Abstract
Entrepreneurship involves the identification, evaluation, and exploitation of opportunities (Shane & Venkataraman, 2000). In this sense, opportunities represent occasions to bring new products or services into existence such that individuals or organizations are able to sell new outputs at prices higher than their cost of production. (For an excellent review of opportunities and entrepreneurship, see Eckhardt & Shane, 2003.) The implication, of course, in this definition is that the fundamental mission of entrepreneurial activities involves profit generation, and these profits help entrepreneurs to build personal wealth. In recent years social entrepreneurship, a subdiscipline within the field of entrepreneurship, has gained increasing attention from entrepreneurship scholars. Social entrepreneurship involves the recognition, evaluation, and exploitation of opportunities that result in social value — the basic and long-standing needs of society — as opposed to personal or shareholder wealth (Austin, Stevenson, & Wei-Skillern, 2006). Social value has little to do with profits but instead involves the fulfillment of basic and long-standing needs such as providing food, water, shelter, education, and medical services to those members of society who are in need.
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