Social Innovation and Social Entrepreneurship

Social innovation and social entrepreneurship are a combination of two words with the keyword being social. To understand what the two terms denote it is ideal to understand first what social, innovation, and entrepreneurship stand for in general. The usage of the word social is where people are involved within a given environment to denote the class of problems and needs involved.

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Social services industry professionals are organizations that try to expand the social capital for the various groups existing within the society. The existing groups may comprise of organizations, individuals, communities and groups. Educating the community empowers them giving them the opportunity to explore their talents and put to use intelligence to better the society. According to Mulgan (2006), this form of organizational structure constructs flourishing societies. Adoption of the organizational framework ensures new business models capable of meeting the societal needs come to existence.

References

Bugg-Levine, A., Kogut, B., & Kulatilaka, N. (2012). A New Approach to Funding Social Enterprises. Harvard Business Review. Retrieved 28 June 2015, from https://hbr.org/2012/01/a-new-approach-to-funding-social-enterprises

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