Social Entrepreneurship
HARMAN SINGH
12-13-2013
PROFESSOR: CALDWELL
MGMT 241 PRINCIPLES OF MANAGEMENT
“A DIFFERENT WAY TO GO GLOBAL”
Social Entrepreneurship
Today, we live in a period of time with great challenges. Not only is America’s economy slow, but also the entire global economy remains slow. The world is affected with global warming, population is skyrocketing, and most governments’ are struggling to meet the needs of their citizens especially in the eastern world. Watching the news everyday and seeing all the ‘Financial Crisis” and “Government Shutdowns” we have come to a conclusion that we cannot solely rely on business and government to solve our problems and make our lives better. With technology, innovation, the new fast generation we are in a time of great opportunity. With smart phones, wifi, fiber optics, and Internet we are more connected globally than ever before, making it easier to share ideas and creating disruptive solutions to our current challenges. These so-called "social entrepreneurs" are not traditional "for-profit" entrepreneurs or "not-for-profit" charities. They are instead out to create social value and make communities healthier, safer, more prosperous, and happier places to live.
While pursuing my research I found that although there are many advantages of social entrepreneurship as a way to approach business in developing economies outside the United States, yet there are disadvantages. According to NCOA National Council of Aging a nonprofit service and advocacy organization that improves the lives of all older adults.
The advantages are that social entrepreneurship provides unrestricted earned income, it reduces the reliance on traditional funding sources, it also allows for financial self-sufficiency, and provides a better understanding of community needs. It also offers more freedom to respond to community needs, provides more flexibility in providing existing services, broadens support for your organization. It expands your services to a
12-13-2013
PROFESSOR: CALDWELL
MGMT 241 PRINCIPLES OF MANAGEMENT
“A DIFFERENT WAY TO GO GLOBAL”
Social Entrepreneurship
Today, we live in a period of time with great challenges. Not only is America’s economy slow, but also the entire global economy remains slow. The world is affected with global warming, population is skyrocketing, and most governments’ are struggling to meet the needs of their citizens especially in the eastern world. Watching the news everyday and seeing all the ‘Financial Crisis” and “Government Shutdowns” we have come to a conclusion that we cannot solely rely on business and government to solve our problems and make our lives better. With technology, innovation, the new fast generation we are in a time of great opportunity. With smart phones, wifi, fiber optics, and Internet we are more connected globally than ever before, making it easier to share ideas and creating disruptive solutions to our current challenges. These so-called "social entrepreneurs" are not traditional "for-profit" entrepreneurs or "not-for-profit" charities. They are instead out to create social value and make communities healthier, safer, more prosperous, and happier places to live.
While pursuing my research I found that although there are many advantages of social entrepreneurship as a way to approach business in developing economies outside the United States, yet there are disadvantages. According to NCOA National Council of Aging a nonprofit service and advocacy organization that improves the lives of all older adults.
The advantages are that social entrepreneurship provides unrestricted earned income, it reduces the reliance on traditional funding sources, it also allows for financial self-sufficiency, and provides a better understanding of community needs. It also offers more freedom to respond to community needs, provides more flexibility in providing existing services, broadens support for your organization. It expands your services to a
Citations: 1) Improving the Lives of Older Americans." Improving the Lives of Older Americans. N.p., n.d. Web. 12 Dec. 2013. 2) Diversity and Commerce Home Page." Diversity and Commerce Home Page. N.p., n.d. Web. 12 Dec. 2013. 3) "Skoll Foundation." Skoll Foundation. N.p., n.d. Web. 12 Dec. 2013. 4) Source 9: Social Entrepreneurship - Creating a New Business Venture." Source 9: Social Entrepreneurship - Creating a New Business Venture. N.p., n.d. Web. 12 Dec. 2013. 5) "Stanford Social Innovation Review : Informing and Inspiring Leaders of Social Change." All Entrepreneurship Is Social. N.p., n.d. Web. 12 Dec. 2013.