Argosy University Online Library Resources

Argosy University Online Library Resources And The Following Web Site

Argosy University online library resources, and the following Web sites: The Ashoka Web site: Public Broadcasting Service (PBS): The new heroes. (2005). What is social entrepreneurship. Retrieved from The Skoll Foundation Web site: Respond to the following: What is a social entrepreneur? What are the risks for a social entrepreneur? What are the similarities and differences between social and business entrepreneurship?

Can social entrepreneurship be successful in our capitalistic society? Why or why not? Provide an example of a social entrepreneur in your community. Why do you consider this person a social entrepreneur? Give reasons in support.

Write a 2–3-page paper in Word format. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M1_A3.doc. For example, if your name is John Smith, your document will be named SmithJ_M1_A3.doc. By Week 1, Day 7 , deliver your assignment to the M1: Assignment 3 Dropbox .

Paper For Above instruction

Introduction

Social entrepreneurship has gained significant attention in recent years due to its potential to address social issues while operating within the framework of market economics. As defined by the Skoll Foundation (2009), a social entrepreneur is an individual who develops innovative solutions to pressing social problems, often balancing financial sustainability with social impact. This paper aims to explore the concept of social entrepreneurship by discussing its characteristics, associated risks, similarities and differences with traditional business entrepreneurship, the potential for success within capitalistic societies, and an illustrative example from my community.

What is a social entrepreneur?

A social entrepreneur is a person who identifies social problems and utilizes entrepreneurial principles to create innovative solutions that foster social change (Mair & Marti, 2006). Unlike traditional entrepreneurs whose primary goal is profit, social entrepreneurs prioritize social value creation, often reinvesting profits into furthering their mission. According to the PBS documentary "The New Heroes" (2005), social entrepreneurs act as change-makers, implementing sustainable initiatives that address issues such as poverty, education, and health disparities.

Risks faced by social entrepreneurs

Social entrepreneurs encounter numerous risks that can impede their efforts. Financial risk is paramount, as they often operate with limited resources and rely on grants, donations, or impact investments (Bornstein & Davis, 2010). There is also operational risk, including the challenge of scaling initiatives and maintaining organizational effectiveness. Additionally, social entrepreneurs face societal risks, such as resistance from communities or policymakers skeptical of new approaches. The risk of mission drift, where organizational focus weakens, is another concern, potentially compromising social objectives (Dees, 2001).

Similarities and differences between social and business entrepreneurship

Both social and business entrepreneurs share core entrepreneurial qualities such as innovation, risk-taking, and resilience (Mair et al., 2012). They also employ similar strategies including resource mobilization, stakeholder engagement, and strategic planning. However, their fundamental differences lie in their primary objectives; social entrepreneurs aim for social impact, while business entrepreneurs seek financial profit (Zahra et al., 2009). Financial sustainability is essential for both, but social entrepreneurs reinvest profits to maximize social benefits, often accepting lower financial returns or operating as non-profit entities. Conversely, business entrepreneurs focus on profitability to reward investors.

Potential for success in a capitalistic society

Social entrepreneurship can indeed succeed within a capitalist society, which inherently values innovation and efficiency. Capitalism's emphasis on competition and market-driven solutions can support social ventures that demonstrate sustainability and scalability (Lundström & Svedberg, 2003). Social enterprises that develop products or services with economic value attract investments while fulfilling social missions. For example, microfinance institutions and social enterprises like TOMS Shoes exemplify that profit-making and social impact are compatible. Nevertheless, success hinges on balancing social objectives with financial viability and navigating societal skepticism about the legitimacy or sustainability of social ventures (Certo & Haas, 2004).

Example of a social entrepreneur in my community

In my community, a notable social entrepreneur is Maria Lopez, founder of “Healthy Futures,” a nonprofit organization focused on providing nutritious meals to low-income families. Maria’s initiative addresses food insecurity by collaborating with local farms, schools, and volunteers to distribute healthy food options. I regard her as a social entrepreneur because she identified a critical social issue and leveraged community resources to develop a sustainable solution. Maria’s ability to create awareness, mobilize resources, and deliver tangible social impact exemplifies the qualities outlined by PwC’s (2014) report on social entrepreneurs. Her work has improved health outcomes and fostered community solidarity.

Conclusion

Social entrepreneurship presents a powerful vehicle for social change within and beyond capitalist frameworks. While it involves significant risks, including financial and operational uncertainties, the potential benefits—such as innovative solutions to social problems—are substantial. The similarities with traditional entrepreneurship in terms of innovation and risk-taking underscore the entrepreneurial spirit, yet the distinct focus on social impact distinguishes social entrepreneurs. Examples like Maria Lopez demonstrate that successful social entrepreneurship is not only possible but vital for creating sustainable communities. Embracing and supporting social ventures can lead to societal progress while maintaining economic viability.

References

Bornstein, D., & Davis, S. (2010). Social entrepreneurship: What everyone needs to know. Oxford University Press.

Certo, S., & Haas, A. (2004). Entrepreneurial approaches to social problems: The case of microfinance. Academy of Management Perspectives, 18(2), 26-43.

Dees, J. G. (2001). The meaning of social entrepreneurship. Kauffman Center for Entrepreneurial Leadership.

Lundström, A., & Svedberg, L. (2003). The rise of social entrepreneurship. Venture Capital, 5(2), 141-159.

Mair, J., & Marti, I. (2006). Social entrepreneurship research: A source of explanation, prediction, and delight. Journal of World Business, 41(1), 36-44.

Mair, J., Reisch, B., & Søreide, S. (2012). Toward a Theory of Social Entrepreneurship in Context. Journal of Business Venturing, 27(5), 537-557.

PBS. (2005). The new heroes. [Video documentary].

PwC. (2014). The Social Entrepreneurs: Catalyst of change. PwC Reports.

Zahra, S. A., Gedajlovic, E., Neubaum, D. O., & Shulman, J. M. (2009). A typology of social entrepreneurs: Motives, search processes and ethical challenges. Journal of Business Venturing, 24(5), 519-532