Modern Management: concepts and skills, 14/e

Social Entrepreneurship

The discussion of entrepreneurship so far in this appendix has involved individuals or corporations that pursue entrepreneurial opportunities for the purposes of generating sales and profits, which we call commercial entrepreneurship. In recent years, researchers have begun to examine entrepreneurship in a social context. Social entrepreneurship involves the recognition, evaluation, and exploitation of opportunities that create social value as opposed to personal or shareholder wealth.48 In this context, social value refers to the basic, long-standing needs of society and has little to do with profits. Basic, long-standing needs might include providing water, food, and shelter to individuals in need. “Social value” might ...