Social entrepreneurship is the catalytic behaviour of social benefit
organizations that engender value and change in the sector, community, and
industry through the combination of innovation, risk-taking and reactiveness. It
has attracted growing interest from policymakers, young people, entrepreneurs,
funders, and established businesses. Significant advances have been seen in the
practice of social entrepreneurship without a commensurate surge in the
literature on the theory underlying the practice. The increased attention on the
practice has revealed a significant lack of cohesion in the area of social
entrepreneurship which has resulted in a stifling of the academic research
devoted to the social sector. As the demand and interest in social
entrepreneurship increases, it requires a comprehensive understanding of what
social entrepreneurship really is. Therefore, this paper tries to provide an in
depth discussion on the meaning, purpose, scope and the socio economic effects
of social entrepreneurship.
