Social Entrepreneurship: Theoretical Antecedents and Empirical Analysis of Entrepreneurial Processes and Outcomes

Abstract

This paper seeks to address the emerging issue of social entrepreneurship by exploring both the historical and theoretical antecedents of social enterprise and its contemporary practice. The paper draws on the relevant historical, sociological and economics based literature as well as that emanating from the entrepreneurship domain. In-depth interviews with 80 social entrepreneurs revealed five key themes within which the practice of social entrepreneurship could be compared and contrasted with for-profit entrepreneurship. These include: the entrepreneurial process, in particular opportunity recognition; network embeddedness; the nature of financial risk and profit; the role of individual versus collective action in managing and structuring enterprises; and creativity and innovation.

Keywords: Entrepreneurship

JEL Classification: M13