Fostering Social Capital Practices in Social Entrepreneurship Framework through Social Enterprises

Abstract

The concept of social capital gained popularity some two decade ago. Social capital is a buzz word in the social science discipline. Contribution of sociologists, political scientists and economists invoked the concept of social capital. An array of questions envisaged when the idea is applied to social sciences. In recent years, researchers, policymakers and practitioners from different discipline rapidly accepted the model of Social capital. The World Bank’s “Let’s talk Social Capital” internet discussion during 1999, worth denoting. Social Capital from communitarian view had equated it with the local organisation such as clubs, associations or civic groups. The density or number of such associations in a given community holds that social capital is better and always have a positive effect on a community welfare (Woolcock, Narayan). Social capital offers the broader theoretical construct to social networks and community development. However, it is difficult to understand how the social capital actually works in practice. As a social phenomenon that exists between the individuals is also deeply contextualised in the study of entrepreneurship. Entrepreneurship as a profoundly social practice (Ansari, Munir and Gregg 2012). It is therefore, entrepreneurs are perceived as the building blocks of society, practices the pattern of community engagement. Social enterprises incorporate the social origin theory that states the scale and form of social economy in different localities influenced by local conditions and circumstances, establishes interrelationships between diverse local interests and classes. The emergence of social enterprises also connects to the development of community cooperatives. (Gordon 2002). Through this research work two areas would be examined predominantly a) how social capital works, b) how effectively it can be operated in social entrepreneurship process through social enterprises. Accordingly, an attempt will be made to draw an inference between the social capital and the social entrepreneurship process.