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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller CertifiedGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
