Entrepreneurship: Becoming a Successful Social Entrepreneur

This document discusses the concept of entrepreneurship and focuses on social entrepreneurship. It explores the motivations behind social entrepreneurship and provides insights on how to become a successful social entrepreneur. The document also includes a concept plan for a social enterprise and discusses the importance of market research, target customers, marketing strategies, human resources, and operations.

Entrepreneurship

Table of Contents
Entrepreneurship..............................................................................................................................1
Introduction .....................................................................................................................................3
Task 1 Are you entrepreneurial or innovative. ...........................................................................3
Task 1 Social entrepreneurship and motivations to set social enterprise. ..................................4
Task 3 Concept plan....................................................................................................................7
Conclusion ....................................................................................................................................10
References .....................................................................................................................................11

Introduction
Entrepreneur is a person who set up a business to earn profit and take a financial risk for
development of their business. Social entrepreneur are working for welfare of society provide
quality products and services to their customers and poor people to develop their lives. Report is
going to show how to become a successful entrepreneur to develop their business. In this report
we have five themes and select one theme social entrepreneurship to prepare a project and also
prepare a concept plan on a selected theme like market research and target customer analysis and
also how to develop marketing strategy for their business. Needs to know the objective of their
business to develop at a large scale.
Task 1 Are you entrepreneurial or innovative.
Yes, I am an entrepreneur and want to become one of the successful entrepreneurs that
have ability to explore at a large scale. I am from a service class family and wants to become a
successful entrepreneur, my family is supportive and helps me to become a successful person.
Each and every person in my family is highly educated so they are able to cope up with my plans
easily and understand my abilities(Kirzner, 2015). I am living in a society where neighbours and
all of my friends are supportive and motivates me to develop my skills. I am coming from a
positive environment my mother always supports me and try to expand my abilities at a large
scale. I am not from an entrepreneurial family my father is working for a private company and
my mother is a teacher, I have an younger sister she is preparing for entrance exam in law
college. Preparing this project helps me to bring out my innovation and effective use of resources
that helps me achieve my goals effectively. Innovation helps me to develop leadership skills that
I required to control overall working of my organization. Need to prepare a product that have
ability to attract large number of customers towards my products and services and explore my
abilities at a large scale. Innovation bring out my effectiveness to toward completion of task and
explore my abilities to develop at a large scale. Need an decision making skills that helps me to
take a right step towards success of my start-up. Ability of organization and employees helps to
achieve goals and objectives on time. Needs to be creative while preparing a new product and

services for my customers(Kuratko, 2016). Time management skills are requires for
development of business at a large scale.
Task 1 Social entrepreneurship and motivations to set social enterprise.
Social entrepreneurship is a start-up to work for the welfare of the society after effective
analysis cultural and other issues in a society. Entrepreneurs start a organizations like NGO that
works for the welfare of society and poor people. This entrepreneurs are not concentrate towards
earning profit they work for welfare and development of society without charging a profit and
cost for that services. They work to establish a positive environment in society towards welfare
of people in an organization(Rawhouser, Cummings and Newbert, 2019). They are working for
poor people by providing them food, shelter and health care services. As an entrepreneur and
wants to work for welfare of organization open a restaurant and provide free food once a week to
poor people and provide job opportunities for poor people to develop themselves and also helps
to raise profit for restaurant. Entrepreneur needs to be creative to set goals towards welfare of the
society and and helps to solve problems of poor people. Social entrepreneurs fulfil their
responsibilities that helps them to become a important part of welfare of society and helps them
to achieve goals and objectives of business. Fulfilment of social responsibilities helps in welfare
of the globe. Organizations needs to develop their business for effective working and welfare of
society that helps them to achieve goals and objectives of their business. Social entrepreneurs
unsuccessful because they are not interested to earn profit but works for welfare of society.
Business needs to develop their effectiveness and abilities to expand their resources.
Entrepreneurs helps to improve education for people and develop their standard of living. Social
entrepreneurs are more happier then profit making entrepreneur and they are highly motivated
and proud on their own work and helps to develop business effectively and welfare of society at
a large scale.
Motivation to set social entrepreneur
More than good intentions
Social entrepreneurs are highly motivated and works for welfare of society to develop
their business. They want to complete their social duties like provide education to poor children,
shelter to leave and helps them to develop their future(Phillips and et.al., 2015). They are not
concentrated to earn profit but provide quality services to people for welfare of society. Provide

education helps in welfare of the society. Good intentions means provide goods and services at
affordable prices to backward sector of society.
Look outward not inward for motivation
Social entrepreneurs needs to fill happiness in life of other people. They try to fulfil
others life to develop their own life then its not good. Entrepreneurs need to work on welfare of
other people in society they need to be motivated towards welfare of society and feels happy to
help other people in society. Entrepreneurs need to work for people serve poor people then after
works for their own profit and welfare.
Efficient compassion
Entrepreneur needs to be care about problems of others. They have ability to feel other
suffering and make them their own problems and try to solve problems of those required people
that helps to keep motivated. Needs to work efficiently towards care of other people in society.
Listening to your own voice
Entrepreneur needs to listen to their own voice that they wants to work for welfare of
welfare of people in society. Their ability to explore and expand helps them towards working and
effective use of resources. They need to find solution from their own eyes towards welfare and
development of society. Needs to know the problems of other people by effective research it
helps them to analyse their overall working towards their effectiveness.
Results matter not mission or programs
Entrepreneurs needs to analyse result they get from working for welfare of society. Result
helps them to analyse their overall working(Chell and et.al., 2016). They get result by asking
people who they serve and develop effective use of available resources that have ability to
explore and develop their business. Needs to analyse their way to know their effectiveness to
reduce poverty. Actually needs to find ways that works and for welfare of their society. It helps
them to find new ways for development of people in society.
Plenty of room for new ideas
Entrepreneurs needs to build new ideas that helps them for development of society and
people at a large scale. Entrepreneur needs to find new ways to help poor people like they can
provide low interest loans to poor people for their development or to poor farmers, innovate
quality product for farmers at low prices which helps them to increase their productivity.
Drawing line between good and evil

Entrepreneur needs to build a line between good and evil. They need to get reed of greed
and works for welfare of poor people to make their life good. A line between good and evil helps
them to analyse their overall working and helps them to work effectively towards welfare of the
society.
Giving back is a motivation
Entrepreneurs need to build a filling to give back towards welfare of society. Not only
think about their own welfare they need to work for development of poor people. Helping others
helps them to feel good and build positive vibes in their own working and helps them to develop
at a large scale with ability to expand new things.
Bring happiness
Working for welfare of poor people help entrepreneur to bring happiness in their life and
helps them to motivate towards working for society(Estrin, Mickiewicz and Stephan, 2016).
Entrepreneurs needs to develop life of people from village like proper sanitation, water and
houses for poor people are need to be prepared.
Inspire by real life experience
Entrepreneurs needs to analyse stories of people who are working for welfare of society
and helps them to develop their business at a large scale improve abilities to develop standard of
living. They need to develop opportunities that helps them to expand their abilities and effective
use of resources at a large scale. Real incidents of some entrepreneurs needs to be analysed to
develop their own abilities at a large scale.
Tap into your strength
Entrepreneur needs to analyse their own strength that helps them to achieve goals and
objectives of their own business. They need to set goals for accomplishment and try to get
effective results that helps them to motivate towards welfare of society. Entrepreneur needs
confidence on their work to helps others.
Surround yourself with minded people
To become a successful social entrepreneur one needs positive vibes all around for that a
person needs to be in touch with a people who are working for welfare of society help poor
peoples to develop new opportunities. Minded people give their views and feedback towards
plan and helps to establish business at a large scale.

Task 3 Concept plan
Introduction
As an social entrepreneur needs to develop enterprise that have abilities to develop
society and works for welfare of society. Being an entrepreneur large number of opportunities
are available for welfare of society(Rey-Martí, Ribeiro-Soriano and Sánchez-García, 2016).
Social responsibilities help organization top achieve their goals and objectives and improve their
effectiveness and abilities. As an social entrepreneur needs to develop life of poor people and
increase their standard of living. Social enterprise tries to solve problems like unemployment,
security to poor people provide them standard of living. Social entrepreneur seek for opportunity
to make a positive impact on society. They find opportunities to provide healthcare, and
minimize poverty. They find opportunity to solve problems and to achieve stability in funds for
their business.
Objective
As a social entrepreneur main aim is to provide standard of living to poor people develop
their lives, increase employment opportunities for poor people. Try to solve environmental issues
and maximize growth of poor people. Their main objective is to support poor people and try to
create jobs for people towards welfare of the society. They aim to improve society by providing
quality products and services to their customers. Their objective is to make themselves
innovative for development and welfare of society provide products and services with creativity.
Aim is to develop strategies to maximize their impact for development of the society. They
works effectively to bring change in society that helps poor people to develop their lives. Needs
to be effective that helps organization to achieve goals and help in development of organization.
Market research
Enterprise needs to develop a market research that helps them to analyse poor people who
require their services(Barki and et.al., 2015). Market research helps them to analyse people who
have no resources to fulfil their daily needs. They need to analyse their users who are use their
services and competitors for their products and services. Primary research helps me to analyse
people on my own by taking survey for people to know their wants and desires. Primary research
help to collect exact data of poor people. Secondary research means online surveys or data from
other NGO. Competitors need to be analysed to know effectiveness of their product and services
to fulfil wants of customers and their ability to explore their business.

Target market or customers
All poor people who need help for their development and have no income source to fulfil
their wants and desires. Enterprise need to segment market in different parts and analyse those
people who need their help for development. All people who are unemployed and have no
resources to fulfil their daily needs are target customers. Enterprise need to analyse requirement
of poor people to fulfil their basis needs. Needs to look for methods to develop products and
services for customers. People who are unable to afford their education are customers of social
enterprise. People who have no shelter to leave are customers of enterprise and they try to fulfil
requirements of this people. Try to get customers involve from your strategies.
Marketing
Marketing is require to attract large number of customers towards product and services
that help organization to achieve their goals and objectives. Enterprise needs to develop an
effective strategy for their product to engage large number of customers towards their product
and services and helps them to develop their business at a large scale(Terjesen, Bosma and Stam,
2016). Needs to communicate effectively with poor people to develop their business at a large
scale. For effective marketing enterprise needs to know their customers to fulfil their wants.
Needs to plan actions and implement those actions for development of their society. For success
of their marketing campaign company needs to combine their products and services according to
wants and desires of their customers.
Human resource
Human resource is about people and works for welfare of people and prepare strategies
for development of organization. To hire employees for social enterprise organization need to
provide clear description about the role of an employee, needs to give clear job description to
their employees, fix the salary as social enterprise have less interest in earning profit for
development of their society. To be effective company they need build a culture of learning in
their organization, needs to improve performance for development of society. Adapt new
innovation to work effectively for poor people. Enterprise needs to praise efforts of employees so
that they work effectively in an organization towards their success.
Operations
To become a successful social enterprise company needs to develop business model that
helps them to analyse value for their business by using business canvas model.

Create value
To start business operation company needs to know who their customers are needs to
know their income level and their requirement to fulfil wants and desires for their product and
services. Value for business is created by providing healthcare, education to poor peoples for
their development.
Delivering value
They need to the resources are required to deliver their services to the customers who are
in need(Rahim and Mohtar, 2015). Need to analyse physical, human and financial resources
required to fulfil that task. They need employees those have skills to deliver their services to
customers.
Capturing value
After all services provided to customers company needs to capture value for their
products and services. For an social enterprise customer needs to be happy with their product and
services and able to fulfil their wants and desires then they are able to capture value for their
product and services.
Legal issues
Government rules and regulations are become one of the main problem for development
of social enterprise. To develop a social enterprise they need to register their enterprise and face
many challenges to register their enterprise. Government tax policies and regulations towards
social enterprise impact their working at a large scale. Legal structure provide security to an
enterprise but registering legally firm faces many challenges. Legal issues become a problem for
smooth working of social enterprise.
Financial
Funds are required for smooth working of each and very enterprise and they need to
develop their business to accomplish their skills and abilities for their business at a large scale.
Social enterprise faces many problems while raising funds for their organization for smooth
working and development of their business at large scale and needs to work effectively for
development of their business. Because it is non profit making organization and investors would
not like put their money for their working(Goyal, Sergi and Jaiswal, 2016). They get large
amount as fund from charity to develop their business. Government also grant loans and services
to social enterprise to develop their business at a large scale.

Risk, contingency and exit strategies
Because they are non profit making organizations and incur large number of risk for
development of their business and needs to achieve goals and objectives of their business at a
large scale and tries to develop their business effectively at a large scale. To explore their
business they need to attract large number of customers towards their products and services to
increase their reach at a large scale. Risk reduces overall development of business. Because large
number of competitors are available then it effects overall working of an organization.
Other issues
Large number of competitors are available in market for social enterprise and effects
overall business of organization and plays and large impact on development of organization.
Needs to manage diversification it effects overall working of enterprise. To collect funds are one
of the most important factor for smooth working of an organization. Needs collaboration for
development of their business and it becomes tough for them to collaborate with other people in
an organization. To develop a social purpose for welfare and development of society become a
reason for development of organization at a large scale.
Conclusion
Report shows to become a successful entrepreneur you need to develop large number
skills and need to develop personality to achieve goals and objectives of their business. Social
entrepreneur works for welfare of society and tries to fulfil wants of their customers. An
entrepreneur need motivation to develop their business at a large scale and need to develop
effectiveness of their business to achieve goals and objectives. Concept plan helps to analyse
overall working of a theme.

References
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