Social Entrepreneurship and Successful Entrepreneur

For a business to succeed in the society, there are certain qualities that a businessperson should display. An entrepreneur is a person who starts and manages a business and posses unique features. When the entrepreneur meets the customers, he/she should be fair in judgement, intelligent in analysing their problems, honest and having a positive attitude towards them.Advertising We will write a custom assessment sample on Social Entrepreneurship and Successful Entrepreneur specifically for you for only $16.05 $11/page Learn More An entrepreneur’s main objective is to excel. In order to achieve this he/she engages in a healthy competition with set standards to reach the best performance. This strengthens him/her in repairing misfortunes that may hinder success thereby becoming a winner. Secondly, an entrepreneur works hard to build new businesses. He extends his working hours with fewer hours of sleep in order to complete his work. In the process of work, he solves problems that arise in order to achieving the set goals (Roger Osberg, 2007). Moreover, a successful entrepreneur takes the risk in his business and learns from the failures that occurred initially. He challenges the risks and attains reasonable feedback, which influences decisions and abilities within the business. A successful entrepreneur innovate new ideas and creative thinking, which helps him to analyse and deal with problems in the business. He improves production methods, introduces good, and finds markets with new customers. A social enterprise is a non-profit business that applies commercial plan to maximise innovations as well as developing the environment. However, one can structure it to a profit making enterprise. It aims at solving societal problems such as poverty, malnutrition, inequalities, marginalization, and unemployment (Social Enterprise Revisited, 2010). Since some social enterprises are non-profit making in nature, in case of profit, they u se it for expanding their services in the community in which they operate. A social enterprise like Grameen Danone pays emphasis on societal well-being. It tries to uplift all persons in the society irrespective of their social classes, disabilities and other challenges. Grameen Danone plans to have every person drive the economy. However, traditional enterprises target expansion of their activities using the profit that they receive from the sales of their products.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In essence, traditional enterprises focus on profit maximization in order to prove the sustainability of their business. They are not ethics driven as compared to social enterprises. An example of this enterprise operation involves a case where a hospital surgeon can send a patient who has been stabbed in the heart away because he/she lacks funds to cater for the treatment. N otably, traditional enterprises commercialize their services; therefore, try to make profit at all times (Social Enterprise Revisited, 2010). On the other hand, social enterprises do not necessarily have to make profits in their operations. In case they make profit, it is channelled to help the society. The continuity of a traditional enterprise relies on profit making that is in a scenario of continuous loss, the enterprise closes down. However, such situations cannot warrant the closure of a social enterprise. Therefore, profit making is more important in a traditional enterprise than a social enterprise. Unjust equilibrium is a situation that can arise when one part of a society lacks political or financial power to attain any meaningful benefits on its own (Roger Osberg, 2007). For instance, it is evident in cases where the sellers do not know the buyers or the buyers do not know the existence of the products in the market. Such scenarios cause suffering, exclusion, and margina lization of a given group of people in the society. The inability of demand and supply of a product to interact effectively in the market results to unjust equilibrium. This equilibrium also results from the rising inequality in the society. Organizations ought to be innovative in order to solve the pressing societal challenges; this will enable the poor to access these essential services thereby stabilizing the equilibrium. According to Roger Osberg (2007), one needs to be courageous and committed to identifying the unfortunate stable equilibrium in social service provision. For example, in identifying the AIDS orphaned widows worldwide, the person sets up the program and addresses it in adults’ schools. This ensures that these widows are educated and cared for hence empowered to meet their own needs. The empowerment process will enable these widows be relieved from poverty. To access it easily, one has to design the program in a way that compels the legions of imitators an d replicators.Advertising We will write a custom assessment sample on Social Entrepreneurship and Successful Entrepreneur specifically for you for only $16.05 $11/page Learn More However, in social entrepreneurship, one can reformulate an adult school for AIDS widows (Roger Osberg, 2007). This will lead to a stable equilibrium since if one school is closed, there will be a healthy system where AIDS widows will continuously access education. Social entrepreneurship encourages continuity of service provision. Further, the other social venture is social activism where there is one motivator of the activity. In addition, the aspects of the actors’ features are the same, but the natures of the action oriented are different (Roger Osberg, 2007). Social activist is created indirectly by influencing others like NGO’s, consumers and workers. They yield substantial advancement in the already existing systems resulting to a new equilibrium and infl uence but not direct action. References Roger, M. L., Osberg, S. (2007). Social Entrepreneurship: The Case for Definition. Stanford Social Innovation Review, 3, 29-39. Social Enterprise Revisited. (2010, August 2). Social Wheel. Retrieved from http://www.socialwheel.co.za/home/static/en_US/id/5.html This assessment on Social Entrepreneurship and Successful Entrepreneur was written and submitted by user Libby Blake to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.