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  • Essay / Social entrepreneurship and South Africa - 1483

    On a social level, entrepreneurship empowers citizens, generates innovation and changes mentalities. These changes have the potential to successfully integrate developing countries into the global economy. Economically, entrepreneurship stimulates markets by not always inventing or producing new things, but by introducing and exploring new and better dimensions. The creation of new businesses leads to job creation and has a multiplier effect on the economy as it leads to economic growth and expansion; social entrepreneurs serve as many examples of motivation, determination, selflessness and ability, especially among the younger generation, seeing others succeed in their own businesses and have a positive impact on society can encourage other young people coming up with great ideas and trying to solve societal problems. In addition to contributing greatly to job creation, growth in productivity rates and added value, Gielnik MM and Frese M. (2013), Entrepreneurs create and bring to life new technologies, products and services and create new markets and jobs along the way. Entrepreneurs are smart risk takers, doers and rule breakers; or in a word; innovators who can and do contribute to the growth of the South African economy. Entrepreneurs produce solutions that go against established knowledge, and they always challenge the status quo, they always come up with better and more effective ideas. They are risk takers who look for opportunities that others might not recognize or even view as problems or threats. Social entrepreneurship can play an important role in the development of South Africa. Social entrepreneurship encourages community building between different groups of people, which in turn can facilitate...... middle of article ......cin P., Dacin M. and Matear (2010) advise social entrepreneurs to be careful not to lose their original vision and be tempted to shift their attention from helping society to accumulating wealth. Dees (2007) suggests that emphasis should be placed on developing conditions conducive to harnessing talent for social purposes. Social entrepreneurship can be used as a strategic tool. approach to increasing equality in South Africa, it can also help address the social deficit by providing essential social services, such as healthcare and education, to those who do not have access to them. As such, it can be argued that by working in line with government efforts for a better South Africa, the social entrepreneur can increase social capital within society. The social entrepreneur can also create environmental value; an increasingly important aspect necessary to achieve a sustainable society