Social Entrepreneurship Mid-Term
Social Entrepreneurship ️Application of the mindset, processes, tools, and techniques of business
entrepreneurship in the pursuit of a social and/or environmental mission
OR Process of identifying problem & solution, evaluating social impact, business model ...
Social Entrepreneurship Mid-Term
Social Entrepreneurship ✔️Application of the mindset, processes, tools, and techniques of business
entrepreneurship in the pursuit of a social and/or environmental mission
OR Process of identifying problem & solution, evaluating social impact, business model and
sustainability, and creating a for-profit/nonprofit that pursues the double bottom line
Failures of private & public sectors ✔️Private - market failures (no "invisible hand" to benefit society)
Public - Inadequate resources, lack of political will, polarization
5 Phenomena that make social entrepreneurship possible ✔️1. Rise of middle class & wealth to finance
social ventures
2. Increase in number of democratic/semi-democratic societies
3. New communications technologies
4. Increased availability of formal education & increased number of college-educated people
5. Removal of obstacles for women & minorities
How Social Entrepreneurship merges private and public sectors ✔️Private - Enterprising spirit, market-
driven
Public - Addresses market failures, puts public interest ahead of private
9 Unique Qualities of Social Entrepreneurship ✔️1. Passionate & personal for entrepreneur: Morally-
based values
2. Not bureaucratic but nimble/adaptive: Seize "window of opportunity"
3. Enables transformation: Not transactional, long-term
4. Builds, maintains, and utilizes social capital: Networks are key, collaborative
5. Mission-focused, not profit-driven
6. Accountable to society: Greater freedom & responsibility
7. Fosters social & environmental innovation
8. Circumnavigates politics: No political wrangling, communication with beneficiaries
,9. Facilitates development through equity & stability
Equity (as quality of Social Entrepreneurship) ✔️Keeps society together through balance
Stability (as quality of Social Entrepreneurship) ✔️Allows businesses to be efficient & effective because
of predictability
Social Entrepreneurship's market niche ✔️Societal problems that neither government nor commercial
business can solve
Fellowship, early-stage support, lifetime membership in network of partners, "Everyone a
Changemaker" movement, four elements of framework (empathy, teamwork, mew leadership,
changemaking) ✔️Ashoka
Nonpartisan educational and policy studies organization based in Washington, DC ✔️Aspen Institute
Fellowship, seed-funding, leadership development, accelerator ✔️Echoing Green
Student organization for social entrepreneurship ✔️Net Impact
Chronicles new market trends in solutions to poverty, associated with University of Michigan ✔️Next
Billion
6 issue areas, Capricorn Investment Group is investment manager, engaged investing ✔️Skoll
Foundation
US-based, Grow Your Network, Share Your Story, Build Your Capacity ✔️Social Enterprise Alliance
E-180 ✔️Website & blog that educates about social entrepreneurship
, Who coined the term "social entrepreneurship"? ✔️Ashoka founder Bill Drayton (1980s)
J. Gregory Dees ✔️First to emission social entrepreneurship as profession/field of study (1990s)
Social ✔️(Socialis: ally/associate) Organization of people into interdependent group that lives and
works together cooperatively; puts society ahead of individual
3 concepts that create perceived division between society & economy ✔️1. Laissez-faire
2. Caveat emptor
3. Safety net
Laissez-faire ✔️Government (embodiment of society) should not interfere with private economic
pursuits
Caveat emptor ✔️"Let the buyer beware", society should protect itself against business practices
Safety net ✔️Government provides for people who fall between economy's cracks
4 characteristics of entrepreneurs ✔️1. Actively seek out opportunities to innovate to add value to the
lives of customers
2. Pursue strategy of growth in order to expand business's market reach & profits
3. Strategic management of enterprises - build network among investors, suppliers, and customers
4. Risk managers, so bear greater risks than most business people
6 Approaches to Social Entrepreneurship ✔️1. Set of practices that may or may not be associated with
an organization
2. Activities of nonprofit that seek more effectiveness by behaving more like entrepreneurial business
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