MGTS1301 Lecture 11: Entrepreneurship vs Social Entrepreneurship
Document Summary
Entrepreneurship vs social entrepreneurship: what do we know about entrepreneurs. The individual-opportunity nexus: located in between entrepreneurial trains/individual attributes and opportunities in environments, entrepreneurship. What is entrepreneurship: dynamic, creative, risk-taking behaviour that results in the creation of new opportunities for individuals and/or organisations, process initiated by the entrepreneur. The entrepreneurship process: existence of opportunity, discovery of opportunity, decision to exploit opportunity, resource acquisition, entrepreneurial strategy, organising process, performance. Arranging financing: significant amount of money needed. Investment is usually required to acquire labour, raw materials, building and equipment: two options, debt financing (loans, equity financing (share ownership, bootstrapping is also an option. It provides clear and detailed information on: the vision: a document specifying the business details as preparation for opening a new business. What is social entrepreneurship: social entrepreneurs run social enterprises that are driven by community needs rather than profit.
