SOCIAL ENTREPRENEURSHIP “We make a living by what we get, we make a life by what we give."- Sir Winston Churchill "There is more hunger in the world for love and appreciation in this world than for bread."- Mother Teresa Learning Objectives By the end of the chapter the reader should be able to:- i) Define social entrepreneur an examples of social problems that they address ii) Differentiate between business and social entrepreneur iii) Profile the characteristics of social entrepreneurs iv) Describe the role of social entrepreneurs as change agents v) Explain the sources of social entrepreneurial opportunity vi) Examine the causes of growing concern for social responsibilities vii)Illustrate the need for social initiative viii) Analyze the unethical business practical Definition of Social Entrepreneur A social entrepreneur is someone who recognizes a social problem and uses entrepreneurship skills/principles to organize create and manage a venture to bring social change, whereas a business entrepreneur typically measures performance in terms of profits and returns, a social entrepreneur assess success in terms of the impact it has on society. While Social entrepreneurs often work through non-profit organizations and citizen groups, many entrepreneurs work in private and government sectors Examples of social Problems i) Pollution ii) Poverty iii) Technology iv) Unemployment v) Security vi) Infrastructure vii)Housing viii) Health ix) Sanitation x) Diseases xi) Political instability xii)Crime xiii) Illiteracy Examples of social entrepreneurs include; - Professor Wangari Mathaai- By conserve the Environment - Dr. James Mwangi -Managing Director of Equity Bank Kenya - Who was named entrepreneur of the year 2012 for his active improvement in the following programmes: Education, Leadership, financial literacy, & entreprenurship, heath, innovation and environmental sustainability. - Dr. Manu Chandaria - Started a company for paper recycling to solve the problem pollution
- John Michuki- A Minister in Kenya Government who implementation traffic rules to reduce road carnage and also rehabilitation of Nairobi river Social Entrepreneurship It’s the work of social entrepreneurs. The main aim of social entrepreneurship as well as social enterprise is to further social as well as environmental goals. Social Business Is one which aims to be financially self-sufficient, if not profitable, in its pursuit of social, ethical or environmental goals. A social business seeks to profit from acts that generate social improvement and solves a broader human development purpose. A key attribute of social business is that increased revenue corresponds to an incremental social enhancement. Social enterprise are for more than profit, using blended value, business models that combine revenue generating business with a social value generating structure or component.
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- Fall '19
- Sociology, Corporate social responsibility, social entrepreneurs, Social enterprise