RETHINKING OF ENTREPRENEURSHIP: TOWARDS SOCIAL RESPONSIBILITY

Social entrepreneurship is highlighted as a result of general entrepreneurship development because the traditional entrepreneurial factors are accomplished with the social aspects of common good. Entrepreneur's responsibility in choosing the main business activity within an industry increases if the way he conducts his activities is considered. Institutional support for social entrepreneurship is achieved by generating many business activities in order to fulfil different kinds of social needs. Social entrepreneurship is possible if both entrepreneur’s initiative and institutional support for small and medium sized enterprises (SME) are included in performing for traditionally non-profit activities. Allowing private initiative to fulfil the real needs of different users in social, educational, cultural and other non-profit fields is a good way to support SMEs. However, the institutional control should still remain in place in order to protect the minimum performing standards.The development of social entrepreneurship in transition countries is important for general economic development, but also for the supporting values of ethics in business activities.