t need to make a profit.
Together with social problems, social entrepreneurship also concentrates on environmental challenges. Child Rights foundations, plants for the treatment of waste products as well as women empowerment foundations are a few examples of social ventures. Social entrepreneurs can be those people who are associated with non-profit as well as non-government organisations that raise funds through community events in addition to activities.
