It has to be financially sustainable. Entrepreneurship and social entrepreneurship also maintain employment opportunities. A social enterprise also facilitates employment for disadvantaged groups. There are niche opportunities for social entrepreneurs which are not suitable for entrepreneurs. Social initiatives represent a concept for the access to services for disadvantaged groups and protection for the environment.
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Current fiscal regulations dissuade social enterprises. The tax regulations make it harder to operate social actions. On account of this, the maintenance of nonprofit economical enterprises is risky, while they are treated the same as commercial enterprises.
The entrepreneurs emphasize innovation and creativity. They seek new ways to define existing needs. Social entrepreneurs are those who take responsibility and risk for civil society needs. The authors Say, Schumpeter, Drucker, and Stevenson have important contributions to the issue of the entrepreneurship. The social entrepreneurs challenge some unique problems [ 11 ]. Business entrepreneurs tend to focus on new needs, while social entrepreneurs tend to focus on existing environmental and social problems more effectively on long-term goals through new approaches.
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Social entrepreneurs are those who take responsibility for civil society needs. While traditional entrepreneurs take risks on behalf of shareholders, social entrepreneurs take risks on behalf of stakeholders. The objectives of social entrepreneurs differ from those of business entrepreneurs. The social entrepreneurs are motivated in different ways than commercial entrepreneurs. The entrepreneurs and social entrepreneurs face similar problems such as establishing and institutionalizing their enterprises.
Social entrepreneurs can also experience problems such as defining opportunities and needs, planning, support, obtaining information and resources, creating marketing and demand, and creating organizational structure. Since social entrepreneurs have different motivation and aim from commercial entrepreneurs, they differentiate from commercial entrepreneurs in the way of leadership style also.
The leader focuses on change and processes, is a part of the group, and controls group structure and processes. Another proposal is that the two entrepreneurial types will have different requirements, especially in terms of access to financial markets and risk capital.
Finally, in terms of performance management, it has been emphasized that commercial entrepreneurs can develop and use concrete and quantitative metrics more easily and that social entrepreneurship is a front line for nonmaterial elements and therefore more difficult to measure. The social value opportunity in social entrepreneurship arises at the intersection of human resources and financial resources. Social entrepreneurs must have the ability to bring these internal resources together in an external context. The components of social entrepreneurship are to produce social value, being innovative, and creating resources and sustainability.
The social organization mentioned at this point can be a new constitution, or it emerges in the form of joint projects of the existing social institutions in order to increase the scope of influence [ 7 ]. Social enterprises are separated from ethical or socially responsible companies precisely at this point. In contrast to companies, the measure of success in social enterprises is not the profits that are achieved, but the positive impact created on society.
Another point that distinguishes social enterprises from these companies is that they should be accountable not to their shareholders but to the communities they serve [ 28 ]. It is suggested by Schwab Foundation for Social Entrepreneurship to establish a board for managing the social enterprises effectively. The corporate governance assures the credibility, complies with social values, and presents the enterprise responsibilities against stakeholders [ 2 ].
Another study presents scale of four dimensions about the measurement of social entrepreneurship orientation with a two-stage design with Delphi study. It indicates the combination of entrepreneurship and social entrepreneurship aspects together [ 24 ]. As a result of the case studies, it is understood that the predetermined dimensions of social entrepreneurship are examined extensively.
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The researches have focused on conceptualizing and not developing a mass-interaction measurement tool that SCALERS gave to name their social entrepreneurship. In traditional entrepreneurial countries, meaningful interventional activities tend to have more social entrepreneurial activities [ 3 ]. Social entrepreneurship is built and works for a social purpose. The profits are used for social purposes [ 10 ]. The difficulty of the performance measurement conducts the social investor to quest for the control and monitor. The main antecedents of the measurement are figured as inputs, which are resources put directly into the venture e.
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After the comparison of the desired outcomes with internal output, measures can show an accomplishment [ 30 ]. The social value rise with the leakage reduction is assumed. The policy aims the effectiveness and economic multiplier [ 11 ]. Most of the movements can be seen as small and extent worldwide, but they are interconnected and mutually strengthening each other.
When all these things are taken together, it means more than the sum of their components. There is a synergy of these movements. Through social missions and entrepreneurial approaches, all social enterprises create and disseminate social, economic, and environmental values. Thus, social enterprises are emerging as entrepreneurial or free market-based organizations in solving social problems.
There are many definitions of social entrepreneurship. Social enterprises aim social impact. Social entrepreneurship involves corporate initiatives that invest in individual, or in the form of the profit generated by a new entity, which is planned to be opened by the individual, within the framework of social objectives [ 7 ]. According to the definition of GEM, the economic expectations of social entrepreneurship projects are determined according to the costs of the strategies to be implemented. Corporate social project practices, which have become an important part of corporate strategies, have made it possible to achieve common achievements within this understanding.
The first proposition here is that market failure creates different opportunities for social and business entrepreneurs. The second factor is that the understanding of economic success and social value creation differs between the two concepts. Social entrepreneurs are individuals who realize social transformation in an innovative way. The social entrepreneurs also aim innovation in a new product, a new service, or a new method like entrepreneurs. Social entrepreneurs transform the society in economic and social ways.
They may be in the form of cooperative or hybrid models, legally organized as nonprofit-making institutions. Although social initiatives are not yet defined as separate entities in most countries, there are some steps taken in this direction [ 7 ]. Benefit corporation BC is another definition according to United States law, which describes a new legal for-profit business entity.
It contains the responsibility to return profits to shareholders [ 33 ]. The aims of projects that are realized by companies and social organizations are based on three themes.
First, identifying the social, cultural, and environmental objectives that are deployed as the basis of the project, second prioritizing the social objectives identified during the project, and third going for profit for the purpose of ensuring the continuation of project implementation. Social entrepreneur targets to find solutions for the environment, the youth, and various socioeconomic indexed social problem areas. It accentuates that providing employment and income-generating activities for religious, ethnic, economically marginalized groups emphasize the self-sufficiency of individuals.
They aim to increase their visibility within the community they live in and to reduce their commitment to social safety nets in a rational way. The access in long-term capital and the lack of strategic planning, especially in developing countries, constitute the biggest obstacle in front of entrepreneurs. The talent, money, and interest in social enterprises around the world are increasing recently.
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