Social Entrepreneurship Explained | How Social Entrepreneurship Works
Social Entrepreneurship: What it is and why it exists. Image Credit: youmatter . Entrepreneurship is the talk of the town today. Individuals rooting to do something of their own are sprouting up like never before. Even governments across the globe are encouraging home-grown entrepreneurs through funding and support of all sorts. What has inspired people to tread down the path of innovation? The underpinnings of ‘pioneerdom’ are well-documented in Professor Chuanyin Xie’s paper titled “Why Do Some People Choose to Become Entrepreneurs? An Integrative Approach” . He attributes venture creation to individual and environmental factors. The former comprises characteristics related to a person’s trait (need for achievement, risk-taking ability, etc.), demographics, and cognition. The environmental approach focuses on an individual’s surroundings in three contexts: immediate (role model(s) in the family or workplace), broad (political, legal, economic, cultural, and support institutions)