A Realistic Theory of Social Entrepreneurship: A Life Cycle Analysis of Microfinance (PDF) is an attempt to push the boundaries of research in this field by using evidence from the microfinance industry, which is known as a leading sector of social entrepreneurship. The most recent studies acknowledge that commercial businesses, not-for-profit organizations, and social enterprises are all started by entrepreneurs who have distinct personal identities. However, these studies do not explain the reasons why these entrepreneurs’ personalities may change before they transform their social enterprises, and why these personalities may change even more as they progress into commercial businesses. This ebook presents a theory of development and evolution for social enterprises and examines how that theory influences the social mission and enterprise structure in the wake of hybrid and for-profit models and corporate philanthropy. The theory investigates the dynamics associated with change, impact, and growth and provides an in-depth critical view of funding, motivation, and profit. The author draws attention to the “fractures” in the practice of social entrepreneurship and questions how these cracks are being institutionally plugged in.
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