Entrepreneurship is of many types depending on the major objective of the investor. The social entrepreneur is a very important person in the development of the society as a whole in general terms. They are the drivers of innovation and progress. In the realm of business, they are seen as the initiators of growth which in turn brings about a variety of innovations and opportunity to cause economic advancement within their communities and even beyond.
Funding has, without a doubt, been a major problem. Even though they may be intended to run as non-profit organizations, they still need funds to meet their day to day needs. To keep themselves in business, some are able to generate some income from the sale of socially valuable goods and services. Other sources of income may include corporate investments, donations and government funding. As these entrepreneurs soon find out, it is not always easy to approach investors as many fear that they may not recoup their investments being that these enterprises mainly focus societal value rather than profit generation.
Many people who decide to get into entrepreneurship often venture into new areas with the intention of making profits. However, those who chose the path of social enterprises are socially responsible, and are obliged to contribute to the well-being of the society in which they operate. They usually make it a primary goal to ensure they impact the society positively and the profit making part is always secondary.
Other major characteristics are that the individuals involved are usually passionate and determined about what they do. They possess a high sense of motivation, intrinsic or extrinsic, and are visionaries who have the aim of bringing change. In essence, the this kind of entrepreneur can be termed as a persons recruiter, who presents their ideas or solutions, in a manner that the people, who could be a part of the problem, get to see the need for a change and join the entrepreneur in attempts to achieve it.
The entrepreneur aims to deliver more than just commercial value, but also social value. This is what in most cases is responsible for the passion of their passion. However, these social values cannot be easily measured and hence make it difficult to communicate to donors, investors and the community at large.
Entrepreneurs in this category are always looking for opportunities to advance their mission, whether social or environmental. Through this, they are able to better the lives of their target beneficiaries. It is not unusual for the investors to collaborate with governments and nongovernmental organizations who share their vision of improving service delivery.
Despite the fact that this form of entrepreneurship is meant to address social needs, the entrepreneur should not ignore the factor of funding or profits. They should put in mind that they need a clear vision, a plan and enough funding, to see to it that the kind of vision they have can be seen through.
The entrepreneurs also have the role of promoting the development of entrepreneurial skills among the societal members. It can therefore be seen that they have roles of very significant influence to the economy and also the society well-being. It is always of vital importance, as seen above that efforts made by the entrepreneurs be supported to see to their success.
Funding has, without a doubt, been a major problem. Even though they may be intended to run as non-profit organizations, they still need funds to meet their day to day needs. To keep themselves in business, some are able to generate some income from the sale of socially valuable goods and services. Other sources of income may include corporate investments, donations and government funding. As these entrepreneurs soon find out, it is not always easy to approach investors as many fear that they may not recoup their investments being that these enterprises mainly focus societal value rather than profit generation.
Many people who decide to get into entrepreneurship often venture into new areas with the intention of making profits. However, those who chose the path of social enterprises are socially responsible, and are obliged to contribute to the well-being of the society in which they operate. They usually make it a primary goal to ensure they impact the society positively and the profit making part is always secondary.
Other major characteristics are that the individuals involved are usually passionate and determined about what they do. They possess a high sense of motivation, intrinsic or extrinsic, and are visionaries who have the aim of bringing change. In essence, the this kind of entrepreneur can be termed as a persons recruiter, who presents their ideas or solutions, in a manner that the people, who could be a part of the problem, get to see the need for a change and join the entrepreneur in attempts to achieve it.
The entrepreneur aims to deliver more than just commercial value, but also social value. This is what in most cases is responsible for the passion of their passion. However, these social values cannot be easily measured and hence make it difficult to communicate to donors, investors and the community at large.
Entrepreneurs in this category are always looking for opportunities to advance their mission, whether social or environmental. Through this, they are able to better the lives of their target beneficiaries. It is not unusual for the investors to collaborate with governments and nongovernmental organizations who share their vision of improving service delivery.
Despite the fact that this form of entrepreneurship is meant to address social needs, the entrepreneur should not ignore the factor of funding or profits. They should put in mind that they need a clear vision, a plan and enough funding, to see to it that the kind of vision they have can be seen through.
The entrepreneurs also have the role of promoting the development of entrepreneurial skills among the societal members. It can therefore be seen that they have roles of very significant influence to the economy and also the society well-being. It is always of vital importance, as seen above that efforts made by the entrepreneurs be supported to see to their success.
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