The Role of Social Entrepreneurship in Addressing Global Social Challenges

Abstract

Objective: Social entrepreneurship has emerged as a powerful driver for positive change in an era characterised by tremendous global challenges. The research highlights the need of social entrepreneurship in creating novel solutions that balance market efficiency and social impact, highlighting the limitations of established approaches. The complexity of problems like poverty, healthcare inequities, and environmental degradation calls for fresh viewpoints and approaches. However, obstacles such as limited resources, worries about scalability, and striking a balance between financial viability and social impact can make social entrepreneurship a difficult terrain to navigate. Method: A new method called Driven Collaboration Networks with Impact Assessment Metrics (DCN-IAM) is proposed. This method provides a structured although adaptable structure for coming up with and trying out novel solutions. The DCN-IAM method assures that offered solutions are additionally new yet practical and effective by fusing creative problem-solving with rigorous impact evaluation. The following instances show how social entrepreneurs might use DCN-IAM to develop effective, scalable solutions to pressing global problems. Result: In addition, the technique's viability is confirmed by a simulation analysis by comparing its results to those of well-established social entrepreneurship models (SEM). The research project provides social entrepreneurs, policymakers, and stakeholders with the ability to drive revolutionary change by introducing the novel DCN-IAM technique and exhibiting its applicability through instances of success. Conclusion: The simulation research demonstrates that the method can be more effective than conventional methods, arguing for the continuous combination of innovation and impact assessment in solving global problems.

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