A Social Enterprise Business Idea

In spite of all advantages mention earlier about ethically and socially responsible business practice, it also has disadvantages, limitation and challenges. The most common and obvious limitation would be the cost that comes together with every investment a business does in order to meet all publicity’s requirements, for instance setting up Ronald McDonald House Charities. Every business has a goal which is at the top of their goal list and it is to be profitable. What is more, it is challenging to maintain the publicity’s and stakeholders’ satisfaction when investing into the society, employees and the environment.

John Mackey, founder of Whole Foods once said "Business social responsibility should not be coerced; it is a voluntary decision that the entrepreneurial leadership of every company must make on its own." (Mackey, 2005) In today’s society it is increasingly common for businesses to actively identify and become directly involved in the country and the global social issues and needs. It is now common

When an organization partakes in “proactive behavior…for the benefit of society,” it is deemed as socially responsible (P. 155). However, prior to labeling a organization as socially responsible, it is important that we first identify what specific elements of proactive behavior constitute a socially responsible business. To begin, for an organization to be considered socially responsible on the highest level, it must take a proactive approach to doing business. This is defined as “[taking a] approach to social responsibility in which an organization goes beyond industry norms to solve and prevent problems” (P.155). In addition, it is standard for a socially responsible organization to incorporate a larger scope of stakeholders, to include external stakeholders, in their business decisions to create positive externalities, and mitigate negative ones, to benefit society as a whole.

It allows for social change advocacy without the potential external consequences of "conventional activism." But increasingly, we are led to believe that ‘entrepreneurs’ and ‘social enterprises’ are the avant garde of ‘change making’. Like every concept has both pros and cons, similarly even social entrepreneurship has its own demerits. On one hand it is one major factor in bringing change while on the other end it is being overused by companies who start off with the motive of being socially responsible and use this for the advantage in future ,by diverting their focus on profits. The point is, all of a sudden, social entrepreneurship was everywhere and everyone wanted to be one. The key to sustainable capitalism is reasonable profits as opposed to maximizing profits. In the current system, a segment of society is trying to maximize profits without concern for the impact on the well being of the society as a whole, while another segment of social organizations have to deal with the fall out. The system is not working. If it does good in some areas it also does bad in others. The example of Toms one for one shoe program though does charity and is a social enterprise but at its worst, it promotes a view of the world's poor as helpless, ineffective people passively waiting for trinkets from shoe-buying Americans. While the shoes themselves probably won't lead to any kind of disaster, that worldview can lead to bad policies and real, serious harm also has a small negative impact on local markets. And so I have come to feel increasingly uncomfortable with the term “social entrepreneurship” and its main actor, the “social entrepreneur”. It creates a false separation between “this is where we make money, and this is where we do good”. And that is exactly what is wrong with capitalism today. Myths of social entrepreneurship are different from what and how it really works in the

With the rapid development of social economy, the public tends to focus on the social responsibility of the company, as well as feedback to the society, rather than pay close attention to how to create interest in the company. Especially, environmental protection and human rights has became the most pressing social phenomenon. Under this

By engaging with social causes in a variety of ways, a corporation can learn about new territories, product applications, cultures, and markets. Many companies seek to empower the poorest sector of the population, both at home and

To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society. Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate” (Straub,

I think Social responsibility has a key role in establishing a company’s business model. When operating a business, a company must contemplate the social responsibility behind their business when making their business model. Where do their responsibilities lie, what fits with their business plan, and how much investment can they really declare to their shareholders, that

Social economy organizations are set to meet social objectives that are drafted into organizations ' charters. These objectives surpass conventional decisions to adopt corporate

The social venture to be created aims to help reduce recidivism rates within the Department of Juvenile Justice (DJJ) through the implementation of sports along with education and job readiness programs. The venture is based on the idea that if institutionalized juvenile delinquents were challenged and supported to enhance athletic abilities while developing job readiness skills and increasing educational attainment, more opportunities for success would be created for the young delinquents after incarceration and recidivism rates would decrease. This is that the social venture is unique by providing these individuals a backup plan if athletic careers do not surpass high school. It will help connect the juveniles with athletic programs and workplaces willing to accept their criminal

The definition of corporate social responsibility is when a business takes responsibility for the impact it leaves whether it be bad for the environment, customers or anything involving society. Social responsibility is the concept of businesses not just focusing on maximizing profit but also trying to maintaining a positive image for the business. A main concept for social responsibility is “do unto others as you would have them do unto you”. Not a hard concept to grasp. You basically need to act how your parents taught you to as kids, treat people how you want to be treated. Just add having good business sense and you have a potentially promising future in the corporate world. The company could be doing this

Social enterprises can take the ideal of social responsibility intertwining with revenue too far. Businesses that supposedly show profit by hiring the disadvantaged can be based on an unsupportable claim that social enterprises help government (Jones & Donmoyer, 2015). For instance, the founder of Grameen Bank, Muhammad Yunus, claimed that his business is new type of business that focuses on serving impoverished individuals and sustaining itself through earned revenue (Jones & Donmoyer, 2015). He failed to mention or acknowledge the importance of how Grameen Bank was initially capitalized with the support of philanthropy (Jones & Donmoyer, 2015). This sends the wrong message to donors that investing in a for-profit organization is just as good or even better than

Economy: boost the social enterprise industry by being a role model business that successfully generates profits and at the same time tackles a social

There has been an astronomical rise in the cross-sector partnerships between corporate and non-corporate entities for achieving profit and non-profit objectives in UK alone in the past decade alone. These corporate entities are showing more interest in collaborations with social enterprises for working towards initiating a transformative change for a more equitable society whilst at the same time meeting financial objectives. These established corporate bodies help the social enterprises to broaden their reach, deepen their impact and extend their growth. To sustain the big businesses playing an important a role in improving society,

Through this book, Yunus shows how social business is applied in the current business setting. Yunus also explains how the social business model could redeem the failed promise of the free enterprise model.