Question

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Describe the difference between a serial entrepreneur and the social entrepreneur.

Answer 1

Entrepreneur is defined as a person who takes necessary risks in setting up of a business against consideration of a profitable opportunity.

Both Serial entrepreneur and Social entrepreneur fulfill the market need targeting a sustainable profit in return.

The difference between a Social entrepreneur and a Serial enterprenuer is that the Social enterprenuer not only aims to earn profit but focuses beyond it to find out the positive impact of it's operational performance on the society.A Social enterprenuer aims to solve targeted Social problems through innovation that benefits humanity.So when a Social enterprise profits Society profits as by reinvesting majority of their profits the Social enterprenuer will have more scope for the development of the standard of the society.

On the other hand,a Serial enterprenuer generates new business ideas continuously and start the new business aiming at the profit only.Serial enterprenuer always hunts for situations where there is opportunity and consumer demand to make profit.

Further a Serial enterprenuer has the potentiality of creating entirely new industries on the other hand a Social enterprenuer might come out with new solutions to targeted Social problems and then implement them on large scale.