The Shift to “Social”: Social and Commercial Entrepreneurship Must Meld to Meet Changing Consumer Preferences

Abstract

Social entrepreneurship has been defined in contrast to commercial entrepreneurship. This suggests that
the expectations placed on a social entrepreneur are outside of the usual set of requirements for an entrepreneur. However, changes in consumer preferences suggest that this is not the case. A growing segment of consumers want to make purchases from companies that uphold values that are consistent with their own (Gerzema & D’Antonio, 2011; Ki & Kim, 2016; Noble, Haytko, & Phillips, 2009). Thus, it is important for entrepreneurs to move in the direction of “social” entrepreneurs.