(a) What is entrepreneurial grid? How can you apply entrepreneurial grid to different companies? Explain graphically with your own examples

        The entrepreneurial grid is one of the most useful tools for managers who tries to determine the entrepreneurship role within their organization. The organization’s entrepreneurship strategy is definable by plotting organizations on a grid. Where an organization falls on an entrepreneurial grid, the manager becomes able to determine internal as well as external factors of the organization.

         Entrepreneurship grid can be applied to different companies by determining the individual managers’ entrepreneurial intensity. An individual’s entrepreneurial intensity is determined by the degree and frequency of entrepreneurship as well as response of the individual to personality traits of the individuals and environmental circumstances. Following figure shows that how entrepreneurial grid can be applied at the level of organization’s individual manager:

          In the above graph, the horizontal graph represents degree of entrepreneurship and vertical part represents the frequency of entrepreneurship. It can be seen that Richard Branson has highest frequency of entrepreneurship, however degree of entrepreneurship is not highest. On the other hand, Bill Gates of Microsoft company has highest degree of entrepreneurship, however, his frequency of entrepreneurship is not highest.

(b) What is social entrepreneurship? Write some challenges of it.

Answer)

           A social entrepreneur is a person that deals with novel application related to following and solving the community-based problems. In this process, the individuals are willing to take the risk and they insert complete effort to get positive changes in the society through their personal initiative.  Social entrepreneurship is an important Framework in business that helps others for their success. The aim of the business in this process is to generate profits and to help society.  The purpose of Social entrepreneurship is to initiate the business under fundamental conditions of development, environmental issues, cultural diversification, implementation of pollution and fund for the social problems, and implementation of different concepts that can be changed with the variety of organizations believes, aims, and size of the organization (Anton Florijan Barišić & Vujnović, 2018). There are multiple advantages of Social entrepreneurship as it creates a variety of business with having a positive impact on society, health awareness, alternative energy usage, and education. The characteristics of a successful social entrepreneur are passion, reservation, and patience. The successful entrepreneurs take reckless Risk and they have deep Belief in humans. The social entrepreneur faces a lot of challenges that are often dependent upon the funding from fee, donation, endowment, and grants.  Some of the other challenges faced by Social entrepreneurship includes volunteer to Staff operation process, the increase in complex demands from the stakeholders, the drawing image of regulatory and their constraint, the tough competition related to high-quality employees. The concept of Social entrepreneurship is to become as a self-sustaining business person, while generating resources for NPOS, and to produce valuable outputs that are sustainable, activate additional flow, and to find solutions of the problems faced by the business person (Carter, Noke, & O’Neil, 2018).   The behavior of a social entrepreneur in a nonprofit organization is different from others and it depends upon the implementation of service fees.  The new revenue-generating programs can be developed and launched by Enterprises.  The diversification in the funding sources in any business can depend upon the rental asset, advertising revenues, and sponsorship for blended funding Streams. The business development depends upon the incorporation of state-of-art technologies in the operation. Therefore, it is important to develop new matrices to capture the social return over investment in a business. Most often it is observed that social entrepreneur use millennial approach is used by entrepreneurs and have a significant impact on the society to make the money. Before having an investment, it is important to realize the unique challenges faced by the social entrepreneur (Elitedaily. com, 2013). These unique challenges are listed below,

1.    Raise in the investment capital is highly challenging and induces potential impact on the investor. Therefore, it is important to use personal assets after having a complete agreement.

2.     Identification of the right manufacturer is important to have bargaining related to Physical products and to required cash considerations. For the entrepreneurs using manufacturing plants at overseas the best option to present challenges is to work under the conditions even if it is not compatible with the values of a social entrepreneur.

3.    The low-profit margins of social entrepreneurs are highly competitive therefore the only solution is to maintain the social mission and you realize the larger profits in the business. Mission drift is another challenge faced by social entrepreneurs in which it is difficult to satisfy the investors for a compatible business.

4.    it is obvious that is a social entrepreneur and face a lot of challenges for the traditional profit and loss conditions at the same time. besides that, the social mission is to contribute to the successful business with recognizing the missions and challenges faced by the company.

References of Corporate Entrepreneurship 

Anton Florijan Barišić, & Vujnović, K. (2018). ATTITUDES OF ENTREPRENEURS TOWARDS SOCIAL MEDIA AS A MARKETING TOOL.

EDUCATION FOR ENTREPRENEURSHIP, 08(01), 139-145.

Carter, C. J., Noke, H., & O’Neil, I. (2018). SOCIAL MEDIA AND ENTREPRENEURSHIP: EXPLORING THE IMPLICATIONS FOR

ENTREPRENEURIAL PROCESSES AND OUTCOMES. Retrieved from journals.sagepub.com: https://journals.sagepub.com/pb-

assets/cmscontent/ISB/Call%20for%20papers%20Social%20Media%20and%20Entrepreneurship-1543848115453.pdf

Elitedaily. com. (2013, 03 25). 13 Best Principles For Success You Need To Have In Your Life. Retrieved from www.elitedaily.com:

https://www.elitedaily.com/money/entrepreneurship/13-success-principles-life