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Answer:
1. The similarities between commercial and social entrepreneurship are:
a. Value Creation: Commercial and social entrepreneurship try to create value. While the commercial entrepreneur creates value for society by increasing economic returns, the social entrepreneur tries to reduce the needs of society by creating social returns.
b. Innovativeness: Both the commercial and social entrepreneurs are innovative, always coming with ideas to improve and meet societal needs for goods and services.
c. Resourcefulness: Both kinds of entrepreneurship deploy entrepreneurial resourcefulness to achieve efficiency and effectiveness in their activities.
d. Perseverance: Commercial and social entrepreneurs do not easily give up on their ideas. They endeavor to execute their visions and missions to the fullest, notwithstanding the accompanying risks.
2. Their similarities are mainly conceptual. Their differences lie in the goals they set out to achieve.
3. Yes. Social entrepreneurship is one of the subfields of entrepreneurship, depending on a variety of research traditions, perspectives, and methods.
Explanation:
Social entrepreneurship creates social value for the public good. Commercial entrepreneurship creates profitable operations (or economic value) for private gain. Generally, entrepreneurship is the process of creating value (social or economic) through the assumption of risks.
Both of them seem to have the capacity to see opportunities and have a substantial effect on society. Commercial entrepreneurs strive to satisfy people's wants, whereas social entrepreneurs strive to alleviate those needs.
Commercial and social entrepreneurship
Yes, entrepreneurship education should be regarded an entrepreneurship subfield.
Individuals, organizations, or businesses take this technique to create, fund, and discover approach to various, cultural, and environmental challenges.
Although the goal is different, the process is the same.
Find more information about 'Commercial and social entrepreneurship'.
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