Critically compare and contrast Commercial entrepreneurship and social entrepreneurship using the following dimensions of Responsible Leadership (RL). RL is a relatively new paradigm that examines existing leadership against ● higher-order strategy, which is concerned with:
d. decision making, and
e. acting in an appropriate manner.
● sustainability, which is a key aspect of Responsible Leadership and is concerned with: f. transparency,
g. observing community obligations,
i. fair treatment,
j. managing negative impacts of the work process and
k. demonstrating humanity.
(Rose, Gordon & Hattingh 2010)
A useful text regarding the new construct of Responsible leadership is J Doh, & S Stumpf, (eds.) 2005, Handbook on responsible leadership and governance in global business, Cheltenham UK, Edward Elgar Publishing.
Appendix to your essay.
You do not have to provide any explanation for your allocation of points between the two types of entrepreneurship. This is obtaining your perspective after reflecting on your critical comparison and contrast of the two types of entrepreneurship against the particular dimensions of responsible leadership.
You should include an appendix in the following manner and allocate 10 points between Commercial entrepreneurship and Social entrepreneurship for each of the dimensions noted Your allocation should reflect how strongly you rate the relevance of each of the dimensions to the two forms of entrepreneurship. Please note that you may also include additional dimensions of responsible leadership that your literature review may uncover. I have shown a possible distribution of the 10 points for how one may decide to allocate the 10 points between the two forms of entrepreneurship for demonstrating humanity. You must do this for all of the dimensions stated above and for additional dimensions of responsible leadership that you uncover in your search of the literature.
In the modern era today, entrepreneurship is more than merely operating one’s business, but a profound skill set that one uses to transform innovations into economic goods or services through his/her innovation, finance and business acumens (Shane, 2003). Whether a multinational corporation or small medium enterprises, every organization starts from ground zero, and the entrepreneurship skill of the leader often determines the future and success of the business.
Entrepreneurship has been the propeller of global economic and the driving force behind all business growth (Shahidi & Smagulova, 2008). This analysis will critically compare and analyze social entrepreneurship with commercial entrepreneurship against the dimension of Responsible Leadership, highlight the similarities and differences, each type of entrepreneurship’s emphasis and respective implications to the economic and practitioners.
Social entrepreneurship is defined as the entrepreneurial activity with social purpose as its embedded goal (Hemingway, 2005). It is usually started by recognizing a social problem, and then to create and manage a social venture using entrepreneurial principles to achieve social change. Unlike commercial entrepreneurship where success is measured by profitability, social entrepreneurship emphasizes on its contributions towards the community. Many global NGOs and charitable organizations are typical examples of social entrepreneurs. (Borzaga & Defourney, 2001)
Commercial entrepreneurship, in contrast, is the conventional entrepreneurship with profitability as the ultimate objective. These organizations usually started by identifying a market demand of product or service, innovate and fulfilling these demands, at the same time generating profits. (Austin & Stevenson, 2006). These profits are often invested and used for expansion, contributing the...
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