BUSINESS BEYOND PROFIT MOTIVATION Flashcards
business that trades for a social and/or environmental purpose. It will have a clear sense of its social mission.
Social Enterprise
are individuals with innovative solutions to society’s most pressing social problems.
Social Entrepreneur
Normally, the organizations that have sought to address social, cultural, and environmental challenges, have been non-profit organizations that have relied on charitable donations and government grants to fund their activities.
Financial freedom
Under traditional funding models through grants and donations, organizations have a hard time growing the size or scope of their services
Growth of scope and size of services to the community
Beyond providing entirely financial resources, the social enterprise also gives organizations opportunities to discover noble ways of achieving their mission
Business can contribute to the mission
Undertaking social enterprise may also impact how an organization is perceived.
Perceptions of the organization by staff and donors
Since a social problem is being tackled with a solution, it is easier to draw the attention of the people and media
Marketing and promotion for these organizations
Services in whichever section they may be offered are customized better to go with the needs of the individual or the problem
Services can be customized
The solutions offered by these organizations in either products or services are realistic compared to the same services provided by a profit-making organization.
Cost-effectiveness is another advantage of a social enterprise
Small social enterprises are often managed by people with a passion for their locality and the issues that surround it
Job creation
Not only can social enterprises offer more employment, they can act as campaigners and advocates for employing people from outside the usual suspects
Social enterprises have huge potential
There are potentially lots of opportunities in home care, green industries, and manufacturing.
Recycling is excellent for creating jobs
Progress can be made by combining the support and nurture of talent with encouraging public and private organizations to consider contracting locally.
Find a way to combine a grassroots approach with leveling the playing field
A major part of any local social enterprise strategy must be working with the local further education college.
Social enterprises must connect with further education
One group of customers pays for the service.
Cross-compensation