It is well known that has long been promoting economic growth and developments. Recently, social entrepreneurship has become an area that has gained the attention of both the business and the business community. Social entrepreneurship is defined as entrepreneur or business activity that with the organized social agenda and it has become an integral economic phenomenon at an international scale. Some of the most trending social entrepreneurship creativity and innovations started from the developing nations and entails introducing latest business models that provide solutions for basic human needs. Some of those need include the supply of the sanitation system in remote villages. Although social entrepreneurs often began with minimal, local supports, they usually focus on challenges that have a local crisis but worldwide relevance.   Such problems include waste management, access to clean water and enhancing small-business creation. The purpose of this paper is to elaborate how social entrepreneurship is the pursuit of effective solutions to challenges of forgotten positive externalities.

There is no denial that the innovative ideas that social entrepreneurs design in the remote contest often get appreciated in other geographies and result to the growth of the latest global organization (Zahra et al., 2008). Social entrepreneurship is thus developing microfinance industries such as establishing modern companies, designing new business models, and providing raw materials to resolve societal difficulties. Social entrepreneurship is important in several options because it offer a fundamental distinction from other kinds of economic industries. This kind of entrepreneurship is considered over the other because it exhibits economic traits that appear in consisted with this motivation and also it does not contain competitive behavior. In other worlds, social entrepreneurship normally entails mechanism of cooperation that modifies formal organizations. This is the main reason why social entrepreneurship is classified as hybrid since it collects elements of business entrepreneurship and social sector industries.

It is evident that the current economies involve different options of business companies with different models of governance. For instance, the style of governance used in cooperatives, publicly-owned corporations, partnership and family-owned businesses cannot be the same. Despite their differences of profit vices non-profit and ownership structures, all these companies make share a commonality. They are managed to cater for the interest of the unidentified organizational coalitions like a partner or members, shareholders, and owner-managers. Social entrepreneurship interestingly is not the manager for the self-interest of its dominant partnership but run they are operated for the benefit of the intended users, communities or the whole society. Modern economies also involve various kinds of social sector companies like philanthropic organizations, charities, and social activities. These organizations functions in the technique of certain societal beliefs such as environmental protection, human rights, consumer rights, economic fairness, freedom of expression and equal opportunity. It is, therefore, realistic that social evidence that social entrepreneurship plays societal and economic that are different from other kinds of social sector organization.

Even though, business entrepreneurship is widely practiced by the majority of entrepreneurs, the practice is drastically shifting to the side of social entrepreneurship (Certo and Miller 2008). The reason for venturing into social entrepreneurship slightly outweigh those for venturing into business entrepreneurship because just like the other businesses social entrepreneurs also identifies opportunities and craft a technique to cater for the unserved market. In most cases, business entrepreneurs plan and establish businesses with the mentality of building a successful business and earning huge profits. Social entrepreneurs on the other hand target to create practical social change for the benefit of majority gain. In contrary, business entrepreneurship can as well result to development in the society however, that is not the sole idea of launching the project. Similarly, to social business, they too may generate huge profits at different stages but that is also is not the main intention of establishing the business. Finally, when it comes to the wealth creation, a lot of social entrepreneurship has indicated positive resulting thus attracting many investors to invest in this field.

In conclusion, the primary objective of this essay is to gauge the current state of the trending social entrepreneurship and to highlight potential opportunities for future launching of social industries. Social entrepreneurship is a growing economic area that is focused on value creation and innovation and functions depending on its own rules, logics and regulations. Basically, the intention of this essay is to categorize social entrepreneurship in the situation of argument concertinaing economic industries and the operation of current economies. Additionally, there is a large opportunity for the government and non-governmental organizations to foresee and help the expansion of social entrepreneurship. These supports can be extended to all its structural forms as a technique to convey social and economic benefits. The two best mechanisms to support the company are by working positively with the sector to create an environment that embraces the entrepreneurial culture and offers availability to financial and human resources.