Research Paper on Enterprise-Oriented: Key Characteristic for Businesses

Introduction

Being enterprise-oriented is the first characteristic. These enterprises directly involved in provision of good and services that aids in getting solutions to the challenges they tackle. For instance, in the enterprises that deal with housing, they have their concentration on availing houses, homes, as well as managing real estates of individual and a variety of other activities of that kind (Lan et al., 2014). This feature gives them their definition and identity depending on the activities they engage in, therefore, most enterprises derive their names from the activities they carry out. The social entrepreneurial organizations such as housing tend to have the issue of providing homes as their main area of specialization which also involve in development of stylistic designs of houses which are critical and which match to what is needed in the market. Besides, the non-profit entrepreneurial firms that major in providing living places for the people may focus on how to acquire resources that will enable them to continue building houses for the people.

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Secondly, they have a common feature is that these social enterprises hold the community as their center of interest (Lan et al., 2014). The enterprises often have an aim of availing essential social requirements to the people who are unfortunate. Some of the social necessities may include alleviation of poverty, ensuring adequate education to the community as well as social civilization. These enterprises target a specific social setup where there is a rift in terms of availability of social amenities with an attempt of covering up the difference. They mind about the social development of the community, whether they are based on profit generation or charity. They also have social aims such as the creation of awareness, job creation to fight joblessness, settling the homeless, providing education to the illiterate as well as empowering some marginalized groups of individuals. A housing enterprise concentrates much on the housing facility and alleviation of homelessness to promote health and human dignity.

The third characteristic is proprietorship (Lan et al., 2014). As many other organizations, social entrepreneurial firms also have a feature of possession. Some may be owned by individual entrepreneurs and other by a company of social entrepreneurs. Others may be owned by a group of social groups. Social organizations such as churches, schools, and even hospitals may own social enterprises with an objective of assisting the community in one way or the other. These social enterprises may be independent with their management structures being founded on the aims of the social enterprise. For the profit-based, they have their guidelines of how they share the profit among the stakeholders and other members. (Lan et al., 2014). Those that are non-profit based, on the other hand, will have their ways of how to obtain funds to drive them and proceed with their activities. These are some of the features of these social enterprises.

Social entrepreneurship is primarily founded on creativity that assists in meeting the need of the society. (Lan et al., 2014). Therefore, entrepreneurs must conceive ideas that are innovative and culturally acceptable. They should also be able to implement and come up with realistic in the vision of rolling down the plan. The entrepreneurs should have in their minds the wellbeing of the society in their innovative strategies. The proposals should, therefore, have an orientation of ensuring they solve the problems that affect the community.

Advantages of Social Entrepreneurship

Social entrepreneurship is a critical venture in any society as they mostly target the welfare of the community. Therefore, society should endorse any social entrepreneurs who wish to start a social enterprise in the community. There are several advantages to the members of the society are likely to enjoy from social enterprises. Some of these advantages may include the creation of employment; this means that an entrepreneur may come up with a venture in a society that suffers significantly from unemployment to assist the members of that particular society with a stable source of employment (Hughes, Morgan, Ireland, & Hughes, 2014). Employment is critical in an area as it helps raise the standard of living of the people due to a steady flow of income among community members as well as families.

The second advantage may include implementation of social change (Hughes, et al., 2014). Social change may be in the form of civilization or education. An entrepreneur who wishes to offer educational opportunities to the people of a specific community will be targeting a transformation of the social life of the public. People will acquire human civilization through education. Thirdly, social enterprises aid in the eradication of poverty in the society, thus improving the social status as well as the living standards of the people of a particular community. However, social enterprises may also have some disadvantages to the community as well.

Some of the disadvantages that come alongside social entrepreneurship may include lack of funding and other necessary support from the community or other stakeholders such as the government or donors (Hughes, et al., 2014). In the case of non-profit enterprises, inadequate funding and lack of assistance may be a disadvantage to the entrepreneur as they may suffer delayed goal achievement. Secondly, some social entrepreneurs may be selfish and may end up exploiting and misusing the members of the community as well as their resources. Other disadvantages that social entrepreneurs may face in their entrepreneurship planning include lack of support from the community. If the population does not endorse, the project, it might end up not according to the necessary support that would assist in sustaining the project.

Challenges Surrounding Social Entrepreneurship

Just like many other enterprises and organizations, social entrepreneurship also suffers several challenges. Secondly, the world of social entrepreneurship is relatively upcoming. There are a variety of problems that revolve around those that venture into the field of social entrepreneurship (Vanevenhoven, 2013). Firstly, the entrepreneurs are attempting to solve, make predictions as well as coming up with creative means of solving these problems. Social entrepreneurs often face theoretical, unpredicted, and research deficient issues, unlike the other business ventures which do not deal with speculative crises. Some of the most critical problems that these entrepreneurs face include overpopulation, fluctuating energy sources, shortage of food, lack of technical expertise, and several other challenges.

Another challenge that faces social entrepreneurs is risks that they might have to take to come up with valid enterprises (Vanevenhoven, 2013). Most entrepreneurs do not have the will of commencing or supporting ventures due to the risks. The second issue facing social entrepreneurship is the lack of entrepreneurs who are the foundation and crucial pillars of these social enterprises. The lack of entrepreneurs means that the social venture that was to be started to assist the people of a given social group will end up being sidelined.

The third challenge is the lack of proper funding for the non-profit enterprises that depend on grants from government and well-wishers and donations from the donors (Vanevenhoven, 2013). Lack of adequate funds is the primary reason why most of the social enterprises fail to succeed or remain to be projections that never turn to be true. When the funds that are necessary for setting up essential structures and other infrastructure for the social enterprises the project will not be successful due to lack of these basic structures and the success of the enterprise will not be achieved. Additionally, the lack of money limits the procurement of the labo...