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Rajnish SharmaTop Contributor
Content Creator || Android App Developer
Asked a question 3 years ago

What's the difference between social entrepreneurship and cultural entrepreneurship?

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Rajnish SharmaTop Contributor
Content Creator || Android App Developer

One must understand entrepreneurship before focusing on any adjective appended to it:

  • Entrepreneurship is creating a rapidly appreciating asset (i.e. new venture) for the purpose of rewarding the owners of the asset.

When we speak of social entrepreneurship, we intend to convey a verifiable expansion of rewards from the asset being created by the entrepreneur and owners:

  • Social entrepreneurship not only intends to reward the owners of the asset, but also others (e.g. employees, customers, partners, targeted populations, society as a whole, etc.) who don’t own the asset, i.e. social impact.

In this sense, cultural entrepreneurship could be considered as a derivative set of social impacts intended for the benefit of the arts and culture segments of society by social entrepreneurs.

Cultural entrepreneurship is most likely not its own thing separate from real world entrepreneurship – in other words, one will have to make a buck at whatever they’re doing regardless if they’re serving up culture or not.

Cultural entrepreneurship actually sounds like a rhetorical conceit at a liberal arts college from a made up elective posing as a theory.