When we think of entrepreneur, we think of someone—anyone—who takes risks, who is willing to go beyond, who has an innovative idea, who makes ‘that extra especial’ to benefit the community and accepts full responsibility for the outcome.
A commercial entrepreneur is that one that focuses mainly on maximizing profits and returns to shareholders. He has a new idea, concept or venture about providing goods and services to its consumers for profit to maximize revenues. He is concerned with its mission but is not his main concern.
While the commercial entrepreneur measure his potential profit and return, a social entrepreneur, on the other hand, focuses mainly on the social good and what is right for making the world a better place, still concerned with their margins, however the margins of the company isn't the social enterprises main concern. Virtues of social entrepreneurs include promoting efficiency and innovation, leveraging scarce public and philanthropic resources, quick response to demand and improved access to skilled personnel.
Adam Stiles, Audrey Paquet, Catherine Langley, Morgan Vickers, Stivaleit Guerrero.
The main difference between these two types of entrepreneurs is that the regular entrepreneur recognizes the normal level and tries to disrupt what is going on to create something new, while the social entrepreneur sees things happen less than what is normal and has a desire to make it at least normal. It can be looked at as solving issues versus making money. The social entrepreneurs really want to change the system that is producing an outcome that is not favorable. While business entrepreneurs’ efforts focus primarily on building a successful business and making a profit, the social entrepreneur has a purpose to create a social change and is there to manage the profits back into the organization.
Both types of organizations know that being profitable helps sustain the venture. The social entrepreneur wants to promote efficiency and innovation, leverage scarce public and philanthropic resources, respond quickly to demand, and improve access to skilled personnel. The business entrepreneur must be wise, be willing to create the right relations, take risks when needed, and be able to tell when enough is enough. The social entrepreneurs measure the levels of values for the society. What does it mean to be not good enough? To the commercial entrepreneur it means that if they have made a profit then they have won, but for the social entrepreneur if the profits are high and they have still have not cured the social good than they are not doing well.
Kiriaki Konstantinidis Amanda Bullock Emilie Roos Ashlee O’Connell Matthew Inman Jordan Fox
The main difference that stands out between business and social entrepreneurship is the purpose of venture and measure of success. Social entrepreneurship contains the aspect of social and economic value. Social entrepreneurship is more driven to make a social change and they measure success in how much they actually helped a community. The social entrepreneur is different from the business entrepreneur in the sense that a social problem is recognized, these individuals pay very close attention to their impacts on society. Rather than ignoring social problems and leaving it to government, they will work toward the betterment of the social order. This entrepreneur will dedicate their lives to creating possibilities that can manage a venture to make the necessary social change as well as apply the entrepreneurial principles to fix the problem and maximize utility. Business entrepreneurship is more focused and concerned on building more businesses and earning maximum profits, also increasing net profits and paying returns to shareholders/owners. Commercial Entrepreneurs tend not to hold themselves accountable for the negative externalities they may be responsible for causing for society. The business entrepreneur for example will develop a product that may be more eco-friendly, but they will increase the price on the product and the material that makes the particular product may not actually be good for the environment (e.g. eco-friendly light bulbs; made with mercury). The business entrepreneur has some similarities as the social entrepreneur, they both are ambitious and persistent, they both want to maximize possible potential (one being how many lives they can impact and change; the other being profits and shares) and lastly they both seem to commit their lives and are visionaries. Chris Ruffin James Brady Anthony Anyansi Ayesha Khan Megan Binns Ashley Hall
When we think of entrepreneur, we think of someone—anyone—who takes risks, who is willing to go beyond, who has an innovative idea, who makes ‘that extra especial’ to benefit the community and accepts full responsibility for the outcome.
ReplyDeleteA commercial entrepreneur is that one that focuses mainly on maximizing profits and returns to shareholders. He has a new idea, concept or venture about providing goods and services to its consumers for profit to maximize revenues. He is concerned with its mission but is not his main concern.
While the commercial entrepreneur measure his potential profit and return, a social entrepreneur, on the other hand, focuses mainly on the social good and what is right for making the world a better place, still concerned with their margins, however the margins of the company isn't the social enterprises main concern. Virtues of social entrepreneurs include promoting efficiency and innovation, leveraging scarce public and philanthropic resources, quick response to demand and improved access to skilled personnel.
Adam Stiles, Audrey Paquet, Catherine Langley, Morgan Vickers, Stivaleit Guerrero.
The main difference between these two types of entrepreneurs is that the regular entrepreneur recognizes the normal level and tries to disrupt what is going on to create something new, while the social entrepreneur sees things happen less than what is normal and has a desire to make it at least normal. It can be looked at as solving issues versus making money. The social entrepreneurs really want to change the system that is producing an outcome that is not favorable. While business entrepreneurs’ efforts focus primarily on building a successful business and making a profit, the social entrepreneur has a purpose to create a social change and is there to manage the profits back into the organization.
ReplyDeleteBoth types of organizations know that being profitable helps sustain the venture. The social entrepreneur wants to promote efficiency and innovation, leverage scarce public and philanthropic resources, respond quickly to demand, and improve access to skilled personnel. The business entrepreneur must be wise, be willing to create the right relations, take risks when needed, and be able to tell when enough is enough. The social entrepreneurs measure the levels of values for the society. What does it mean to be not good enough? To the commercial entrepreneur it means that if they have made a profit then they have won, but for the social entrepreneur if the profits are high and they have still have not cured the social good than they are not doing well.
Kiriaki Konstantinidis
Amanda Bullock
Emilie Roos
Ashlee O’Connell
Matthew Inman
Jordan Fox
This comment has been removed by the author.
ReplyDeleteThe main difference that stands out between business and social entrepreneurship is the purpose of venture and measure of success. Social entrepreneurship contains the aspect of social and economic value. Social entrepreneurship is more driven to make a social change and they measure success in how much they actually helped a community.
ReplyDeleteThe social entrepreneur is different from the business entrepreneur in the sense that a social problem is recognized, these individuals pay very close attention to their impacts on society. Rather than ignoring social problems and leaving it to government, they will work toward the betterment of the social order. This entrepreneur will dedicate their lives to creating possibilities that can manage a venture to make the necessary social change as well as apply the entrepreneurial principles to fix the problem and maximize utility.
Business entrepreneurship is more focused and concerned on building more businesses and earning maximum profits, also increasing net profits and paying returns to shareholders/owners. Commercial Entrepreneurs tend not to hold themselves accountable for the negative externalities they may be responsible for causing for society. The business entrepreneur for example will develop a product that may be more eco-friendly, but they will increase the price on the product and the material that makes the particular product may not actually be good for the environment (e.g. eco-friendly light bulbs; made with mercury). The business entrepreneur has some similarities as the social entrepreneur, they both are ambitious and persistent, they both want to maximize possible potential (one being how many lives they can impact and change; the other being profits and shares) and lastly they both seem to commit their lives and are visionaries.
Chris Ruffin
James Brady
Anthony Anyansi
Ayesha Khan
Megan Binns
Ashley Hall
This comment has been removed by the author.
ReplyDeleteSocial and commercial entrepreneurship share many traits, but vary based on their
ReplyDeletepurpose of existence. As we all know, the reason for a commercial enterprise’s existence is the
pursuit of profit. Social entrepreneurship takes the basic foundation of business and looks for
ways to change the system by allowing them to become more socially conscious. Social
enterprises take on a problem solving nature that aims to increase a society’s ability to do more
things better. There are four different kinds of social entrepreneurship including for-profit, non-
profit, socially responsible businesses, and purely profit-motivated firms. However, just as
commercial enterprise, social enterprise must create value for their consumers. These enterprises
create value through producing supplies, employing workers, designing a product, and producing
the product. While social enterprises are created based on a desire to better the world, they must
carry with them the concepts of commercial enterprises in order to become successful.
For example, from the perspective of a social entrepreneur, if they want to promote
recycling in their community, they then will come up with many effective and efficient ways to
promote recycling. Whereas, from the perspective of a commercial entrepreneur, if they want to
promote recycling for their community, they then will provide a service to the community in
ways that their venture can turn into capital; such as receiving fund from sponsorships to run a
recycling campaign, etc. In general commercial entrepreneurship usually aims to achieve the
incentive of their mission first and then force to execute their social ambition will come second.
Ultimately, the purpose of both social entrepreneurship and commercial entrepreneurship is to
create social value for the public, however, each of their ventures are examined differently.
Group Johanson: Becky Austell, Whitney Buchanan, Tran Ngo, Craig Shannon, Dennis Andrews, and Itai Baron.