Boundaries and Challenges for Social Entrepreneurship

Abstract

Social and economic progress is inextricably intertwined. Charity and aid can improve the quality of life and the life chances of the poor by subsidizing interventions education and health care and increasing access to clean water and so forth. However, these interventions may not alleviate poverty in a sustained way unless increased economic participation and empowerment for the poor is ensured. Existing large corporations could support the economic engagement of the poor for the betterment of society. If there is an arena in which boundaries need to be defined and challenges understood well, it is social entrepreneurship, so that social enterprises and social entrepreneurs will be able to achieve their goals and objectives in a coherent and meaningful manner. The thrust of this chapter is to understand social entrepreneurship, its differentiators and its boundaries along with the challenges faced by social entrepreneurs. Based on content analysis, in-depth literature review and published reports, the chapter findings relate to the strategies which need to be adopted to overcome the challenges. It is also hoped that the global examples would serve as role models for future entrepreneurs.