A Practical and Theoretical Approach to Social Venturing Entrepreneurship

Research in social venturing entrepreneurship promoted by Professor Gert Van Dijk is gaining ground. The concept of social venturing entrepreneurship is not new. It is rooted in entrepreneurship as described by classical authors like Von Mises, Kirzner, Schumpter Knight and social reformer like Raiffeisen. It is anchored in new institutional and behavioral economics and exit strategy theory. A social venturing entrepreneur is a creator of effective social change in the context of economic, social and political conditions. Social venturing entrepreneur masters the skills of networking and lobbying. A social venturing entrepreneur is recognized by the social venturing and co-operative entrepreneurship business model they employ to execute their teleology. Social venturing entrepreneurship has advantages above conventional entrepreneurship as it has reintroduced the concept as entrepreneurship as a calling. They aim to empower the stakeholders for whom they setup the social venture and exit when the stakeholders are able to self-manage the enterprise. This chapter explains the commonly used concepts, ontologies, the social venturing entrepreneur's social venturing and co-operative business model, the economic theories and conceptual framework and practical application from appreciative inquiry point of view.