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Components of Social Entrepreneurship

CHAPTER 3 SOCIAL ENTREPRENEURSHIP

3.5. Components of Social Entrepreneurship

the concepts of social and traditional entrepreneurship. For instance, social entrepreneurs try to unify the diverse resources of society to get more with fewer resources (Kümbül Güler, 2010:58). On the other hand, in commercial entrepreneurship, innovation is done through discovering new ideas and methods.

When the entrepreneurial process is completed, social entrepreneurs need to determine new objectives and follow new opportunities with an aim to ensure the sustainability of their social enterprise. However, in commercial entrepreneurship, it is not necessary to undertake a new purpose to ensure continuity of business. The way of receiving any feedback constitutes another difference between traditional and social entrepreneurship. In traditional entrepreneurship, entrepreneurs are rewarded by the degree of profit as feedback. But oppositely, social entrepreneurs are rewarded rarely in social entrepreneurship (Dees et al., 2001). In this regard, it can be stated that feedback is uncertain within the border of social entrepreneurship. Furthermore, the return of investment demonstrates the last distinguishing factor between commercial and social entrepreneurs. In this regard, it can be said that social entrepreneurship concludes with a social return while commercial entrepreneurship ends with a financial return (Austin et al., 2006; Braga et al. 2014).

also assessment of opportunities. In this regard, it can be stated that social missions act as a bridge between social problems and social transformations.

Figure 3.7. Components of Social Entrepreneurship

Social vision is another well-known component of social entrepreneurship. More precisely, social vision is a future-based management tool for social entrepreneurs. As declared by Denizalp (2009), social entrepreneurs with a social vision play a crucial role in society in terms of identifying and solving social-based problems. More clearly, social entrepreneurs have a clear vision about the question of “how to achieve progress/development” and they struggle continuously to realize this vision (Özdevecioğlu and Cingöz, 2009). According to Rudd (2000), the development of social vision enables long-term sustainability and competitive advantage for social entrepreneurs in their social ventures. In addition to this, social vision also provides the ability to see the opportunities that are emerged in the social environment (Kırılmaz, 2015). As described by Reyhanoğlu and Akın (2012) social vision comprised of four different variables namely as follows; a) determination to be mediate the change of society, b) determination to address the social need, c) to focus on current social problems, and d) innovative personality traits of social entrepreneurs.

Social venture (also known as; social enterprise) established or created by the valuable efforts of social entrepreneurs to create systematic solutions and achieve sustainable

Social Entrepreneurship

Social Mission

Social Vision

Social Venture Social

Enterprise Social

Innovation Social Economy

social value within the borders of the social environment (Haugh, 2007). In other words, the establishment of social enterprise stands for an innovative response towards social and environmental difficulties that are emerged in society (Defourny and Nyssens, 2007). Social enterprises are known as developed business models set up to tackle social, economic or environmental issues. Through the existence of social ventures or social enterprises, social entrepreneurs discover innovative ways for providing social benefits. As aforementioned, the problems tackled by social ventures cover the range of societal or environmental issues namely as follows; poverty, hunger (starvation), homelessness, unemployment, social exclusion, violence, discriminations, inequalities among society members, human rights, insufficient health care or medical treatment, inadequate educational opportunities, and diverse environmental problems.

To tackle these mentioned complex problems, social ventures are created by independent entrepreneurs as well as companies. The majority of social ventures begin domestically before gradually expanding internationally while others are born global and operate within the borders of various countries (Elkington and Hartigan, 2008;

Zahra et al., 2008).

Social innovation is another well-known element of social entrepreneurship.

Undoubtedly, social innovation act as a crucial role in the entrepreneurial activities of a social entrepreneur’s in terms of finding long-term solutions to the persisting problems of society, eradicating inequality and injustice among the society members, providing employment opportunities, and protecting the environment (Esmer and Korkmaz, 2021). More clearly, social innovation is a process of developing solutions for social, economic, and environmental problems and putting them into practice. The purpose of any innovation displays the difference between traditional and social innovation. As aforementioned in the previous part of this dissertation, through social innovation social entrepreneurs aim to create social improvement and renewal instead of economic gain. As summarized by Topsakal and Yüzbaşıoğlu (2017), social innovation is a process that implemented by range of actors and stakeholders to reach the desired systematic change in society. As added by the same scholars; social innovation is triggered by social, economic, and environmental challenges faced by the members of society. More precisely, social innovation is carried out to design, deliver, and also maintain new types of services or methods towards disadvantaged or marginalized segments of society (Datta, 2011). In addition to these, social innovation

not only generates social change but also stretches the resistance to change (Giddens, 1986).

Social economy is the last social entrepreneurship-related topic that is positioned somewhere between for-profit and governmental organizations. In other words, social entrepreneurship is a crucial part of the social economy (Kazmi et al., 2016). More clearly, social economy refers to economic activities that are run by several organizations which belong to the “third sector”, “voluntary sector”, or “non-profit sector” (Birch and Whittam, 2006; Defourny and Develtere, 2009). According to Cace et al. (2011), social economy acts as an alternative and complementary way of supplying social welfare on the behalf of individuals who are called marginalized and also ignored by society. Last but not least, the social economy stands for whole economic activities that are performed to improve the living conditions of society and empower social cohesion among the members of society (Demirel, 2017).