{"id":221,"date":"2014-01-30T17:04:01","date_gmt":"2014-01-30T17:04:01","guid":{"rendered":"http:\/\/scqa.hult.edu\/en\/news\/hult-labs\/2014\/january\/the-emergence-of-social-entrepreneurship\/"},"modified":"2026-05-06T15:27:45","modified_gmt":"2026-05-06T14:27:45","slug":"the-emergence-of-social-entrepreneurship","status":"publish","type":"post","link":"https:\/\/www.hult.edu\/blog\/the-emergence-of-social-entrepreneurship\/","title":{"rendered":"The Emergence of Social Entrepreneurship"},"content":{"rendered":"

Social entrepreneurship blends traditional capitalism with the imperative to address the planet\u2019s most pressing problems. And even if you are already familiar with the term and concept, you may not know that we can attribute full credit to one person for articulating what it is\u00a0exactly<\/em>: Professor Gregory Dees. In 1998, the professor of business published an article titled “The Meaning of Social Entrepreneurship,” and it essentially set the foundation for what social entrepreneurship means as a field of study today.<\/p>\n

As for why this area of study\u2014and legitimate career path\u2014has become so incredibly popular, all we have to do is read Dees own words to understand why social entrepreneurship first began gaining traction in the business community 16 years ago. He wrote, \u201cThe idea of \u2018social entrepreneurship\u2019 […] combines the passion of a social mission with an image of business-like discipline, innovation, and determination […] Many governmental and philanthropic efforts have fallen far short of our expectations. […] Social entrepreneurs are needed to develop new models for a new century.\u201d He identified a strong societal need (filling the gaps left by government and philanthropic enterprises) and a new approach to address that need in a clear and concise way.<\/p>\n

Dees acknowledges that social entrepreneurship, as a concept, is nothing new. He states in his article that \u201cwe have always had social entrepreneurs,\u201d even if we didn\u2019t use those two words to describe the core philosophy behind it, or the people engaged in it. But Dees also offered up the notion that social entrepreneurs are essentially \u201cchange agents in the social sector\u201d in these five critical ways (which I have modified slightly for this post):<\/p>\n

\u2022 \u201cThey adopt a mission to create and sustain social value (not just private value);<\/p>\n

\u2022 They recognize and relentlessly pursuing new opportunities to serve that mission;<\/p>\n

\u2022 They engage in a process of continuous innovation, adaptation, and learning;<\/p>\n

\u2022 They act boldly without being limited by resources currently in hand, and<\/p>\n

\u2022 They exhibit heightened accountability to the constituencies served and for the outcomes created.\u201d<\/p>\n

Just 10 years ago, six years after Dees first published his article, Simoney Kyriakou writes in the article \u201cSocial Entrepreneurship and the MBA<\/a>\u201d that students may have typed the term \u201csocial entrepreneurship\u201d in a web browser only to come up with a thousand or so hits. But not anymore: \u201cToday, that figure is nearer 100 million,\u201d writes Kyriakou. Why the huge difference? Some postulate that social entrepreneurship\u2019s popularity surge has a lot to do with the financial crisis a few years ago. In 2010, a survey conducted by GlobeScan showed that 53% of Americans said they still believed in the free market system, which was much lower than the 80% who asserted their confidence in the system when surveyed in 2002.<\/p>\n

As the dust from the economic collapse settled, people\u2014from economists to consumers to business leaders\u2014looked for the root causes of the crisis, and it prompted some introspection. Born out of this were debates and discourses that took a closer look at concepts like ethics, finding meaning in one\u2019s work, and philanthropy. At the same time, academics and economists were gathering data that showed that social entrepreneurship can work as a business model\u2014and that data has only grown. Writes Kyriakou: \u201cTime has enabled the collation of measurable results that prove social enterprises can be both profitable and socially effective.\u201d<\/p>\n

Business schools have listened to students and developed curricula to address the subject area, especially as students have elected to incorporate elements of social entrepreneurship in their career aspirations, or follow the path completely\u2014wherever it leads. But perhaps there should be a few more caveats in the classroom as to what can lie ahead. Writes Kyriakou: \u201cIncorporating social entrepreneurship into MBAs has given many students the skills they need to put their ideas into action. However […] An MBA is not a pass to immediate success. Graduates will still face issues such as debt and some will fail.\u201d The rules of business still apply, even if part of a business\u2019 vision is to \u201cdo good\u201d and find solutions for impossibly complex problems.<\/p>\n

Still, caveats need not throw water on the fire. In their article \u201cThe Rise Of Social Entrepreneurship Suggests A Possible Future For Global Capitalism,\u201d Richard McGill Murphy and Denielle Sachs write that the collaborative approach inherent in social entrepreneurship \u201coffers intriguing hints about how enterprises of all sizes can deliver value for themselves and society.\u201d They quote Pamela Hartigan, director of the Skoll Centre for Social Entrepreneurship at Oxford University as saying, \u201csocial entrepreneurs are mad scientists in the lab.\u201d They\u2019re harbingers of new ways of doing business.\u201d Professor Dees probably knew he was onto something back in \u201998, but he probably didn\u2019t know it would grow into the dynamic, problem-solving field it\u2019s become.<\/p>\n

Picture courtesy of Flickr’s\u00a0Potential Past<\/a>.<\/p>\n

\n

If you would like to find out more about Hult\u2019s global business programs,\u00a0download a brochure here<\/a>.<\/strong><\/p>\n

\n

Grow your leadership capabilities with an MBA in international business<\/a> at Hult. To learn more, take a look at our blog Opportunities and entrepreneurial spirit: Looking at Africa\u2019s role in the global economy<\/a>, or give your career a boost with our Masters in International Business<\/a>. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself.<\/p>\n","protected":false},"excerpt":{"rendered":"

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