Essence and Examples of Social Entrepreneurship

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Table of Contents

Introduction
Components of Social Entrepreneurship
Middle East: Examples of Social Entrepreneurship
Social Entrepreneurship and Saudi Vision 2030
Women and Social Ventures in Middle-Eastern Countries
Conclusion
References

Introduction

Establishing a business is connected with risks, especially when it is a new enterprise in culture, ecology, the social sphere, and other branches, open to modern trends. If economic ventures are connected with innovations, the enterprise belongs to social entrepreneurship. The problem of the development of this economy branch is burning nowadays because it may help apply innovative methods in various fields and assist economic transformation.

The key part of this kind of enterprise, according to Kickul and Lyons (2016), is the targets. The main aim of social entrepreneurship is not gaining profit but solving socially important problems, which, due to political, economic, or ideological reasons, cannot be coped with by the government. Kickul and Lyons (2016) point out that other necessary components of this business are innovation and change. Entrepreneurs suggest a solution to a problem, for example, stopping deforestation, and use the capital at their disposal to put the ideas into practice.

It is worth considering how social entrepreneurial ventures function in the countries of the Middle East because, for the region, this sector is relatively new. According to Jamali and Lanteri (2016), the Ana Masry foundation, Egypt, set a target of educating the nation about Egyptian history. For this purpose, the organization prints books and holds cultural events around the country. Another vivid example of successful entrepreneurship is the Lebanese association called Alfanar, which has been implementing educational programs and organizing philanthropic events. One more instance is Craft Draft Business in Fez, whose main goal is to popularize and promote Moroccan national culture. All these associations can be called social as they concentrate on solving social problems.

According to Nurunnabi (2017), one of the main objectives of Saudi Vision 2030 is to give impetus to the field of public service. In this respect, Saudi social enterprises can contribute to Vision 2030 in the following way. Firstly, they may hold cultural events with national colorings, like concerts, festivals, competitions, etc., which will attract tourists from all over the world and bring income to the country’s budget. Secondly, social enterprises may solve problems, connected with health care. They may operate non-commercial funds for developing cancer treatment, for instance. Thirdly, they can contribute to education development by holding various courses, especially in the fields where Saudi Arabia lacks specialists.

Jamali and Lanteri (2016) give plenty of examples of women from the Middle East who show that to take a leading role in starting and managing social ventures, one needs to develop initiative, courage, and creativity. Further on, one needs to be open to new ideas and exchange experience with colleagues not only from the Middle East but, also, from western countries. Finally, to be a social entrepreneur, a woman should be interested in a social issue and have ideas about how to solve it. For this purpose, it is desirable that she has a degree in business or management.

Conclusion

One can conclude that social entrepreneurial ventures are of huge importance. It is especially true for such countries as Saudi Arabia, which need to modernize their national economies in accord with the demands of the century. Social enterprises can contribute to Saudi Vision 2030 in such spheres as tourism, education, and health. Finally, it is possible for women to be leaders of social entrepreneurship in the Middle East. For this, they need to be interested in a social issue, educated, ambitious, creative, and open-minded.

References

Jamali, D., & Lanteri, A. (Eds.). (2016). Social entrepreneurship in the Middle East (Vol. 1). Hampshire, England: Palgrave Macmillan.

Kickul, J., & Lyons, T.S. (2016). Understanding social entrepreneurship: The relentless pursuit of mission in an ever changing world (2nd ed.). New York, NY: Routledge.

Nurunnabi, M. (2017). Transformation from an oil-based economy to a knowledge-based economy in Saudi Arabia: The direction of Saudi Vision 2030. Journal of the Knowledge Economy, 8(2), 536-564.

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Introduction

Components of Social Entrepreneurship

Middle East: Examples of Social Entrepreneurship

Social Entrepreneurship and Saudi Vision 2030

Women and Social Ventures in Middle-Eastern Countries

Conclusion

References

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