An Exploration of Social Entrepreneurship in the Entrepreneurship Era

Abstract

Entrepreneurship has been the engine propelling much of the growth of the business sector as well as a driving force behind the rapid expansion of the social sector. Additionally, the award of the Nobel Peace Prize in 2006 to Mohammad Yunus for founding the Grameen Bank thrust social entrepreneurship into the global spotlight. The Grameen Bank is the world's largest micro-finance organization; it is a profitable business that has helped thousands of people, mostly women, out of poverty. Social entrepreneurship, the simultaneous pursuit of economic, social, and environmental goals by enterprising ventures, has gradually found a place on the world's stage as a human response to social and environmental problems (Haugh, 2007). This paper aims to review and study the recent developments in social entrepreneurship as an important phenomenon in today's entrepreneurship era.