Author(s): Uma Srivastava, Saurabh Kumar Srivastava
This paper empirically analyzes Innovation and Sustainable Growth as components of Social entrepreneurial practices and their impact as social change in India. Social entrepreneurship is an emerging domain, academically for the Indian context and the other developing countries. This research is based on exploring two broad questions. First, what are those factors which lead to the framework of Social Entrepreneurial Practices, second, what are the Social change indicators as their social entrepreneurial outcome. These empirically analyzed components of Social Entrepreneurial practices identified as innovation and Sustainable Growth and its social value created as outcome and their impact in rural areas or marginalised sections of the society in India are done. SEM (Structural Equation Modelling) has been performed to test the research model of the study. It is concluded that Innovation and sustainable growth are two constructs of social entrepreneurial practices. Social entrepreneurial practices are taken as independent variable of the study. Variables along with their respective constructs have been explored and confirmed with EFA (Exploratory Factor Analysis) and CFA (Confirmatory Factor Analysis). Similarly, the five constructs of social entrepreneurial outcomes namely financial outcome, fulfilling societal needs, social and economic values, self efficacy, and generation of functional efficiency & skill incentives have been loaded on latent constructs social entrepreneurial outcomes. Analysis of SEM shows that model which has relationship with factors of Social entrepreneurial practices and social entrepreneurial outcome shows a good model fit without any mediator. Two hypotheses have been rejected, thus a positive and significant relationship have been established between Innovation and Sustainable Growth as social entrepreneurial practices and social entrepreneurial outcomes.