Entrepreneurial solutions to social problems: philosophy versus management as a guiding paradigm for social enterprise success

Abstract

PurposeIn societies marked by inequality, organizations use management techniques and business strategies for sustainability, social impact and ethical activities, with stakeholders often promoting education to effectively address these challenges. This paper establishes an original relation between the development of social entrepreneurship and a deep philosophical comprehension of human existence. Going beyond conventional management theories, the authors demonstrate that specific existential ideas and other philosophical underpinnings provide powerful guiding principles, portraying entrepreneurship as a method to address the underlying social and environmental issues driving inequality.Design/methodology/approachThis study is based on an analysis of relevant articles and is supported by qualitative research on social entrepreneurship. The stories of social entrepreneurs represent good practice in applying the values and insights discussed in modern approaches.FindingsSocial entrepreneurs are relentlessly seeking innovative pathways to develop their enterprises. Their intrinsic drive for social entrepreneurship and their unwavering commitment to solidarity are undeniably more aligned with philosophical approaches to management than with the confines of traditional positivist foundations.Practical implicationsLeveraging philosophical approaches that intricately resonate with the ethical and value-driven compass of social entrepreneurs, as opposed to the constraints of conventional managerial methods, holds immense potential in shaping the training and skill development of these impactful visionaries.Originality/valueThe authors' study unveils fresh insights into how social entrepreneurs adeptly navigate interpersonal connections, handle uncertainties and address the paradoxical situations intrinsic to their entrepreneurial efforts to confront social issues.