Track 1: Social Entrepreneurship

Social entrepreneurship has emerged as a transformative force in the world of business, blending the principles of entrepreneurship with a commitment to addressing social and environmental challenges. This approach empowers individuals and organizations to create positive change while building sustainable, purpose-driven businesses. 

Social entrepreneurship is a hybrid concept that combines the principles of traditional entrepreneurship with a strong commitment to solving social or environmental problems. It goes beyond merely generating profit and seeks to create a positive impact on the world. A social entrepreneur is someone who identifies a pressing social issue and designs innovative solutions, often through the creation of a sustainable business model.

Social entrepreneurs may play a crucial role in identifying and addressing unmet needs in society. They may recognize gaps in traditional solutions and develop creative approaches to fill those gaps. For example, organizations like Grameen Bank, which provides microloans to impoverished communities, have helped millions escape the cycle of poverty.

Social entrepreneurship is characterized by its innovative problem-solving approach. These entrepreneurs use out-of-the-box thinking and creativity to find novel solutions to complex issues. This often leads to groundbreaking developments in fields like healthcare, education, and renewable energy.

Social enterprises are observed that they are usually built on sustainable models, ensuring that their positive impact endures over time. Unlike traditional charity or aid-based approaches, social entrepreneurs claim that they aim to create lasting change by addressing the root causes of problems and building self-sustaining solutions.

Social entrepreneurship may also contribute to economic growth by creating jobs, boosting local economies, and enhancing productivity. Moreover, it attracts investment and fosters collaboration between the public, private, and nonprofit sectors, driving economic development.

Therefore, essentially, social entrepreneurship is rooted in the desire to bring about positive change in society. It distinguishes itself from traditional entrepreneurship by focusing on addressing social problems, including poverty, environmental degradation, healthcare disparities, and educational inequities. 

It is suggested that social entrepreneurship may also have close ties with businesess over innovativeness, brand reputation, and employee engagement. Fors instance, social entrepreneurship may lead to innovation and the identification of new market opportunities. It may encourage businesses to think creatively, leading to the development of products and services that cater to unmet social needs. It can also enhance a company's brand reputation and foster consumer loyalty. Customers often prefer businesses that are socially responsible and contribute to the betterment of society. In addition, socially responsible businesses may attract and retain talented employees who are motivated by a company's commitment to social good. This can improve morale and productivity within the organization.

While social entrepreneurship offers a promising path for addressing societal challenges, it faces several challenges, including access to capital, regulatory barriers, and the need for sustainable business models. Some of the major issues or concerns associated with social entrepreneurship are as follows:

Social entrepreneurs often face difficulties in measuring and proving the impact of their initiatives. There can be a lack of standardized metrics and transparency, which can lead to doubts about the actual social or environmental impact.

Some critics argue that mainstream businesses or corporations may engage in such activities primarily for marketing purposes, known as ‘greenwashing’ or ‘social washing’ where they use social and environmental initiatives to improve their image without sincerely committing to improvement.

In some cases, well-intentioned projects can inadvertently contribute to gentrification and displacement of marginalized communities. As areas become more attractive due to social initiatives, property values can rise, pushing out existing residents.

It may sometimes prioritize market-driven solutions over systemic change. Some argue that it may address symptoms of social issues without challenging the root causes or advocating for broader structural changes.

Limited access to funding and scarce financial resources compared to traditional for-profit businesses is a real problem. This can hinder the scalability and sustainability of their initiatives. A significant number of social enterprises rely on grants and donations, making them vulnerable to funding fluctuations and economic downturns. This can lead to instability and even project closures. There can be disparities in access to opportunities and resources within the social entrepreneurship space. Some individuals or groups may face systemic barriers to entering the field.

Well-intentioned projects may have unforeseen negative consequences. For example, providing free goods or services in a community can undermine local businesses and job opportunities.

Social entrepreneurs may also face serious ethical dilemmas when trying to balance profit generation with social and environmental goals. Decisions about pricing, cost-cutting, and revenue generation can be morally challenging.

The passion and dedication required for social entrepreneurship can lead to burnout and high levels of stress, especially when the impact is slow to materialize or when social entrepreneurs take on significant personal financial risks.

Negotiating complex legal and regulatory environments can be challenging for social enterprises, which often operate in the intersection of the for-profit and non-profit sectors.

Achieving scale and replicability while maintaining the initial mission and values can be a significant challenge for social enterprises.

As a result, studying social entrepreneurship and such enterprises is a challenging task to shed light on all these issues. Therefore, empirical and conceptual research papers, or work-in-progress papers, or extended abstracts, or case studies are welcomed to be presented and discussed at the conference.