Despite the fact that not a new construct- social entrepreneurship has been about for over forty years-the company model driving the idea is still evolving. Ashoka, a top social organization defines social entrepreneurship as an individual who has a committed vision and inexhaustible determination to generate a public worth to solve a public challenge, to direct public resources from an area of reduce productivity to the location of higher productivity and to work to transform their society to be a much better spot to reside and to work”.
Early in his book on Innovation and Entrepreneurship, Drucker asserts, No far better text for a History of Entrepreneurship could be located than the creation of the modern day university, and specially the modern American university.” He then explains what a big innovation this was at the time.
Social entrepreneurs are people who understand where there is an chance to satisfy some unmet need that the state welfare technique will not or can not meet, and who collect together the vital resources (normally persons, generally volunteers, income, and premises) and use these to make a difference”.
Exhibiting a heightened sense of accountability to the constituencies served and for the outcomes created: Mainly because market place discipline does not automatically weed out inefficient or ineffective social ventures, social entrepreneurs take actions to assure they are producing worth.
Confusion in the news media regarding hybrid efforts such as Google’s are understandable but news articles or corporate promotion components sometimes inaccurately state that a small business behaving in a socially responsible manner is engaging in social entrepreneurship.