The role of social entrepreneurship in reducing poverty: A case study of Anchor of Hope
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Date
2022
Authors
Matebese, Noluvuyo
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Free State
Abstract
Social entrepreneurship has, over the years, come to be known as an important element
in the development of society at large (Ferri, 2014:12). Governments and researchers such
as Ferri (2014) have displayed interest in understanding this phenomenon. The role of
social entrepreneurship in reducing poverty is what the researcher is trying to uncover in
this study. Social entrepreneurship is defined as an action that is innovative in using
resources to pursue a need in an ever-changing world to address social needs (Mair &
Marti, 2006). Furthermore, social entrepreneurship is said to be associated with using
enterprise methods to satisfy social reasons (Dey & Teasdale, 2013). Drawing knowledge
from the definition, it appears that social entrepreneurship involves financial gain or profit
and giving social value. The social value in this study links to poverty reduction. Social enterprises are therefore
seen as a critical factor in development and poverty alleviation (Mair & Marti, 2006).
Poverty has different definitions, and it is looked at from different perspectives. Often, there
is a claim that poverty must be based on logical argument and science, but there is no
correct, scientifically agreed definition because it is inevitably a political concept and, thus,
an inherently contested one (Ludi, 2007). One definition is that poverty is a state whereby
a person is poor because his or her income level falls below the minimum level necessary
to meet basic needs (World Bank, 2019). Millions of people around the world live in
extreme poverty and hunger, and many people in extreme poverty are found in Africa. This
will be looked at in length in the literature review section. South Africa has also proven to
have high levels of inequality, poverty, and unemployment. The South African government
has, therefore, called upon businesses to play a role in transforming and developing better
conditions for all to live in. Business on its own is broad, and it calls on all sectors within it
to play a part. One of them being social entrepreneurship. It can be used as an innovative
way of fighting poverty and other social and economic ills that hinder the development of
this nation (Mohammed & Ndulue, 2017). Non-profit organisations (NPOs) are also
encouraged to take a more entrepreneurial and business-oriented approach in order to
generate revenue and be self-sustaining while providing social value services (Mohammed
& Ndulue, 2017).
Description
Dissertation (MDS (Development Studies))--University of the Free State, 2022