Entrepreneurship is of many types depending on the major objective of the investor. The social entrepreneur is a very important person in the development of the society as a whole in general terms. They are the drivers of innovation and progress. In the realm of business, they are seen as the initiators of growth which in turn brings about a variety of innovations and opportunity to cause economic advancement within their communities and even beyond.
Starting these enterprises is more than just popularity and obsession with people. Rather, it is rooted upon the desire to bring about societal change. This potential payoff, in combination with the likelihood of making a profit in the process sets them apart from other forms of investment.
Another major problem is that a good proportion of the enterprises fail to remain loyal to their mission. Establishment of a good strategy for the enterprise helps a great deal in dealing with this challenge. One of the major reasons for this is unexpected changes in the initial mission resulting in confusion and dilution of the impact of the organization.
Other major characteristics are that the individuals involved are usually passionate and determined about what they do. They possess a high sense of motivation, intrinsic or extrinsic, and are visionaries who have the aim of bringing change. In essence, the this kind of entrepreneur can be termed as a persons recruiter, who presents their ideas or solutions, in a manner that the people, who could be a part of the problem, get to see the need for a change and join the entrepreneur in attempts to achieve it.
Entrepreneurs also engage in the process of continuous innovations, adaptations and learning. In this manner, the society is at the advantage of benefiting from such innovations. The main limitation may be the fact the room for innovation is a bit restricted due to limited funding. Innovation is at times risky and may culminate in losses. This makes it difficult for a good number of social enterprises to exploit their full potential.
For the ventures that are to be involved in production of goods, locating the right manufacturers is more often than not, quite difficult. Faced by the entrepreneurs as they bargain their hunt to find the most affordable one in accordance to their financial capabilities. However coming up with the cash to meet the minimum order is usually a problem to the entrepreneurs.
The structure of these kind of ventures is such that it does not promote innovation and risk taking. More specifically, this form of investment is likely to suffer from financial constraints thus many prospective investors find themselves with limited room for risk taking. As is the case for every other sector, there is a need to encourage experimentation and risk taking without which the likelihood of failure is increased many times over.
The entrepreneurs also have the role of promoting the development of entrepreneurial skills among the societal members. It can therefore be seen that they have roles of very significant influence to the economy and also the society well-being. It is always of vital importance, as seen above that efforts made by the entrepreneurs be supported to see to their success.
Starting these enterprises is more than just popularity and obsession with people. Rather, it is rooted upon the desire to bring about societal change. This potential payoff, in combination with the likelihood of making a profit in the process sets them apart from other forms of investment.
Another major problem is that a good proportion of the enterprises fail to remain loyal to their mission. Establishment of a good strategy for the enterprise helps a great deal in dealing with this challenge. One of the major reasons for this is unexpected changes in the initial mission resulting in confusion and dilution of the impact of the organization.
Other major characteristics are that the individuals involved are usually passionate and determined about what they do. They possess a high sense of motivation, intrinsic or extrinsic, and are visionaries who have the aim of bringing change. In essence, the this kind of entrepreneur can be termed as a persons recruiter, who presents their ideas or solutions, in a manner that the people, who could be a part of the problem, get to see the need for a change and join the entrepreneur in attempts to achieve it.
Entrepreneurs also engage in the process of continuous innovations, adaptations and learning. In this manner, the society is at the advantage of benefiting from such innovations. The main limitation may be the fact the room for innovation is a bit restricted due to limited funding. Innovation is at times risky and may culminate in losses. This makes it difficult for a good number of social enterprises to exploit their full potential.
For the ventures that are to be involved in production of goods, locating the right manufacturers is more often than not, quite difficult. Faced by the entrepreneurs as they bargain their hunt to find the most affordable one in accordance to their financial capabilities. However coming up with the cash to meet the minimum order is usually a problem to the entrepreneurs.
The structure of these kind of ventures is such that it does not promote innovation and risk taking. More specifically, this form of investment is likely to suffer from financial constraints thus many prospective investors find themselves with limited room for risk taking. As is the case for every other sector, there is a need to encourage experimentation and risk taking without which the likelihood of failure is increased many times over.
The entrepreneurs also have the role of promoting the development of entrepreneurial skills among the societal members. It can therefore be seen that they have roles of very significant influence to the economy and also the society well-being. It is always of vital importance, as seen above that efforts made by the entrepreneurs be supported to see to their success.
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