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Because the world of social entrepreneurship is relatively new, existing now for over a few decades, there are challenges facing those who delve into the field. First, social entrepreneurs are trying to predict, address and creatively respond to future problems [ 34 ] and often face difficulties in identifying the right problems to solve. [ 35 ]
Entrepreneurship is also being developed as a way of developing skills such as risk-taking and problem solving that facilitate achievement of life goals and in education. [11] Whether startup entrepreneurs or growing business owners, the challenge is much bigger than what we normally assume.
Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization. Intrapreneurship is known as the practice of a corporate management style that integrates risk-taking and innovation approaches, as well as the reward and motivational techniques, that are more traditionally thought of as being the province of entrepreneurship.
A feminist entrepreneur is an individual who applies feminist values and approaches through entrepreneurship, with the goal of improving the quality of life and well-being of girls and women. [74] Many are doing so by creating "for women, by women" enterprises.
Youth empowerment examines six interdependent dimensions: psychological, community, organizational, economic, social and cultural. [1] [8] Psychological empowerment enhances individual's consciousness, belief in self-efficacy, awareness and knowledge of problems and solutions and of how individuals can address problems that harm their quality of life. [1]
Entrepreneurial leadership is (as per Roebuck's definition) "organizing a group of people to achieve a common goal using proactive entrepreneurial behavior by optimising risk, innovating to take advantage of opportunities, taking personal responsibility and managing change within a dynamic environment for the benefit of [an] organisation".
Work-life balance– The owner of a lifestyle business typically seeks to maintain a healthy work-life balance, and may prioritize flexibility and time off over rapid growth or expansion. Low overhead costs– Because lifestyle businesses are often small and owner-operated and may be run from home or a small office.
Entrepreneurial economics is the field of study that focuses on the study of entrepreneur and entrepreneurship within the economy. The accumulation of factors of production per se does not explain economic development. [1] They are necessary factors of production, but they are not sufficient for economic growth.