The Theory Of Social Enterprise

Social entrepreneurship which has been applied in so many different ways by so many different analysts that it’s depth of vast complexity is still being unraveled and it seems it is still in infancy. It is a multi-interpretable concept and although the use of the term is widespread its use is either overrated or misused. Hence, it is important to firstly understand what social entrepreneurship really is.

Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal

Ed Freeman had strong beliefs that many companies have been following and strongly implementing social responsible in their workforce. In addition, Ed Freeman synopsis is very agreeable because social responsibility is being implanted in many companies. Furthermore, Ed Freeman disclosure is very compiling because in his disclosure he offers alternative ways for other firms to implement strong ethical policies and purpose. Due to the fact that Ed Freeman strongly believed that the primary purpose of all business is to have a purpose in improving their local or unknown neighborhoods. Also, another purpose that companies generally have is generating profits and keeping up a strong respectful image. Furthermore, in the synopsis it was determined

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

social responsibility is the thought that companies should focus more on their mandated roles and responsibilities and not focus so much on making profits similarities they all focus on serving the public they are not profit oriented similarities similarities similarities.

The one of the first questions in the survey tested the knowledge of participants about social enterprise. About 59% of the 217 respondents said that they did not know what a social enterprise was. This question provides one of the reasons for why students do not go to work or volunteer for social enterprises. Although a majority of respondents claimed

Social Responsibility refers to operating a business in a manner that accounts for the social and environmental impact created by the business. It means a commitment to developing policies that integrate responsible practices into daily business operations. Social responsibility is not just about managing, reducing and avoiding risk, it is about creating opportunities, generating improved performance, making money and leaving the risks far behind. High performance workplaces that integrate the views of line employees into decision-making processes

Advocates of social welfare argue that firms are obliged to act in a socially responsible manner. Dodd (xxx?) also argued that businesses must engage in social services, even at the expense of profits, in order to serve the best interests of employees, creditors, customers, and other stakeholders, as it appears that there exists a positive relationship between social and financial performance (xxx?), and socially responsible business practices affect all aspects of business operations and contribute significantly to corporate productivity and profitability (Website of Business for Social Responsibility). In other words, a corporation should engage with social interests in order to fulfil its social responsibility and to maximise long-run profits.

First, to define what a social entrepreneur is. According to one widely accepted definition, social entrepreneurs "adopt a mission to create

According to (Young, 2008) “A social enterprise is thought to be something new and something distinct from classical business and traditional non-profit activity, combining at different extents elements of the social purpose, the market orientation and financial performance standards of business”. When looking at starting up a social enterprise there are important points that need to be looked at the help ensure the enterprise is successful.

Over a long period time, the thought of social responsibility has been seen to grow and foster in its importance and significance. Mainly this is why it has been adopted and practiced across the United Kingdom and beyond by universities and business. Social responsibility is a concept that is defined, as the means a firm or business acts ethical and socially aware of their impact to society.

Presently, it has been admitted that the liquidity of every countries originated from the income generating from private sector as well as public sector is the one of significant for the social status expression. The income earned is more positive result of country progress to move forward. The country is minimizing his poverty shown the success of its progress in public administration of its government management via its country policy and plan. Therefore sustainability concept has been introduced by combining with business concept, and the profit would be generated along with the social problem is to be solved. Therefore, social enterprise is known as the kind of enterprise which helps to minimize the social poverty.

A social enterprise refers to a business organization that is motivated by the purpose of promoting social wellbeing (Park & Wilding, 2013, p. 237). Such an enterprise reinvests its profits in providing services that are beneficial to members of the society. Instead of depending on donations, social enterprises engage in business activities for the purpose of sustainably supporting socially and economically beneficial activities (Mswaka & Aluko, 2015, p. 58). Social enterprises seek to contribute towards positive change in the society through the introduction and implementation of innovative solutions to challenges or problems that affect a specific segment or population within the society (Brown & Knudsen, 2015, p. 182). In this paper, a social enterprise idea is presented with a goal of demonstrating that its positive contribution towards desired change in the society makes the business worthy investing in.

Corporate Social Responsibility can be defined has an obligation beyond that required law and economics , for a firm to purse long term goals that are good for the society. This entails the continuing commitment by business to behave ethically and contribute to economic development while improving quality of the workforce and their families as well as that of the local community and society at large. Bhatia (2004) defined corporate social responsibility as a tool that encompass good business ethics and encourage enterprises to be involved in social issues such as community improvement, improving underdeveloped working conditions and so on that are outside walls of the enterprise. Aleix Ferrer Duch

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.