How a Social Logic Can Transform Your Business

Description

Though social entrepreneurship and traditional, commercial entrepreneurship have many things in common, there are some fundamental differences. The author, an expert in the field of social entrepreneurship and social innovation, believes social entrepreneurship offers a transformative grassroots alternative to the usual way of doing business. This article highlights four crucial ways in which social entrepreneurs differ from their traditional counterparts, stemming from the important distinction between "value creation" and "value capture." He calls for mainstream economic theories and business models to acknowledge the valid place of "others-regard," and not just self-interest, as a key driver of alternative, highly impactive business decisions.

Keywords

commercial entrepreneurship control empowerment entrepreneurship for-profit hybrid MFI micro-entrepreneur microfinance institution not-for-profit others-regard positive externalities self-interest social entrepreneurship social welfare social-mission organization sustainable advantage sustainable solutions triple bottom line value capture value creation