Relationship between entrepreneurships with a social focus and the improvement of quality of life

Abstract

The objective of this research is to analyze the relationship between entrepreneurship with a social focus and the improvement of quality of life. For this, non-profit, for-profit and hybrid organizations are studied as inclusive business models, to understand their contribution to social well-being; the role that hybrid models play and their relationship with social progress; and the challenges and opportunities of hybrid models in social innovation. A qualitative, descriptive methodology was used, based on documentary review, and three (03) ventures with a social focus were analyzed as case studies. The hybrid model is presented as the most suitable option for enterprises with a social focus, due to its flexible and adaptable framework that allows for achieving both social and economic objectives. Although Venezuela has an IPS of 57,23 points (ranked 117), opportunities can be created for the population through hybrid initiatives together with the application of a system of management indicators to measure their social progress. Entrepreneurs with a social focus must address challenges such as management, leadership, financing, impact, objectives and legality; and possibilities such as knowledge, innovation, sustainability, social impact, legitimacy, adaptation and resources, to take advantage of the social innovation of hybrid models. To close, entrepreneurship with a social focus act as an engine of positive change in society, promoting the improvement of people's quality of life.