By C. F. Manski
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Building on the established entrepreneurship literature, a number of distinguishing process features of social entrepreneurship have already been identified. These can be summarized in two dimensions: innovation and market orientation (see further Chapter 5). However, both elements are operationalized with features distinct to a social context. First, several authors have highlighted a distinctive approach towards innovation, opportunity creation, and recognition in social entrepreneurship (Dees and Battle Anderson 2002; Thompson 2002; Austin, Stevenson, and Wei-Skillern 2003; Sullivan Mort, Weerawardena, and Carnegie 2003; Dees, Battle Anderson, and Wei-Skillern 2004).
Similarly, the Tateni (a Nguni term of affection) project started by Veronica Khosa in South Africa (Bornstein 2004: 183–99) provides a further good example. In this case, the social entrepreneur reacted to the inadequacy of institutional support for victims of the catastrophe of AIDS/HIV by creating a home-care service that would both complement the existing welfare system and offer a new model of community-based training and action in health care. Between 1995 and 1999, the project’s staff made over 200,000 home visits and trained over 1,000 new home carers.
Such an approach would be commercially unviable for most non-social ventures. The significance of mission driven ‘values’ within the value creation process is crucial here. In many ways ethos matters as much as strategy. Finally, measuring social impact and social value creation demands different metrics from conventional business. A number of qualitative performance measures have been developed for social ventures over the last ten years including: Triple Bottom Line accounting (Elkington 2001), the Balanced Scorecard for not-for-profits (Kaplan 2002), the Family of Measures (Sawhill and Williamson 2001), and social reporting (Zadek 1998).
Analog Estimation Methods in Econometrics by C. F. Manski