Social entrepreneurs are “reflective practitioners” who “think in action; that is, they operate while reflecting mindfully on their actions, in order to continuously refine both their practices, and their theories. The first between two types of actions: direct versus indirect. A direct action is one an actor takes personally in order to conduct about a particular desired outcome. An indirect action is one in which the actor persuades another entity or person to take the particular action that brings about the intended outcome. The second distinction between two types of outcomes: incremental or maintenance improvement of the present system versus transformation of the current system to a new, more optimal system (Denning, 2015). Social entrepreneurs arrange the minority among those entrepreneurs who are seeking financial freedom. Though they are maybe the least in number, social entrepreneurs are focused on solving some of the world’s biggest problems. They employ the latest innovations, and technologies and driven to generate an impact that will better our environment and lives (Aic, 2020). Social entrepreneurship defines as a procedure whereby the design of new business enterprise leads to social wealth improvement so that both entrepreneur and the society benefit. Social entrepreneurship is distinctly not defined by such measures as sales or size figures. It ranges from the work being done by large organizations like Hartigan’s to the successes that come from projects manage in small communities and even by individuals (MacMillan, 2003).

References

Aic, R. (2020). Social Entrepreneurship; its impact for the future. Social Entrepreneurship; Its Impact .

Denning, S. (2015). How Social Entrepreneurs Change The World. Social Entrepreneurs .

MacMillan, I. (2003). Social Entrepreneurs: Playing the Role of Change Agents in Society. Knowlege Social Entrepreneurs.

R2

Traditional organizations facing disturbance are increasingly investing in acquihiring and intrapreneurship. Intrapreneurship is the practice of fostering autonomous teams within larger organizations. Acquihiring is a more recent occurrence where a large organization acquires a smaller startup in an effort to rapidly onboard a high-functioning team even where there is no interest in the actual product or service provided by the startup. Both strategies can be expensive and require particular planning (Akhtar & Ort, 2018).  Functioning oriented view of social capital and adopting a mechanistic, the paper propose the existence of two different mechanisms which may explain the entrepreneurial and enrichment exploitation processes of social capital’s resources: (1) the exchange mechanism, based on a network’s relational and cohesion quality, favoring the interchangeability of these resources among network members, and (2) the resource mechanism, based on a network’s diversity and size, providing variety and quantity of social capital resources (Hernández-Carrión & Gutiérrez-Cillán, 2020). Social capital” has no conclusive definition, but it commonly has to do with the value that comes from social and relationships networks. Human capital is the economic value of a worker’s output and potential. Closely related, social capital is the network of relationships among people who work and live in a community. These social networks allow businesses and societies to function successfully. (Waters, 2021).

References

Akhtar, R., & Ort, U. (2018). Building Entrepreneurial Teams: Talent, Social Capital, and Culture. Executive Resources Social Capital.

Hernández-Carrión, C., & Gutiérrez-Cillán, J. (2020). The internal mechanisms of entrepreneurs’ social capital: A multi-network analysis. Business Research.

Waters, S. (2021). Why social capital might be the most valuable asset you aren’t using. Better Up Social Capital.

R3

DTheory and Practice define how social entrepreneurship can creatively solve apparently and pressing too great to be overcome social problems. Theories of social change are presented to help understand the ‘magic ‘of making an immense, so far irreversible, and substantial social impact. The authors review the specific personality traits of social entrepreneurs and introduce the new leadership model required for 21st-century development. These external connections may also generate further bridging and bonding connections for these young people enhancing their social capital and generating further positive social change. In-depth case studies from multiple disciplines and from around the globe document how social entrepreneurs foster bottom-up change that empowers societies and people. Constructing new and mutual friendships is essential for these young people to institute as social networks are the foundations of social capital (Praszkier & Nowak, 2011). Transactional leaders focus on, extrinsic rewards, performance, and supervision in employees. They are concerned with everyday progress toward company and mutual goals. A transformational leader transcends managing everyday operations to design strategies for taking the company or work team to the next level of success and performance.  Charismatic leadership is a form of professional management or guidance built on a foundation of powerful communication skills, persuasiveness, and maybe even a little bit of desirability to help them get the most out of everyone that works for them. (Thwing, 2018).

References

Praszkier, R., & Nowak, A. (2011). Social entrepreneurship: Theory and practice. Social entrepreneurship.

Thwing, S. (2018). Study examines best leadership styles for entrepreneurial startups. Economics and Business.