Innovation And Entrepreneurship Essay

1895 words - 8 pages

There are many social returns that can be gained from the Sougha program. Alleviation of unemployment, women empowerment and the all-important role of preserving indigenous Emirati heritage are just examples of the social impact of Sougha. The program is cognizant of the fact that a large population of Emiratis possesses enormous potential for entrepreneurship but is largely unable to achieve employment. Because of the Sougha program, such individuals are able to access assistance, both material and otherwise, which enables them to consequently enhance their entrepreneurial skills and in effect, seize market opportunities (, 2012). As a result, the social reflection of poverty impressed by unemployment is to a great extent moderated. The program is very clear that it not only supports craftsmen, but also craftswomen too. This is a clear message that as part of growing entrepreneurships, the Sougha program realizes the social responsibility it is charged with in realizing gender parity. As such, appreciating that women too have intrinsic talents that could be seen as potential entrepreneurships models goes a long way in effecting the need for reawakening the general social perspective with regard to the role of women. (2012), affords that the program seeks to preserve the indigenous Emirati heritage through fostering economic sustenance among craftsmen and women as well. The interrelationship between culture and economy presents a unique opportunity for remote artisans to effectively tell of the cultural progression of Emiratis and still make some money while at it. Through empowering the economic viability of art, many artisans previously from opportunity deprived regions have, as stated by (2012), moved from being socially isolated to enjoying financial inclusion. With regard to success, it should be measured primarily by the social impact the program has had on its participants. (2012) states that the program has managed to convert skilled Emiratis in Western Abu-Dhabi into entrepreneurs. Additionally, it has also realized self-employment opportunities for over 100 artisans.
There exist numerous differences between the type of social entrepreneurship exhibited by the Khalifa Fund programs, and the general idea of commercial, entrepreneurship. But perhaps the greatest similarity both types of entrepreneurships have is the pursuit of revenue. Both types of entrepreneurship recognize opportunities for business and this precisely when the need to innovate is invoked. However, for social entrepreneurs, the social missing of their innovation takes central part and influences greatly how they perceive business opportunities. In most cases, ethics, integrity and the demonstration of humanity creates a distinct contrast between social and commercial entrepreneurship. In essence, a majority of social entrepreneurs associate their business with communities that are relatively disadvantaged in terms of accessing...

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