Importance of Social Entrepreneurship in Oman towards the Sustainable Development

Abstract

Entrepreneurship is vital for growing economies in contemporary world. It has
captured the attention of the world due to its significant impact on economic
development and job creation. It demands entrepreneurs who can accelerate
financial growth through their new ideas and converting them into profitable
endeavors. Today the world faces a lot of societal challenges in the economic,
social and environmental spheres that needs to be overcome. The public debate
has been focused on finding solutions to them and one of these has been
addressed as social entrepreneurship. Social Entrepreneurship as an emerging
field has been receiving a lot of attention. Social entrepreneurship (SE) is
fundamentally about finding novel solutions to complex social problems. Social
entrepreneurs recognize these challenges as opportunities that can be exploited
in a both profitable and sustainable manner. Social Entrepreneurs in Oman can
add a new perspective and open new ways to face the challenges. social
entrepreneurship enjoys recognition at a global level, most of the targeted
problems emanate from developing economies, and thus, from within the local
settings of a social entrepreneur. There is a great scope for social enterprise to
create value added in Oman as entrepreneurs fill gaps and niches that benefits
society. It is paramount to equip the country with know-how of social
entrepreneurship skills which will pave way for sustainable development.
Key Words:
Social Entrepreneurship, Economic Development, Sustainability, Innovation,
Societal Challenges