The Term Social Entrepreneurship Has Been Around Since The 9

The Termsocial Entrepreneurshiphas Been Around Since The 90s So It I

The term social entrepreneurship has been around since the 1990s, representing a relatively recent development in the landscape of organizational initiatives aimed at addressing social problems through innovative and sustainable business models. Social entrepreneurship refers to the practice of identifying social issues and deploying entrepreneurial principles, such as innovation, resourcefulness, and scalability, to develop solutions that create social value. Unlike traditional business models that primarily focus on profit maximization, social entrepreneurship emphasizes social impact as its core objective.

Social entrepreneurs differ from traditional entrepreneurs in their primary intent: while entrepreneurs generally seek economic gain, social entrepreneurs aim at effecting positive change in societal conditions. This approach involves developing ventures that are financially sustainable yet prioritize social benefits over profits. For example, Sanjit “Bunker” Roy’s Barefoot College has empowered illiterate women from impoverished villages by providing technical training and opportunities to become professionals like doctors, engineers, and architects, which exemplifies how social ventures can transform marginalized communities.

In comparison to effective strategic management, social entrepreneurship integrates a strategic orientation with a social mission. Strategic management involves formulating, implementing, and evaluating organizational strategies to achieve goals efficiently. Social entrepreneurship, however, extends this focus to include social impact metrics alongside financial performance. While strategic management prioritizes efficiency and competitive advantage, social entrepreneurship prioritizes social value creation, often necessitating innovative approaches to resource mobilization and stakeholder engagement.

Historically, I have tended to align more with the social innovation school, which emphasizes creating novel solutions to social problems often through new ideas, products, or services. I believed that the key to social betterment lay in innovative thinking focused on specific issues. However, after engaging with this week’s learning resources, my perspective has broadened to appreciate the systemic approach of social entrepreneurship. These resources have highlighted how social ventures not only innovate but also operate within sustainable models that ensure long-term impact. For example, Martin and Osberg (2015) articulate that social entrepreneurship combines innovation with sustainability, illustrating how ventures can maintain social impact over time.

The readings by Renz (2010) and Stecker (2014) reinforced the notion that social entrepreneurship is a powerful mechanism for transforming the nonprofit sector into more sustainable and impactful entities. Renz emphasizes that social entrepreneurs harness resources creatively, blending nonprofit and commercial strategies to scale their social impact. Similarly, Stevens et al. (2015) explore how measuring social and economic dimensions enhances the effectiveness of social enterprises, ensuring they maintain their dual mission of social impact and financial viability.

This expanded understanding underscores that social entrepreneurship is not solely about innovation or business acumen but also involves a strategic approach rooted in social mission clarity, stakeholder collaboration, and adaptable models for scale. As such, my perspective now embraces the view that social entrepreneurship is a dynamic field requiring both innovative thinking and strategic management skills to achieve sustainable social change.

References

• Martin, R. L., & Osberg, S. R. (2015). Two keys to sustainable social enterprise. Harvard Business Review, 93(5), 86–94.
• Renz, D. (Ed.). (2010). The Jossey-Bass handbook of nonprofit leadership and management (3rd ed.). San Francisco, CA: Jossey-Bass. (Chapter 10 and 20)
• Stevens, R., Moray, N., & Bruneel, J. (2015). The social and economic mission of social enterprises: Dimensions, measurement, validation, and relation. Entrepreneurship: Theory & Practice, 39(5), 1051–1082.
• Stecker, M. J. (2014). Revolutionizing the nonprofit sector through social entrepreneurship. Journal of Economic Issues, 48(2), 349–358.
• Sanjit Roy. (n.d.). Barefoot College: Empowering women through education. Retrieved from [source]
• Horrigan, B., & Leser, K. (2014). The rise of social entrepreneurship. Stanford Social Innovation Review.
• Bornstein, D., & Davis, S. (2010). Social entrepreneurship: What everyone needs to know. Oxford University Press.
• Leadbeater, C. (1997). The idea of social entrepreneurship. London: Demos.
• Mair, J., & Marti, I. (2006). Social entrepreneurship research: A source of explanation, prediction, and delight. Journal of World Business, 41(1), 36–44.
• Yunus, M. (2007). Creating a World Without Poverty: Social Business and the Future of Capitalism. Public Affairs.