Two modes of social entrepreneurship
Social enterprise mode: This refers to foundation, management and growth of social enterprise. A person starting or running a small business.
Social innovation mode: It is considered with the discovery and sustainable exploitation of opportunity to create public goods through the generation of disequilibria in market and non-market environment. It requires three things:
1. Discovery: of previously unidentified opportunities to create public goods.
2. Successful exploitation: find financially viable business model that allows them to support the idea financially.
3. Generation of disequilibria: social entrepreneurs cause disruption in their market and non-market environments by initiating their peer to copy and replicate their ideas.
For example, Prof. Muhammad Yunus received Nobel Prize because his idea has been replicated around the world. Professor has both started a social enterprise and kicked off a global social innovation.
Social enterprise point of view is focused on a specific organization. Social innovation point of view wants to transform industries and get other people to copy and replicate their ideas.
Social innovation mode: It is considered with the discovery and sustainable exploitation of opportunity to create public goods through the generation of disequilibria in market and non-market environment. It requires three things:
1. Discovery: of previously unidentified opportunities to create public goods.
2. Successful exploitation: find financially viable business model that allows them to support the idea financially.
3. Generation of disequilibria: social entrepreneurs cause disruption in their market and non-market environments by initiating their peer to copy and replicate their ideas.
For example, Prof. Muhammad Yunus received Nobel Prize because his idea has been replicated around the world. Professor has both started a social enterprise and kicked off a global social innovation.
Social enterprise point of view is focused on a specific organization. Social innovation point of view wants to transform industries and get other people to copy and replicate their ideas.
This blog post is based on my learnings from the course on ‘social entrepreneurship’ offered by Copenhagen Business School through Coursera (2014).
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