The paper "Social Enterprises and Their Contribution to the Economic Climate" is a great example of business coursework. This essay analyzes social enterprises and their contribution to the economic climate. It has provided a clear descriptive analysis on the difference between entrepreneurship and social entrepreneurship as well as social enterprises. The essay explains social entrepreneurship as a phenomenon where entrepreneurs are guided by the objectives of making society better. It has been shown that social enterprises take different models through which their goals are achieved. The essay analyzes with the help of examples from Enactus (Global University social entrepreneurship competition).
It has described the social enterprises that engage themselves in business activities to earn profit and later use the profit to benefit the members of the society. Others have shown and well-analyzed on how they do their business as a tradeoff between their financial returns and their social impacts. This essay has also shown other models of social enterprises that do business with a very close relationship between the financial returns of the business with its social impacts. The essay also shows how UC social enterprise hub is used to nature and train individuals on how to engage with social entrepreneurship so as to benefit the members of the society and gain financially.
The essay shows the positive contribution of social enterprises in the economic and social lives of individuals. It has been shown that even the environment will be well sustained by social enterprises. This essay concludes that social entrepreneurship and social enterprises are usually accompanied by a positive contribution to the economic climate. Introduction Social enterprises refer to organizations which have social responsibilities and purposes but they generate most of their income from trading activities (Frumkin 2002).
They include cooperatives; community enterprises leisure trusts as well as housing associations. It can be a private activity done in the interest of the public and it is organized with a strategy that is entrepreneurial in nature with a purpose of attaining some social and economic goals but not purely profit maximization (Grassl 2012). Social entrepreneurs measure returns which are positive to society. They usually combine the goals of the society with their spirit of entrepreneurship (Sidek, Ali & Ismail 2016).
Entrepreneurship, on the other hand, is a process through which entrepreneurs bring together the other factors of production with the aim of making a profit. These engage in business with the aim of gaining financially without any social responsibility in them. According to Sidek, Ali & Ismail (2016), the difference between the two entrepreneurships is basically that social entrepreneurship carries social responsibility. Social enterprises take different models in terms of business, financial as well as their planning. This essay will critically analyze the contribution of social enterprises as well as a social entrepreneurship in the current economic climate.
The essay will also show the different business and financial models of social enterprises. Examples will be drawn from UC Social Enterprises. Social entrepreneurship Social entrepreneurship is a phenomenon where entrepreneurs are guided by achieving their societal goals other than making a profit. It has led to the formation of social enterprises which basically focus on objectives related to the society (Sidek, Ali & Ismail 2016). The objectives may be environmental, social or community-based and their realization makes the lives of individuals in the society better.
This makes social enterprises take unique models as far as their financial and business aspects are concerned. Singh (2012) argues that social enterprises involve the people in the society, resources by the entrepreneurs together with the identified purpose of the enterprise. If the purpose of the enterprise is accomplished, both the entrepreneur and the society will benefit. These benefits will take the form of social wellbeing; better spiritual life and good environment to live in together with better economic environment (Singh 2012).
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