Learning Objectives

4-1: Describe what role social entrepreneurship plays in society.

Social entrepreneurship is the process of sourcing innovative solutions to social and environmental problems. While many companies strive simply to maximize shareholder value, social entrepreneurs are often more committed to causes centered on preserving and protecting future generations.

4-2: Explain how social entrepreneurship can help resolve wicked problems around the world.

Social entrepreneurship can help resolve wicked problems such as those related to water shortages, education, health care, poverty, energy, forced migration, and global warming by creating innovative solutions that make a real impact on the lives and livelihoods of others.

4-3: Identify the different types of social entrepreneurship.

There are three primary types of social entrepreneurship: social purpose ventures, social consequence entrepreneurship, and enterprising nonprofits.

4-4: Explain how social entrepreneurs can use capital markets to fund their ventures.

Social entrepreneurs can seek funding from Social Venture Capitalists (SVC) and community-funded venture capital to support operations. Microlending is another source of capital available for social entrepreneurs.

4-5: Identify the primary attributes of stakeholders and how stakeholders can help or hinder a social entrepreneur.

Stakeholders are all those involved in and affected by the activities of a social venture. Building relationships with key stakeholders is typically important for any entrepreneur, social or otherwise; but often social issues need additional support to gain traction with the majority of stakeholders.

4-6: Distinguish between corporate social responsibility and social entrepreneurship.

Corporate social responsibility and social entrepreneurship differ in one critical sense: the primary objective of the enterprise. Corporations seek to incorporate social initiatives into broader strategic and tactical objectives, while social entrepreneurs put those social issues front and center. To many corporations, social responsibility causes may just be another means to a successful business end.

4-7: Assess the value of social inclusion globally within social entrepreneurship.

Social inclusion is meant to directly confront some of the inequity that creates personal marginalization and its resulting social issues head-on. Many individuals will not have some of the same opportunities so common for their peers; many around the world have dedicated their careers to breaking down social issues plaguing society, encouraging inclusion with a heavy dose of hope.