The concept of entrepreneurship has a long history in the business sector. A major theme has been the creation of value through innovation. As applied more recently to social concerns, the concept has taken on a variety of meanings. Some, for example, have focused on social entrepreneurship as combining commercial enterprises with social impacts. In this perspective, entrepreneurs have used business skills and knowledge to create enterprises that accomplish social purposes in addition to being commercially viable. Not-for-profit organizations may create commercial subsidiaries and use them to generate employment or revenue that serves their social purposes, or for-profit organizations may donate some of their profits or organize their activities to serve social goals. These initiatives use resources generated from successful commercial activities to advance and sustain their social activities. Others have emphasized social entrepreneurship as innovating for social impact. In this perspective, attention is focused on innovations and social arrangements that have consequences for social problems, often with relatively little attention to economic viability by ordinary business criteria. Social entrepreneurs are focused on social problems, and they create innovative initiatives, build new social arrangements, and mobilize resources in response to those problems rather than the dictates of the market or commercial criteria.
Noor Raihani Zainol will be speaking at International Congress on Entrepreneurship 2021 which is scheduled to happen on 13th and 14th August 2021 at Hong Kong, HKSAR.