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Year: 2019
Published in: SSRN Electronic Journal
Cited as: Mthembu, Anele and Brian Barnard. “Social Entrepreneurship: Objectives, Innovation, Implementation and Impact on Entrepreneurship.” Development Economics: Macroeconomic Issues in Developing Economies eJournal (2019): n. pag.

Abstract

The study examines social entrepreneurship from the perspective of: objective and philosophy (why social entrepreneurs are social entrepreneurs), opportunity identification (how social entrepreneurs recognise opportunities), implementation (how social entrepreneurship is implemented), and social entrepreneurship’ s contribution to entrepreneurship. The dual objective (some profit, social impact), and strong focus on social impact of the social entrepreneur are highlighted. Although certainly possible, opportunities are encountered and experienced, and thus recognised, rather than actively sought. There are both strong similarities and differences between social entrepreneurship and entrepreneurship opportunities. Innovation is as much a component of social entrepreneurship. Also, the proactiveness and innovativeness of social entrepreneurship are important aspects and concepts. Social entrepreneurship can also be radical and disruptive. Implementation of social entrepreneurship entails both the micro- and macro-level. Both the individual implementation of social entrepreneurship, and the overall extent and sophistication of social entrepreneurship opportunities and practice at a broader level, are relevant. Sustainability is a very important consideration for the social entrepreneur. Emphasis has shifted to self-sufficiency and financial sustainability. There are marked similarities between start-up for the social entrepreneur, and the entrepreneur, particularly given that social enterprises are run as businesses just as much. The various contributions of social entrepreneurship to entrepreneurship are highlighted. It is evident that social entrepreneurship and entrepreneurship can be compared on several grounds, including the level of risk and the level of difficulty.

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Future Research

1) The impact of social entrepreneurship on economic development, particularly through personal development and social upliftment.Research can consider the degree and factors of success, as well as best practices in this regard.
2) how social entrepreneurs teach and instruct entrepreneurs and entrepreneurship. In particular, how social entrepreneurs and social entrepreneurship assert and advocate the aspirant entrepreneur should get off the ground, given social entrepreneurs’ core competency of starting enterprises with very little resources.
3) how social entrepreneurs teach and instruct entrepreneurs and entrepreneurship. In particular, how social entrepreneurs and social entrepreneurship assert and advocate the aspirant entrepreneur should get off the ground, given social entrepreneurs’ core competency of starting enterprises with very little resources.
4)The commercialization of social entrepreneurship innovation.
5)The resourcefulness of social entrepreneurs: As already mentioned, social entrepreneurs generally possess a core competency of starting enterprises with very little resources.
6) Social impact, social responsibility, and competitive advantage: how organizations build and can build competitive advantage around social impact and social responsibility.
7) Social impact measurement. Enhancing social impact measurement.
8) Disruptive and radical social entrepreneurship: Further considering disruptive and radical social entrepreneurship as constructs, and the antecedents and factors thereof.
9) (National) social entrepreneurship (development) metrics: A measure of an organization’s or country’s development, maturity and competency, in terms of social entrepreneurship.
10) Government, corporations, and social entrepreneurship: government and corporate social entrepreneurship policy, programs, and implementation.
11) Social multipliers, as it relates to social entrepreneurship work, social impact, and economic multipliers.
12) The sophistication of entrepreneurs’ social awareness and perspective, and the impact thereof on opportunities and opportunity recognition.