Question

would it be easier or harder to create a sustainable business venture with a social entrepreneurship idea? Why?

350 words minimum.

Answer 1

I believe that the key to a suitable business is based around the understanding of social entrepreneurship and how everything a company does has an impact over the understanding of its value, its ethics, and operational principles. We have ushered into an age of globalization, where some businesses are as big as a small country. It would not only imply that the need to govern out functions exist, it would also mean that how we operate, how it impacts the environment, benefits the society at large and how it adds value to the aspect of our future considerations can become the reasoning behind why some businesses have now turned towards social entrepreneurship as the basis for their undertakings.

The society has now become aware of the issues that relate to the environment. Increased mass production and consumption have already cost the environment to degrade to the point of no return and it the businesses continued operating at their current speeds creating the need to recognize the immediate threat which is environmental degradation. Concerning business operations in mind, we can say that the need to adhere to ethical principles, accepting the factors of responsibility and accountability and creating a better outlook is now expected from most businesses. There needs to be a point of equilibrium which needs to be achieved between use and sustainability and therefore, a social entrepreneurship idea is both a requirement and a commitment that entrepreneurs need to make to realize the difference between short term profit and long term sustainable growth and development.

How a brand is perceived in the market by the customers has more to do with its brand image than its offering, and therefore, the real value resides in achieving a creative balance between social responsibility and stakeholder accountability. But, while it would be hard to create a business venture based on the principles of accountability and sustainability, an entrepreneurial endeavor can make use of a social entrepreneurship idea and outlook to manage the interests of their stakeholders and maximizing shareholder value by continually adhering to its principles in the long run.