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Social Entrepreneurial Mindset - Coggle Diagram
Social Entrepreneurial Mindset
Definition
: Actively seeks to identify and solve problems faced by impoverished communities sustainably.
Characteristics:
Entrepreneurial Orientation: Promotion orientation, optimism, self-confidence, proactivity, lower risk aversion.
System Change Orientation: Focus on creating systemic change.
Prosocial Orientation: Compassion and empathy.
Framework (Singh & Sharma, 2018):
Prosocial Orientation: Compassion and empathy towards others.
System Change Orientation: Focus on long-term, systemic change.
Entrepreneurial Mindset:
Promotion orientation
Optimism
Self-confidence
Proactivity
Lower risk aversion in uncertain situations
Key Points:
Overlap of Orientations: Social entrepreneurship lies at the intersection of prosocial, entrepreneurial, and system change orientations.
Recruitment Implications: Companies can identify and recruit employees with a social entrepreneurial mindset by recognizing these dimensions.
Differences Between Entrepreneurs and Social Entrepreneurs
Motivation:
Entrepreneurs: Driven by bringing about change and seeing ideas take shape, not solely by profit.
Social Entrepreneurs: Driven by creating social impact and solving problems for those who cannot afford solutions.
Design Focus:
Entrepreneurs: Solutions for those who can afford them.
Social Entrepreneurs: Solutions for those who cannot ordinarily afford them.
Profit Orientation:
Entrepreneurs: Accept resultant profit from efforts.
Social Entrepreneurs: Scale down profit to maximize social impact.
3. Social Entrepreneurship vs. Other Forms of Social Engagement
Social Service:
Direct action to solve problems using external funding.
Limited impact.
Social Activism:
Can complement social entrepreneurship.
Indirect action by motivating stakeholders (e.g., government, public) to effect change.
Social Entrepreneurship:
Permanent change through motivated individuals.
Can include activism by highlighting successful solutions.
Combines sustainable business models with direct action.
4. Importance of Social Entrepreneurship
Theory of Change (Alonge, 2014):
Entrepreneurs need to have a clear assumption on how their social business model will make an impact.
Innovation is crucial to develop sustainable solutions for pressing societal problems.
Impact Measurement:
Knowing the destination and progress metrics.
5. Open Innovation
Definition:
Utilizes both internal and external ideas, knowledge, and technologies.
Encourages collaboration and knowledge sharing among entities and sectors.
Benefits:
Enhances innovation potential.
Addresses challenges more effectively.