ABSTRACT
This chapter examines the role of transformational entrepreneurship in society by introducing the concept and current approaches. It explains the role of transformational entrepreneurship in the global economy so as to make recommendations on how the former can help improve the state of the later. Entrepreneurship provides a way to alleviate social problems and connect business to pressing issues. Cultural capital is needed for transformational entrepreneurship due to the need to access societal expectations about appropriate behaviour. Entrepreneurial ecosystems provide the human, financial, professional and social resources needed when facilitating change. To facilitate the exchanging of knowledge, ecosystems are needed. Communities develop a special form of entrepreneurship due to their population, markets and locations (Lumpkin et al., 2018). This facilitates community-based entrepreneurship that leads to transformations in society. Lumpkin et al. (2018) suggests that there are four main types of community: geographical, identity, interest and intentional. The chapter also provides an outline of this book.
