The paper "High-Performance Nonprofit Organizations" is a wonderful example of a Management Assignment. The presentation by Dr. Pamela Hartigan was about social entrepreneurship. According to the speaker, social entrepreneurship is the part that entrepreneurs adapt their activities to be unswervingly tied with the definitive objective of making social value. In the process, they habitually act with no intention or little to get personal profit. Converse, Austin (2000) stated that the social entrepreneur mixes an image of business-like discipline with the infatuation of a social mission, determination, and innovation usually associated with, for example, a high-tech pioneer of the Silicon Valley (Austin, 2000, p.
67). In relation to the speaker, utilization of social entrepreneurship term is gaining more popularity. However, uncertainty and confusion are continually noted in relation to what precisely a social entrepreneur is and what it does (Collins, 2004, p. 98) According to Letts (2009) the social entrepreneur term is usually ill-defined, it has no consistent theoretical framework, and it is disjointed (Letts, 2009, p. 78). In relation to the presentation, commercial entrepreneurs vary from Social entrepreneurs in that social entrepreneurs seek permanently and fundamentally, to change the context that gives rise to the challenges and opportunities for which their solutions are tailored.
Different from commercial entrepreneurs, when social entrepreneurs articulate that they desire to toil themselves out of work, thus, social entrepreneurs are not making a persuasive proclamation to sound good, they are simply stating the apparent. The presenter presume that social entrepreneurs are more concerned in understanding the socio-economic, social, cultural, and political context of the predicaments they are trying to resolve more than the customary entrepreneurs. Oster (2007) argued that it is the work of a social entrepreneur to be in front of the line when it is about the social impact of different phenomena and whether it implies greater deference to the academic research (Oster, 2007, p.
98). According to the speaker, entrepreneurship is an incomparable set of activities done by people with exceptional or outstanding mind-set so that to maximize profit. Thus, the process is directly linked to success. The presenter used the term exceptional mindset as a wider term, to sum up, the characteristics, which shape the entrepreneurial actions of those people.
The speaker distinguished entrepreneurs from other business individuals by incorporating proclamations for instance entrepreneurs usually create needs; whilst business individuals usually satisfy the needs. Entrepreneurs are usually conceptualized as people who visualize the world in a different way and envisage the future better compared to the way others do. Social entrepreneurs grab the opportunities that otherwise would go unseen. They normally accept and perceive risks in a different way than others. The speaker elaborated on the uniqueness of the entrepreneurs, as obtained from the partial or full definition of opportunity exploitation, venture making, and maximization of the profit.
The characteristics underline the economist’ s scrutiny of an entrepreneur as the person with an exceptional mind-set; people with that mind-set are viewed as key to undertaking economic opulence and growth maximization (Stevenson, 2007, p. 34) Similarly to speaker sediments, social enterprises might be run for non-profit or profit and sit somewhere between an entirely charitable organization and the conventional corporation. Some associations are able to make adequate income via the sale of socially valuable services or goods, however, many are not.
Additional funding opportunities comprise donations, corporate investment, and government funding. Approaching potential investors is a difficult task, in fact, it is even more difficult to persuaded investors if the business is non-profit rather than profit-oriented and not likely to make a return for investors. On the other hand, many donors are skeptical of a social enterprise that is run as a for-profit organization where too much focus may be placed on wealth creation and too little on social value (Letts, 2009, p. 73-74).
List of References
Clarke, A 2009, Social media, Ottawa, Library of Parliament.
Mandiberg, M 2012, The social media reader, New York, New York University Press.
Qualman, E 2009, Socialnomics: how social media transforms the way we live and do business, Hoboken.
Timmons, B 2006, Venture capital's role in financing innovation for economic growth, Journal of Business Venturing, 1, 161–173.