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Chapter 15

ENT 526 Chapter Notes - Chapter 15: Social Entrepreneurship, Corporate Social Responsibility, Achievement Orientation


Department
Entrepreneurship and Strategy
Course Code
ENT 526
Professor
Sean Wise
Chapter
15

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Chapter 15 – Social Entrepreneurship
Introduction
-Social entrepreneurs will be essential to creating this future by solving complex
problems, both social problems that have economic consequences and economic
problems that have a social impact
oPeople with social and economic goals
The Rise in Social Entrepreneurship
-With the increasing importance and emphasis on social entrepreneurship, it is important
for any aspiring entrepreneur to have a basic understanding of some of the key elements
involved
Social Entrepreneurship Defined
-Social entrepreneurship can be
oProcess based: focus on actions such as value creation, opportunity, recognition,
opportunity exploitation and resource mobilization
oEntrepreneur-centric: focus on describing those that engage in social
entrepreneurship
It is an individual with innovative solutions to society most pressing social
problems
-Corporate Social Responsibility
oReactive process: reacts to the effects of the irganization and business on the
surrounding environment (amount of pollution produced, using energy-saving
products, purchasing fair-trade products
Example: Tim Hortons provides farmers education in coffee farming
-Social Entrepreneurship
oIs a pro-active approach
The entrepreneur and his or her team is centered on making the world a
better place
Example: Kiva.org or G Adventures
A Social Entrepreneurship Typology
-Every entrepreneurial venture has a mission or purpose
oThis purpose or reason for being is to solve a problem and almost always has both
economic and social/environmental dimensions
oThe mission is the guide for strategy, policies and the approach that the firm uses
to reach customers, manage employees and interact in the marketplace
-There are four types of entrepreneurial ventures + hybrid form
1) Traditional venture
Are those that we are most commonly familiar with
Primary mission and outcomes are economic
There main focus ins on maximizing revenues and profits by recognizing
and capturing opportunities in the market
have a traditional economic goal orientation and measures success based
on economic factors such as revenue growth, profitability and ROI
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