Social entrepreneurship and the nature of the impact achieved

Abstract

Society's most pressing needs all over the world have raised concerns which are comprehensive, deep and quick. The development of any nation depends on its social and economic strength as well as the contributions of its citizens. Their contribution now has an important place, but is only relatively recently that this contribution has been recognized by writers outside mainstream economic thinking. As attention has become more focused on the importance of entrepreneurship for economic security and the creation of employment opportunities, greater attention has been directed at the social enterprise sector. Thus, the new innovative culture has additionally spread to the social area. Progressively higher expectations are being set on social entrepreneurship in ameliorating social issues facing the world at large. Social entrepreneurship is a concept that covers the individual motivation and leadership behind the pursuit of social objectives. This can be best represented as the activity of pursuing social objectives through entrepreneurship. Accordingly, social business ventures can include a somewhat expansive scope of associations and organizations which acquire assets to implement social objectives. Therefore, the main purpose of this paper is to examine the impact of social entrepreneurship in addressing social issues facing the world. It will explain the importance of social entrepreneurship, its concepts, social issues as well as impacts of social entrepreneurship. Additionally, Nigeria was cited in most cases as an example of such an impact.

Keywords: Social entrepreneurship, social economy, sectors, social enterprise.