...Cliff between Business and Social Entrepreneurs Social entrepreneurship is an increasing trend today. On the one hand social entrepreneurs are focusing on financial returns and on the other hand, they are trying to solve social problems or provide social benefits. As the Austrian economist and father of modern entrepreneurship theory Joseph A. Schumpeter indicated, “entrepreneurs are heroic figures uniquely possessing the will to introduce revolutionary ‘new combinations’ that attack the very foundations of existing firms and destroy the prevailing equilibrium;”(Chiles et al 2007, p. 470) this is well acquainted in the society as the “creative destruction”. Social entrepreneurship is using business methods to solve social problems, which creates new business opportunity for the society. However, the financial return from successful social entrepreneurs cannot be compared to prosperous business entrepreneurs due to their different objectives. Analyzing the differences between business entrepreneurs and social entrepreneurs can provide the society the tool to promote social entrepreneurs in order to tackle social problems efficiently. There are three distinguishing core elements between business and social Entrepreneurs: personality, strategy and the intrinsic motivation to start-up a new venture. One of the main differences between business entrepreneurs and social entrepreneurs lays in their personality. According to Bornstein (2004) social entrepreneurs do not need high recognition...
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...Social Entrepreneur Assignment ENT 200-001 Jessamyn Waldman-Rodriguez Jessamyn Waldman-Rodriguez is the founder and CEO of Hot Bread Kitchen, an award-winning social enterprise that hires and trains immigrant women to bake artisanal breads that reflect their countries of origin. Since its inception in 2007, she has lead the growth of the organization from a visionary idea to a thriving bakery and workforce development program with her efforts being recognized by renowned social entrepreneurship organizations including: Echoing Green, which selected her from over 1500 social entrepreneurs; the Eileen Fisher Company that awarded her a Grant for Women Entrepreneurs in 2007, the Hitachi Foundation Yoshiyama Award, and Coro, which presented her with their inaugural Alumni Community Leadership Award. Jessamyn holds a MPA from Columbia University and a BA from the University of British Columbia as well as currently teaches social enterprise and capitalization of hybrid ventures at Columbia School of International and Public Affairs. Before starting Hot Bread Kitchen, she gained 10 years of experience in non-government organizations, government, and the United Nations, focusing on human rights, education, and immigration issues. She worked in many places, including the US, Canada, Mexico, Costa Rica, Bosnia, Guatemala, and Chile. Jessamyn also has a Master Baker certificate from the New School University and was the first woman to be hired as a baker at Chef Daniel Boulud’s...
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...SOCIAL ENTREPRENEURS LACK BUSINESS SKILLS TRAINING, EDUCATION AND SOCIAL INNOVATION By: Marisa Cloete Mini Research Proposal History and Theory of Graphic Design 3 TABLE OF CONTENTS TABLE OF CONTENTS ………………………………………………………………………….....3 LIST OF FIGURES …………………………………………………………………………………..4 APPENDIX…………………………………………………………………………………………….4 GLOSSARY OF TERMS ………………………………………………………………………..…..5 CHAPTER 1: RESEARCH PROBLEM …………………………………………………………...6 1.1 INTRODUCTION ………………………………………………………………………………...6 1.2 STATEMENT OF RESEARCH PROBLEM ……………..……………………………………6 1.3 BACKGROUND OF THE RESEARCH PROBLEM …………….…………..………………,.7 1.4.1 MAIN RESEARCH QUESTION .....................................................................................7 1.4.2 SUB-QUESTION ….....……………………………………………………..………………....7 CHAPTER 2: LITERATURE REVIEW …………………………………………..………………..8 2.1 INTRODUCTION …………………………………………………………….….……………….8 2.2 SOCIAL INNOVATION, SOCIAL ENTREPRENEURS AND THEIR BASIC NEEDS…….8 2.3 SOCIAL ENTREPRENEURS NEED SKILLS AND TRAINING. ……….……..…………….9 2.4 CASE STUDIES: SUCCESFULL SOCIAL ENTREPRENEURS …..……………………..11 2.4.1 LOCAL CASE STUDIES IN RELATION TO DESIGN RESEARCH ……….…….....11 2.4.2 INTERNATIONAL CASE STUDIES IN RELATION TO DESIGN RESEARCH…....12 2.5. CONCLUSION AND RECOMMENDATIONS ……………………..……..……...………..13 CHAPTER 3: RESEARCH DESIGN AND METHODOLOGY …….…………….…………….14 3.1 INTRODUCTION ………………………………………………..…………….……………….14 3.2 QUALITATIVE...
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...Entrepreneurship: is the act of being an entrepreneur, which can be defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods In other to make profit”. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as Start-up Company); however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. When entrepreneurship is describing activities within a firm or large organization it is referred to as intra-preneurship and may include corporate venturing, when large entities spin-off organizations. Who can become an entrepreneur? There is no one definitive profile. Successful entrepreneurs come in various ages, income levels, gender, and race. They differ in education and experience. But research indicates that most successful entrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility, leadership, passion, self-confidence, and “smarts.”Creativity is the spark that drives the development of new products or services or ways to do business. It is the push for innovation and improvement. It is continuous learning, questioning, and thinking outside of prescribed formulas. Types of entrepreneurs Social entrepreneur: A social entrepreneur is motivated by a desire to...
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...will you adopt for your venture? According to Krueger (2005) entrepreneurs are those who seeking opportunities based on economic value only but also have to think about social and environmental dimensions. As the society mature, customers demand more than just the products or services, but the impact to the social and environmental. Krueger (2005) argue that consumers as we look as an organisation members channelled their intention to consume through their environment and this intention will be converted action. As an entrepreneur we can convert this environmental and social impact issue to opportunities. We like the idea of sustainable entrepreneurship can be seen as the process of sustaining a level of entrepreneurial development as to create a paradigm shift in economic activity such that national GDP, job growth, capital investment, technology advancement, and quality of life is unmatched, unsurpassed and unequalled. In my venture, sustainability values that I will adopt is social entrepreneur, as I try to match my value as philanthropist and giving back to the society is the image and branding of my ventures. As an entrepreneurship centre among the agenda is to train new and existing entrepreneur by using all knowledge that the expertise in this centre have. Our intention is to create knowledgeable entrepreneurs that have alertness on global issues. This is because traditional or conventional entrepreneurs only see the dollar and cents as the bottom line of every business...
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...“Entrepreneurs are born not made.” Critically analyse this statement with reference to the literature and to your experience of entrepreneurship. This essay aims to evaluate the various traits identified with entrepreneurs, and then establish whether entrepreneurs are born with these traits, or whether, they are shaped and developed through their life experiences. Put simply the purpose of this essay is to establish whether entrepreneurs are ‘born or made’. This essay focuses on two distinct schools of researchers in the field of entrepreneurship: The more traditional group of researchers has focused on the personality characteristics of the individual, the internal factors, whilst a second group of researchers have taken a social cognitive approach. They look at the relationship between an individual and his or her environment. The external factors include culture, role models, work experience, education, and environment. This essay looks at the early definitions of an entrepreneur, evaluates the literature which supports the theory that entrepreneurs are ‘born’, and also evaluates the proposal that there is a relationship between the individual entrepreneur and their social environment, that is, entrepreneurs are ‘made’. Cantillon (1756) defined the entrepreneur as engaging in business without an assurance of profits; thus the bearing of risk being the distinguishing feature of an entrepreneur. Jean Baptiste Say expanded on this by making the entrepreneur the pivot of the...
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...P A R T 1 Venture Opportunity, Concept, and Strategy Entrepreneurs have important roles in creating new businesses that fuel progress in societies worldwide. The entrepreneur uses innovation and technology to foster positive impact and activity in all facets of life. The capable entrepreneur learns to identify, select, describe, and communicate the essence of an opportunity that has attractive potential to become a successful venture. The entrepreneur is able to describe the valuable contributions of a venture and create the design of a business model that can be sustained by a competitive advantage. The venture team creates a road map (strategy) that can, with good chance, effectively lead to the commercialization of the new prod-uct or service in the marketplace with a sustainable competitive advantage. ■ C H A P T E R 1 Economic Growth and the Technology Entrepreneur There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction. John F. Kennedy |||||What drives global entrepreneurship?|| |C H A P T E R O U T L I N E|||| ||||| |||||ntrepreneurs strive to make a difference in|| 1.1|The Entrepreneur’s Challenge|||| 1.2|The Entrepreneur||our world and to contribute to its better-|| ||Ement. They identify opportunities, mobi-|| 1.3|Economics and the Firm||| |||lize resources, and...
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...------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Date: 07.11.2015 Maria Nicoleta Guțui ------------------------------------------------- Chapter 1 ------------------------------------------------- Enterprise Chapter explains: * What the term ‘’ Enterprise’’ means and the important contribution it makes to the development of a growing economy. * Considers motives for becoming an ‘’Entrepreneur’’ * The Characteristics of an entrepreneur and their importance of their role in establishing new business * The importance of risk and rewards (E.g profit is examined and opportunity cost is explained). * Government and other support explained for enterprise and entrepreneurs. Enterprise and Entrepreneurs Enterprise is an important concept that is being actively promoted by the UK government (VIA its support for start-up businesses and its curriculum requirements in schools) Key Terms: * Enterprise-Any business and/or organization can...
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...An entrepreneur is more susceptible to the use decision making biases and heuristics than are managers in large organizations (Schade, 2007). To understand why entrepreneurs and managers in large organizations may vary in the extent to which they manifest biases and heuristics in their decision making, it is important to understand the utility of nonrational decision making (Schade, 2007). Under conditions of environmental uncertainty and complexity, biases and heuristics can be an effective and efficient guide to decision making (Schade, 2007). In such settings, more comprehensive and cautious decision making is not possible, and biases and heuristics may provide an effective way to approximate the appropriate decisions (Schade, 2007). The use of heuristics has also been found to be associated with innovativeness (Schade, 2007). Perhaps a critical difference between these sets of individuals is the extent to which they manifest biases and heuristics in their decision making (Schade, 2007). There are several traits and demographic factors, enduring support was found for the way entrepreneurs make decisions (Schade, 2007). We speculate that without the use of biases and heuristics, many entrepreneurial decisions would never be made (Schade, 2007). With entrepreneurial ventures in particular, the window of opportunity would often be gone by the time all the necessary information became available for more rational decision making (Schade, 2007).Additionally, successfully starting...
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...Introduction A woman entrepreneur is defined as a woman who has alone or with one or more partners started or inherited a business, and is eager to take financial, administrative, and social risks and responsibilities, and participate in the day-to-day management activities (UNDP, 2004). Women in Asian countries like India, Myanmar and Bangladesh have played and also are playing a good role in politics. So, Bangladeshi women are enjoying freedom to join politics as well as business. But compared with the Unites States and the European countries, the number is still poor. In fact, women entrepreneurship development is a challenging phenomenon in Bangladesh as women are lagged behind (economically and socially) compared to men. Generally, women are more victimized as because of their illiteracy, unawareness, unorganized, powerless or less political representation, deprivation, rigid social customs, religious constrains and injustice by their counter partners particularly in rural area. Women constitute about a half of the total population in Bangladesh. So for proper representation of women in the arena of entrepreneurship development, "women should constitute 50 per cent of the country's total entrepreneurs." But the ground reality is totally different. "The ratio is not even 10 per cent. The actual ratio is much lower than that. We do not know the exact number of women entrepreneurs in the country,” There is no real information on how many women entrepreneurs exist in the country...
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...Three Types of Entrepreneurs The Social Entrepreneur is motivated to transform the world into a better place to live. He/she does not accept status quo and seeks to actively improve environmental, educational, social and economic conditions. Rather than being driven by the desire for profits, social entrepreneurs are usually aimed at improving the quality of goods and services while contributing back to the community and society. The Serial Entrepreneur continuously comes up with new ideas and starts new businesses. He/she can easily duplicate his/her previous successful business model, or follow his/her experience to realize a new idea. Serial entrepreneurs are willing to take risks in new fields and are likely to experience repeat entrepreneurial success. The Lifestyle Entrepreneur combines their interests and expertise into a business model that allows them to make a living. Unlike other entrepreneurs who grow their businesses and aim for high return upon exiting or selling their business, lifestyle entrepreneurs are truly passionate about their professions and choose a business model that can sustain long-term development. They place their passion before profits, integrate their interests into their business and possess high expertise to yield breakthroughs in their respective fields. If I were an entrepreneur, I would most likely emulate the “Lifestyle Entrepreneur”. I feel like when you love what you do and you are passionate about it, then success will definitely come...
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...INTRO Entrepreneurship is the “process of creating something different with value by devoting the necessary time and effort, assuming the accompanying financial and social risks, and receiving the resulting rewards or monetary and (/or) personal satisfaction” (Hisrich, 1990). This definition is sufficiently broad encompassing the many paths an entrepreneur may take, be it Schumpeterian profit maximisation or the social entrepreneurial desire to create social wealth (Zahra, 2009). The aim of this essay is to analyse some of the personal traits academics believe to be common to established entrepreneurs, in turn discussing how these strengths and weaknesses are applicable to myself. STRENGTH 1: “Innovativeness with the ability to combine resources effectively” Kirzner’s (2008) view of the entrepreneur is that they are “not creators, merely alert” to opportunities which arise around them. This somewhat contradicts the Schumpeter (ian) (1961) ideology that the entrepreneur is a “heroic… daring… captain of industry”. Forming a hybrid between these views, Casson (1982), states that the “entrepreneurs task (is) to discover and exploit opportunities… where products or services can be sold at a greater cost than their cost of production”. Combining the views of Kirzner and Casson describes the entrepreneur as someone who can spot a solution to a problem by using an existing product in a different application to that which it was originally designed. During my studies of engineering...
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...Running head: Entrepreneurial Leadership Entrepreneurial Leadership Heather Tanenbaum Alicia Luna BUS508116VA016-1118-001 October 23, 2011 Abstract Today’s entrepreneurs can learn how to profit and be social responsibility by studying the leading entrepreneurs of the past. In this paper we will learn Thomas Edison’s and Blake Mycoskie’s leadership style, and major business principles for a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit. Also their major business principles for a social-responsibility oriented entrepreneurial approach in which the primary is goal to make a positive impact on society (people, families, ecology, or similar) while providing a product or service to consumers and to make a profit. This paper will also show what three resources or tools available through the Small Business Administration and SCORE would be the most useful. Profit-oriented entrepreneurial Thomas Edison is well known for three main inventions. Those being the light bulb, the phonograph, and the X-ray but the invention he profited from you may have never even heard about. In 1874, Edison invented the quadruplex telegraph, which allowed the transmission of two signals in each direction down one wire. He sold this invention to Western Union for the sum of $10,000 which was a large sum at that time. He used this money to create a work space to work on his other inventions...
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...eastern countries. They are facing with the social problems, for instance, poverty, health care, and education which they have to deal with. So business entrepreneur and social entrepreneur may want to play an important role in order to develop what it is best for the nation. In this essay, I will discuss the terms of business and social entrepreneur, and discuss the relevant topics consecutively. An entrepreneur is a person who has creative thinking and able to sacrifice in order to gain the profit (Baumol et al., 2009). These are the goals of the individuals who want to start up their own enterprise either becoming business entrepreneur or social entrepreneur. So what are the differences between these two terms? A business entrepreneur, according to Ian A Davis - a senior lecturer in marketing, focuses on profit motive. They tend to venture and take risk as the business changes. Also gaining benefit is their utmost goal of this business. On the other hand, a social entrepreneur emphasizes on social motive. These individuals are willing to contribute themselves to make the “social transformation”. But can an entrepreneur combine both economic system and social factors together? There are lots of questions and criticizes whether business entrepreneur or social entrepreneur can give satisfying results in solving the business crisis. Some people believe that it’s business entrepreneur, while others insist that it’s social entrepreneur. However, there are some groups of people...
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...Introduction a. b. The Continuing and Evolving Research on Entrepreneurs The Importance of Successful Entrepreneurship Today and Tomorrow 3 4 4 5 2. Literature Review a. Introduction i. Definition of Entrepreneurs Previous Areas of Entrepreneurship Research i. Personality Traits • Motivation • Risk Propensity and Uncertainty ii. Cognition • Intention and Opportunity Seeking • Innovation iii. Population Ecology c. Topic for this Study/Theoretical Framework i. The Broad Research Problem 5 5 7 9 9 10 10 10 11 12 13 13 13 14 14 15 16 16 16 16 18 18 19 22 24 27 27 29 30 b. 3. Hypothesis for Research a. Hypothesis Statements 4. Methodology 5. Analysis of Survey Data a. b. Data Compilation Analysis & Findings i. Background Data of Respondents ii. Findings 1. 2. 3. 4. 5. Cognition in Basic Business Areas Do Emotions Figure? Preferences for Source of Funds Preferences in Knowledge Acquisition More Specific Business Aspects i. Holding Company Together ii. Growth Factors iii. Continual Growth . HELP University College, 28 October 2009 Page 1 of 43 Entrepreneurship Research, April 2008 KC Lim 6. Limitations 7. Recommendations 8. Conclusion 9. Appendix 10. References 32 32 33 35 36 . HELP University College, 28 October 2009 Page 2 of 43 Entrepreneurship Research, April 2008 KC Lim Abstract This paper presents the findings of a general opinion survey on successful small entrepreneurs in Malaysia and some of the factors (both psychological and...
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