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Journal: International Journal of Advanced Research (Vol.8, No. 5)

Publication Date:

Authors : ; ;

Page : 852-857

Keywords : Social Entrepreneurship Economic Growth Sustainability Innovation Societal Challenges;

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Entrepreneurship has captured the attention of the world due to its significant impact on economic development and job creation. Today the world faces a lot of societal challenges in the economic, social, and environmental spheres that need to be overcome. Social entrepreneurship is fundamentally about finding novel solutions to complex social problems. Social entrepreneurs who recognize all the challenges as opportunities that can be exploited in both a profitable and sustainable manner. The purpose of this paper is to understand the role of social entrepreneurs in the economic growth of the Sultanate of Oman. The paper is built on the analysis and synthesis of scientific literature which enables us to describe the phenomenon of social entrepreneurship and its initiatives. The main variables based on the theoretical analysis were identified and discussed. Social entrepreneurship has huge potential in Oman, as the country is seeking to boost the role of the private sector in the economy. Social Entrepreneurs in Oman can add a new perspective and open new ways to face the challenges. There is a great scope for social enterprise to create value-added in Oman as entrepreneurs fill gaps and niches that benefits society. As Oman positions SME development part of its national agenda, it is paramount to equip the country with the know-how and tools of social entrepreneurship skills which pave way for sustainable development where both economic and social impact is generated for the country.

Last modified: 2020-07-11 14:56:10