Friday, 01 March 2013 20:14

What is Social Entrepreneurship?

Written by  Center for the Advancement of Social Entrepreneurship at Duke University
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What is Social Entrepreneurship?

so•cial en•tre•pre•neur•ship

n. 1. Recognizing and resourcefully pursuing opportunities to create social value 
2. Crafting innovative approaches to addressing critical social needs

Social entrepreneurship is the process of recognizing and resourcefully pursuing opportunities to create social value. Social entrepreneurs are innovative, resourceful, and results oriented. They draw upon the best thinking in both the business and nonprofit worlds to develop strategies that maximize their social impact. These entrepreneurial leaders operate in all kinds of organizations: large and small; new and old; religious and secular; nonprofit, for-profit, and hybrid. These organizations comprise the "social sector."

What business entrepreneurs are to the economy, social entrepreneurs are to social change. They are the driven, creative individuals who question the status quo, exploit new opportunities, refuse to give up, and remake the world for the better."
--David Bornstein, Author How to Change the World: Social Entrepreneurs and the Power of New Idea

Greg Dees, professor of Social Entrepreneurship at Duke University - The Fuqua School of Business, defines a social entrepreneur as:

Social entrepreneurs play the role of change agents in the social sector, by:

  • Adopting a mission to create and sustain social value (not just private value), 
  • Recognizing and relentlessly pursuing new opportunities to serve that mission, 
  • Engaging in a process of continuous innovation, adaptation, and learning, 
  • Acting boldly without being limited by resources currently in hand, and 
  • Exhibiting heightened accountability to the constituencies served and for the outcomes created.
Read 10990 times Last modified on Monday, 15 April 2013 17:49