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Social Entrepreneurship: Defining The Concept And Key Components

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  • VADUVA CONSTANTIN-DANIEL

    (INDEPENDENT RESEARCHER)

Abstract

Social entrepreneurship represents a transformative approach to business, combining entrepreneurial principles with a commitment to social good. It differs from traditional entrepreneurship by prioritizing social value over profit. Social entrepreneurship integrates economic viability with a commitment to solving societal challenges. This paper examines the definition and essential components of social entrepreneurship, which include a social mission, innovation, financial sustainability, and scalability. To this ends, the author employed a qualitative research method. Drawing from theoretical perspectives such as stakeholder theory, triple bottom line, and institutional theory, the results of the study provide a comprehensive understanding of how social entrepreneurs innovate to address social issues. Also, they show the hybrid nature of social entrepreneurship, positioned at the intersection of the for-profit and non-profit sectors.

Suggested Citation

  • Vaduva Constantin-Daniel, 2024. "Social Entrepreneurship: Defining The Concept And Key Components," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 228-235, December.
    • Handle: RePEc:cbu:jrnlec:y:2024:v:6ii:p:228-235
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    References listed on IDEAS

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