Empowering The Underprivileged Community through Social Innovation and Entrepreneurship

Abstract

There is increasing awareness of being socially responsible and the need to address social problems involving various key stakeholders in the public and private sectors, the corporate world and businesses, as well as the community. With social issues experienced globally, such as introducing diversity in society and eradicating poverty, it is imperative to use social innovation to improve or replace the way things are currently done. The purpose of this paper is to analyse the impact of social innovation on entrepreneurship as a way of providing stable income to underprivileged and unemployed segments and youth. It discusses key elements that support the development of entrepreneurship to ensure sustainability and growth, to ensure the underprivileged segment and youth will continue to earn income, thus reducing reliance on welfare assistance support. The research was conducted based on interviews and observation methods. Two significant projects were investigated that employed the social innovation model, how they were applied, and the implications to the society that participated in these projects. These include the processes, the role of individuals and the collective action of key strategic stakeholders in managing and structuring the programmes. We conclude with the importance of entrepreneurship in driving economic growth and empowering the targeted segment, such as the underprivileged, through entrepreneurship to provide employment and sustainable income. Recommendations include: managing social issues, uncover the importance of social inclusivity, introducing social innovation to develop individuals and drive economic growth, involvement of all parties from the public and private sectors, as well as non-profit and non-government organisations to expand the initiatives to include those who are entitled to receive the support.<br>