A plethora of researchers has dominantly kept their focal point on the concept of socialentrepreneurship and its economic development and sustainable aspect, but very few studies have been carried out which solely emphasized the youth and socialentrepreneurship in Bangladesh. This study aims to explore the factors associated with the perception development of socialentrepreneurship intention among business school graduates in Bangladesh. Primary data has been collected by using a structured questionnaire on 350 respondents and analyzed by using Spearman correlation. This study revealed most of the young graduates chose to participate in socialentrepreneurship since it allows them to be independent and help to fulfill their social spirit. They also perceived that socialentrepreneurship as a respectable and noble career. Interestingly, they also considered that job as risky and seems like take the advantage of other difficulties or poverty. They are also do not get family support to do social business because they perceived that socialentrepreneurship is only for people who cannot get the desired job.
Renko (2012) stated the early challenges in building an enterprise with the social mission. The studies focussed on the motivations of nascent entrepreneurs that are directed at creating social changes or addressing social needs. The study was based on the sample derived from the panel study of entrepreneurial dynamics data set. The organizational emergence was used as dependent variable where as prosocial motivation, novelty to the market and time invested in the venture by team, were the independent variables. The study controlled variables such as money invested in the venture, team size, high technology business, necessity motivation and gender. The results showed that those nascent entrepreneurs who enter the start-up process with social goal are less likely to succeed in building viable organizations. Seelos and Mair (2005) stated the meaning of socialentrepreneurship using three case studies which were related to the institute for Oneworld Health (USA), Sakem (Egypt) and Grameen bank (Bangladesh). The paper also contributed by linking socialentrepreneurship to sustainable development goals and corporate social responsibility. The paper explained the interface between socialentrepreneurship, corporate social responsibility and public institutions that offers great potential for discovering new forms of collaborative value creation in support of sustainable development. Shane and Venkataraman (2000) created a conceptual framework for the entrepreneurship field by using previous research conducted in the different social science disciplines and applied field of business. The paper explained a set of empirical phenomenon and predicted a set of outcomes not explained by earlier researches conducted. The conceptual framework is based upon identifying the existence, discovery and exploitation of entrepreneurial opportunities.
The Fiji Cooperative Department identified 398 enterprises throughout the Republic last year. Most of them are doing well given the business problems of Fiji. There are many examples of cooperative efforts that are community-owned and controlled - where development decisions are made by local people and not simply well- intentioned outsiders with "neo-colonial" type of local interests. The idea of community-based economic development has been generally considered by those in the field of development to involve the infusion of outside monetary and technical support. However, this generally has not reversed poverty in any significant way--- in fact, poverty is worse today. The gap between rich and poor continues to grow (Narsey 2008). Encouraging local people to become competitors in the "global economic order" or globalization is misguided. Instead, we need to help build up local cooperative economic networks that help to create local people's banks to reinvest capital. Capital can be "turned" in a local community to revitalize the local economy. The Grameen Bank inspired and grounded by the Noble Prize laureate Yunus Mohammed of Bangladesh mentioned earlier is an inspiration to this world. The Bolivian Pro Credito established in 1986 and Pro Mujer for Women in 1991 make interesting reading and inspiring.
One of the major objectives of this study was to find out banks compliance with the Bangladesh Banks rules and regulation on women entrepreneurs. We have found that out of 150 bank branches, 144 branches have dedicated desks for the women entrepreneurs. However, only 29 of the branches have women headed desks. This is creating significant obstacles for WEs due to social barriers that prevailed in rural and urban areas. Given the time lag for disbursement of the loan, it was observed that 54.1 percent of the total women entrepreneurs got a loan within one to two weeks after submitting a complete loan application. The main reason for the delay in loan disbursement is complicated terms of conditions for loan processing that includes mortgages, trade license, CIB report, etc. Other problems include a centralized system for loan approval, delay in client and land verifications, evaluation of assets of the clients, etc.
11. Output 2: Advocacy initiatives for enforcement of gender-responsive regulations and policy reform implemented.
i. Advocacy for the enforcement of gender-responsive regulations. In March 2008, the
Central Bank of Bangladesh (Bangladesh Bank, hereafter BB) issued a circular to scheduled commercial banks to promote small- and medium-sized women entrepreneurs' access to institutional and financial facilities at easy terms and conditions. In this context, and limitedly to the subproject area, the subproject will: (a) identify and document current practices adopted by scheduled commercial banks and non-banking financial institutions identified by BB 10 to comply with its gender-responsive provisions set out by the Bangladesh Bank; and (b) support advocacy with selected banks and participating financial institutions (PFIs) to open women entrepreneurs' dedicated desks and orient officers; (c) develop a gender responsive training program in collaboration with the existing bankers' training institutes to strengthen participating banks officers' mind-set and skills to review proposals for funding eligibility; and (d) provide legal literacy and aid services to women entrepreneurs and associations to address regulatory and administrative impediments in accessing financial resources and services [i.e. land titling, collateral, business licensing, registration and taxation-related issues].
Generally, financial institutions and banks extend credit for women under micro credit programs for poverty reduction. Based on the cost of the fund, the interest rates of these credits vary. For this purpose mainly donor supported project funds are used. Bangladesh’s central bank, the Bangladesh Bank, also provides some funds. The Bangladesh Bank directs the commercial banks to lend at least 15 percent of their lending capital for the industrial sector, while 5 percent are expected to be spent for the small- scale industry (SCI) sector. Often development agencies operate these loans. Furthermore, as pointed out by an undated paper by the Dhaka Chamber of Commerce and Industry (DCCI) (p. 10), other than for poverty reduction project loan, there is no special regulation for credit for women entrepreneurs. 2
women's entrepreneur class has risen in the country taking on the challenge to work in a male-dominated, competitive and complex economic and business environment. Women entrepreneurs have improved their living conditions and earned more respect in the family and the society (Braun, 2011). The progress has been attained due to government policy supports and involvement of financial institutions (governmental and non-governmental institutions) along with other support services. Bangladesh Bank (central bank of Bangladesh) issues policy guideline for scheduled banks to give priority to women while disbursing Small and Medium Enterprise (SME) credit. Meanwhile, good number of NGO-MFIs offers microfinance services to the women involving actively in micro, small and medium enterprises. According to BBS report, women access to land, credits and other property (beside land) has improved gradually with the point of 0.80, 0.30 and 0.50, respectively which implies that women are getting more access to loans than other assets (BBS, 2009). In fact, these resource mobilizing institutions motivated and encouraged rural women, and made them entrepreneurs, that is, agricultural entrepreneurs (crops, livestock and fisheries), small business owners, tailors, handicraftsmen and so on (Rahman et al., 2011).
Guclu et al. (2002) state that every new venture idea is implemented in a distinctive operating environment. Assumptions about the markets, industry structure, the political environment, and the culture, will be made by most ventures. Markets refer to the intended users or clients, as well as the third party payers, donors, volunteers, and workers, therefore, social entrepreneurs ought to have a plausible value proposition for each market or stakeholder group. Within the industry structure are alternative providers, potential collaborators or partners, crucial complementary services, potential substitutes, and key suppliers. Specific requirements, and various potential sources of public support or resistance, form part of the political environment. The culture is defined by the dominant values of the people in the intended operating environment, as well as the behavioural norms and relevant sub-group cultures. Due to the dynamic nature of the operating environment, social entrepreneurs need to be sensitive to the window of opportunity. Furthermore, as social entrepreneurs develop their ideas into worthwhile opportunities, they need to consider personal fit, explained by the three categories: 1) commitment, 2) qualifications, and 3) stage of life.
using the least resources, ability to lead and develop others, ability to make decisions based on relevant information, understanding moral obligations, ability to communicate with customers, suppliers and other stakeholders, paying more attention to social benefit than financial benefit, building effective teams, logistics and technology management, cultural awareness, willingness to accept risk, commitment to help the poor, employee management, providing support for society, empathy, positivism, interpersonal communication, commit- ment to a collective goal, believing in success in challenging tasks, conflict resolving skills, social skills, volunteer support development and executive tasks management.
Social enterprises are unique in their search for economic solu- tions to societal problems. They combine economic efficiency with ethical norms and develop new business concepts to fight social bottlenecks. In facing global challenges like climate change or migration, these skills are increasingly required by nonprofits and businesses. Solutions are no longer to be found on your doorstep. The need for intercultural co-operation, innovative projects, and new thinking calls for leaders who adapt quickly to new circum- stances and are able to overcome cultural differences.
materials from West Pakistan. But they needed loans from financial institutions for establishing this kind of industry. At first their father did not give permission to take loan as most of the businesspeople were used to be very much conservative about taking loans and they did not like doing business with borrowed money. Yunus and his brother could convince his father and took loan from Industrial Development Bank of Pakistan. They started the business in 1964. They hired some skilled printers from West Pakistan and recruited 100 labors in the factory. They used to produce the packets of cigarettes, medicines, cosmetics and they used to print calendars also. In 1965, Yunus was awarded a Fulbright scholarship and he went to the USA for his Ph.D. and his brother started running the business alone. He received his Ph.D. from Vanderbilt University, Nashville, Tennessee. He got married there. He came back to the newly born Bangladesh in 1972. He got a job in Government’s Planning commission. But this job could not attract him as he did not get any scope of applying his talent and education. He left the job and he joined as the head of the Economics Department at Chittagong University in 1972. In 1974 he led his students on a field trip to a poor village. They interviewed a woman who made bamboo stools. It was found that this woman had to borrow an amount of 15 paisa to buy raw bamboo for each stool made. She used to make a very small amount of profit, as she had to bear a huge amount of interest expense (sometimes 10% a week). Dr. Yunus found that it was the disadvantageous rate of interest that made this woman poor. He, from his own pocket, lent the equivalent of £ 17 to forty-two basket-weavers. He found that these people got motivated with this loan and they survived with this tiny amount. Yunus carried on giving out 'micro-loans' though he did not get much support from the Government and other banks. According to Amin (2007), at first Dr. Yunus did not have any interest to leave the teaching job and start banking, rather he wanted the other banks to take over his activities and run smoothly. But the banks did not rely on this concept of giving loans to the very poor people. As the banks did not change their mind, Dr. Yunus formed Grameen Bank himself. The Grameen Bank Project came into process with the following objectives (as per www.grameen-info.org):
entrepreneurs are repeatedly molested and given fewer opportunities by the male community to build up their entrepreneurial skills to run their enterprises smoothly (USAID, 2011). Without being afforded the necessary combination of education, training and social security as well as social awareness, female country entrepreneurs cannot make transition to enterprise business (MIDAS, 2009, p.106). Studies prove that less than 13% of the enterprise development program trainees are women in Bangladesh (Finnegan, Human Development in South Asia, cited in Sinha, 2005, p.05). Other research shows that among the seven countries in South Asia, the percentage of females enrolled in secondary vocational education is the highest in Pakistan, while in Bangladesh it is the second lowest position. (Haq, cited in Sinha, 2005, p.17). So, it is clear why the poor women entrepreneurs of Bangladesh are still in a backward situation. On the other hand, family responsibilities such as household work, looking after children and caring for elders prevents them from gaining skills and knowledge properly and thus, they usually cannot find the appropriate time to be more proficient. Again, male entrepreneurs do not have to worry as much about their household duties as the female entrepreneurs do.
The socialentrepreneurship is most applicable in nations which have developmental issues. India being a developing nation has its own social challenges and social developmental issues. Socialentrepreneurship can resolve all the social inequalities which are prevailing in India. In recent times, some startups/new ventures has developed keeping social interests in mind and providing sustainable solution to social issues and earning their profits as well. Since the nature of profit is all, this makes the difference in economic and socialentrepreneurship. Socialentrepreneurship in India has wider scope than economic entrepreneurship. The need of socialentrepreneurship in Indian context is a very vital as well, as most of the products and services are focused at the higher end customers and the people who have limited means are deprived from their needs due to lack of resources. Socialentrepreneurship takes cares of this deprived section of market and provide goods/services to them at their terms and conditions. Such society needs fulfilling becomes very challenging as well, due to no or less profits to begin with. There are many examples where people have opted for socialentrepreneurship than economic entrepreneurship, government and other factors have played a lot in doing so. Where ever the societal gaps are wide and societal inequalities are persisting, socialentrepreneurship becomes very relevant like in India. Following are arguments which cement the needs for socialentrepreneurship in India and places like India all over the world. Following are the contribution made by socialentrepreneurship in India-
This section distinguishes between social entrepreneur- ship and other non-entrepreneurial, mission-driven initi- atives. As discussed earlier, the term socialentrepreneurship is becoming more popular and is attract- ing growing amount of resources. It is frequently observed in the media, used by public officials, and is commonly re- ferred to by academics. This is in part because of the sup- port social entrepreneurs are receiving from complex network of organizations that highlight their work and contributions to society (Dacin et al., 2011; tinyurl.com/ 7a9bh9d ). However, the lack of consensus on the definition of socialentrepreneurship means that other disciplines are often confused with and mistakenly associated with so- cial entrepreneurship. Philanthropists, social activists, en- vironmentalists, and other socially-oriented practitioners are referred to as social entrepreneurs. It is important to set the function of socialentrepreneurship apart from oth- er socially oriented activities and identify the boundaries within which social entrepreneurs operate.
To this standard model, we add two social norms that are prevalent in many developing countries. First, women, contrary to men, have domestic obligations (like cleaning, cooking, taking care of children), which limit the amount of time that they can dedicate to their businesses (including, for example, time for business networking). Second, women have access to less capital than men, since they have less collateral. Several studies present
The need to raise public awareness of socialentrepreneurship has been adopted by respondents in respect of the preliminary versions of the awareness campaigns organized by public authorities or non-governmental organizations; brochures, books and other materials; TV spots, etc.; informal training. The additional options given by some respondents stress on the importance of social networks and sharing good examples, as it is stated a focus on the most early school education and the need for individual approaches again. Consideration of the most significant barriers to the development of socialentrepreneurship focuses on funding opportunities and the lack of government policies pursued by the lack of knowledge and lack of legal structure (Table 4). Local business environment, credit access, public perceptions, market access and the absence of consultants also solidified their place among the major problems. The additions made focused on the heavy bureaucratic environment, the lack of desire for socialentrepreneurship, lack of public interest and a lack of entrepreneurial culture. Among the needs and opportunities to support social enterprises the survey emphasizes on training, funding, legal framework, consulting and entrepreneurial orientation (Table 5). Good results are also acquired in terms of promoting access to public procurement and inspiration. Among the additions made possible options are those associated with public interest and support, public awareness and change of thinking. Regarding the type of required consultancy services respondents strongly emphasize those in management, financing and participation in financing programs, fundraising, strategic management, legal services and access to markets. Consulting services in the areas of business planning, technology, marketing analysis and participatory leadership also get a good score (Table 6). Among the additions are highlighted the role of counselors in
Visitors kept asking for quality handicrafts. This let me to start think about how to open a crafts shop. Because most tourist come in from Douala [main international airport and transit] they buy from us even before starting their travelling to other parts of the country. . . . I use my business to help the poor. Right now I’m training three young girls [apprentices] how to weave these slip- pers. In future they can weave slippers and supply to the shop and earn money (FG3, P1). In the above case the defined community need is the quality of arts and craft as complementary to tourists’ needs, and the training she provides to the young girls. The entrepreneur satisfies the tourists’ desire to not only acquire something authentic and beautiful but something which is functional during their holidays ( Trinh et al., 2014 ). Although the woman discovered a market opportunity, financial and social support from her husband ( Desa et al., 2012 ) played a major role in her being able to pursue the opportunity, such as actively searching for job opportunities, providing start-up capital and exposure to networks for marketing and sales. In FG 1 and FG5, the men confirmed their role in supporting women, either as wives (where the initial aim is to supplement household income) or as family mem- bers (extended family obligations/commitment).
The second group of characteristics is concerned with social innovation practices, and four issues are emphasised. Firstly, the fact that novel solutions are proposed to satisfy the identified social needs. Although innovation is, generally, linked to the application of new ideas to devise better solutions to our needs, SI can, also, be achieved simply by the reapplication of old ideas in new ways (Andrew and Klein, 2010; Leadbeater, 2007). Secondly, SI is system-changing in nature. For example, Westley and Antadze (2010) stress that SI “will challenge the social system and social institutions that govern people’s conduct by affecting the fundamental distribution of power and resources, and may change the basic beliefs that define the system or the laws and routines which govern it” (Westley and Antadze, 2010: 3). Another way to look at SI is as being disruptive and catalytic (Christensen et al., 2006). In this regard, SI must cross multiple social boundaries to reach more people and different people, more organizations and different organizations, organizations nested across scales (from local to regional to national to global) and linked in social networks (Westley and Antadze, 2010). Thirdly, SI is context-dependent, since basic needs are, to a certain extent, context and community-bound and SI at the local level means innovation in relations between agents and organizations existing at various spatial scales (Moulaert and Nussbaumer, 2005). A similar argument is developed by Westley and Antadze (2010: 12): SI “do not necessarily generate the sorts of products or services that are always of interest to the market; they are born in a certain context, under certain circumstances, and in response to certain needs or problems. Whether or not the innovation has a broader social impact, however, is dependent on the interplay of political, social, economic, and cultural factors”. Finally, SI is characterized by being cross-sectoral, cross-disciplinary,
Corporate responsibility (CR) literature suggests that CR initiatives not only go beyond addressing the interests of immediate stakeholders of for profit enterprises, but also have the potential to enhance for profit enterprises’ performance. In response to recent cuts in public spending and growing disillusionment of for profit business models, increasing attention is being paid to socialentrepreneurship and social innovation as a means of easing social issues. However, understanding of socialentrepreneurship and social innovation is somewhat inconsistent and fragmented. This paper seeks to map and assess the relevant intellectual territory of social innovation and socialentrepreneurship by taking a systematic review of relevant research to provide collective insights into research linking social innovation with socialentrepreneurship. The purpose of a systematic review is to seek to identify key scientific contributions that have been made to the socialentrepreneurship and social innovation literature. The evidence-base employed by this review found that interest in this area of study has increased over the last decade, accelerating over the past five years, with much of the focus being on the role of the entrepreneur, networks, systems, institutions and the formation of cross-sectoral partnerships. Based on our findings we go onto suggest the use of the “systems of innovation” approach as an analytical framework for future studies of social innovation.