. The mission of the entrepreneur has been to create wealth and business growth. Accomplishments of these missions result in additional benefits to members of society, whether intended by the entrepreneur or not. For instance, customers benefit because they are able to fill a need through the purchase of a product or service. Second, venture capitalists, lenders, and shareholders benefit by attaining returns on investments or interest through the entrepreneur’s business. Third, employees benefit by earning income through the business’s growth and prosperity. As a result, employees then become customers that have purchasing power to buy goods and services that entrepreneurs produce. Over time, many entrepreneurs began to focus on a new, specific mission towards improving society. This new mission helped to develop and define social entrepreneurship. Although social entrepreneurship is virtually a new concept with no clear and concise definition, Johanna Mair and Ignasi Marti (2006) propose a broad, working definition: Social entrepreneurship is a “process involving the innovative use and combination of resources to pursue opportunities to catalyze social change and/or address social needs” (p.37). In today’s society, the role of social entrepreneurship is vastly increasing through both, nonprofit and for-profit businesses. Society’s desire for philanthropy has created many new opportunities for entrepreneurs. Ethics and a focus toward the common good are key concepts that are vital in today’s business world.
Success of entrepreneurs such as Andrew Carnegie, Henry Ford, and Bill Gates created both personal wealth and public wealth. Although these were not social entrepreneurs their innovations greatly enhanced society. Their products aided in the progress and advancement of an improved society. Entrepreneurship enables one to become both wealthy while improving society at the same time. Therefore, what motivates one to become a social entrepreneur instead of an entrepreneur for a profit seeking venture? Can social entrepreneurship invigorate society in ways that conventional entrepreneurship cannot?