International Journal of Scientific and Research Publications, Volume 6, Issue 9, September 2016 787 ISSN 2250-3153 www.ijsrp.org Visionary Social Entrepreneurs Bring increasing profits to Organizations R.K.N.D.Darshani Department of Human Resources Management, Faculty of Commerce & Management Studies, University of Kelaniya Abstract- The concept of social entrepreneurship has been differently identified by diverse researchers leading to contradicting definitions. Therefore, whether visionary social entrepreneurship results in increasing profits is a questionable in the research world. As an answer to these contradicting findings and ideas of social entrepreneurship in literature, the current study focused in explaining the characteristics and the behavior of social entrepreneurial ventures in Sri Lanka. Therefore, the focus of the study is to explain how visionary social entrepreneurship leads to create profits and to gain increasing profits in a sustainable way. Index Terms- Profits, Social entrepreneurship,Vision I. INTRODUCTION he contribution which social entrepreneurs make to a nation’s social, economic, cultural and environmental wealth is being increasingly recognized. Hence, social entrepreneurship has been identified as an innovative way of tackling unmet socio- economic needs (Mulgan& Landry, 1995; Leadbeater, 1997, as cited in Shaw, 2007). The term “social entrepreneurship” has emerged as a new label for describing the work of community, voluntary and public organizations, as well as private firms working for social rather than for-profit objectives. Delineating, social entrepreneurship has evolved into the mainstream after years of marginalization on the edges of the non-profit sector. After all, Social entrepreneurs recognized as the entrepreneurs who are able to serve a triple bottom line achieving profitability, societal impact and environmental sustainability, simultaneously (Harding, 2006). As Brinckerhoff described (Brinckerhoff, 2001) social entrepreneurship readiness checklist incorporating the areas of mission, risk, systems, skills, space, and finance. And predominantly, these skills leads to the ability to develop a network of relationships is a hallmark of visionary social entrepreneurs, as the ability to communicate an inspiring vision for motivating staff, partners, and volunteers. There is a considerable interest on social entrepreneurship and the need of social entrepreneurs who serve and fulfill the needed around the globe (Chell, 2007; Desa&Kotha, 2005; Perrini, 2006, as cited in Zahra et al., 2008). Still, despite the growing international nature of many social entrepreneurial activities, researchers have not devoted sufficient attention to understanding how entrepreneurs select particular global social causes or create their ventures around these international opportunities. Researchers have also failed to articulate the rationale for the emergence of new international social ventures or the timing and scope of their international operations (Zahra et al., 2008). Economic reality of the companies and economic welfare of human society are the two sides of a coin and proper balance of the two is important (Sun et al., 2001) and on establishing a link between business and social responsibility (Porter and Kramer, 2006, as cited in Kryger et al., 2011) corporates focus on the integration with their corporate brands. Currently, nonprofit oriented public sector organizations are focusing on social entrepreneurship for providing social benefits. Yet, profit oriented private corporates hesitate to engage with social entrepreneurship since it undergoes with a social capital and cost. According to Rossouw& Van Vuuren (2004) corporate social responsibility has gained unprecedented prominence in the modern corporation which brings indirect financial benefits to the organizations. According to Frank Knight's Risk Bearing Theory, the entrepreneur earns profit as a reward for taking risks. Dees (2001) argues that social entrepreneurs are no into wealth creation. And Mair& Marti (2006) raise the argument of all social entrepreneurs are not into a social business by elaborating that the multinational companies seeks financial profits in every activity they do. Therefore, the research study delineates the importance of visionary social entrepreneurship as social responsibilities for the profit oriented organizations are rising and correspondently social entrepreneurial ventures up whelm the financial benefits. II. LITERATURE REVIEW Social entrepreneurship According to Austin, Stevenson, & Wei-Skillern (2006) definitions of social entrepreneurship range from broad to narrow. Former studies refers social entrepreneurship as into innovative activity with a social objective in either the for-profit sector, such as in social-purpose commercial ventures (Dees & Anderson, 2003; Emerson &Twersky, 1996, as cited in Austin et al, 2006) or in corporate social entrepreneurship ( Austin, Leonard, Reficco, & Wei-Skillern, 2004, as cited in Austin et al, 2006). Dees (1998) has delineated that the social entrepreneurship lies in the nonprofit sector, or across sectors, such as hybrid structural forms which mix for-profit and nonprofit approaches. As per in the narrow definition, social entrepreneurship typically refers to the phenomenon of applying business expertise and market-based skills when nonprofit organizations develop innovative approaches to earn income in the nonprofit sector (Reis, 1999; Thompson, 2002, as cited in Austin et al, 2006). T