Social entrepreneurship: an exploration of formal and informal institution factors in pakistan

"Rethinking business" and "social business" are both ways of looking at the world's big-picture trends, and there seems to be a noticeable shift toward rethinking business and rethinking social business (Baker, 2011). Progressively, studies have been directed at businesses as having more than just an economic or Schumpeterian purpose, where entrepreneurs encourage growth and structural changes in a financial system. They also look at businesses as having a social component (Drayton, 2012). Many scholars and researchers believe that social entrepreneurs have the potential to lead the way for a more sustainable and equitable society, one that is founded on the foundation of meeting local needs and developing new market-oriented solutions (Nicholls, 2011; Urban, 2015; Weerawardena & Mort, 2006).