Depending upon the way in which we pick out to view it, the strengths or weaknesses of the concept of social entrepreneurship lie in the truth that most of its applications are in the form of a hybrid involving private, non-profit and public sectors. The survival or development of a social enterprise is not proof of its efficiency or effectiveness in improving social situations. Nevertheless, confusion and uncertainty are constantly noted about what specifically a social entrepreneur is and does.
Modern writers in management and small business have presented a wide variety of theories of entrepreneurship. Quite a few commercial companies would contemplate themselves to have social objectives, but social enterprises are distinctive mainly because their social or environmental goal remains central to their operation.
Social entrepreneurship is the model that current and newly formed charities will have to use if they are going to survive. This runs in contrary to some scholars’ definition of entrepreneurship as requiring quantum alterations in the goods/ solutions to be justified as being entrepreneurial (Bygrave, 1985 Bygrave & Hofer, 1991). Social entrepreneurs want a lot more than a rapid hit they want to generate lasting improvements.
Ashoka, a major social organization defines social entrepreneurship as someone who has a committed vision and inexhaustible determination to make a public value to resolve a public trouble, to direct public sources from an location of decrease productivity to the location of greater productivity and to work to transform their society to be a superior place to reside and to work”.
From worldwide microfinance to mission-primarily based pharmaceutical organizations to neighborhood workforce improvement applications, enterprises and applications across the globe ‘look, smell and taste’ like corporations, though holding social mission as the driving force.