THE STUDY OF THE COMPONENT OF THE SOCIAL ENTERPRISE SUCCESS
Article Sidebar
Main Article Content
Abstract
Global social enterprise growth occurred in the 20th century, propelled by movements like fair trade and microfinance. Social businesses are still expanding and innovating in many different sectors and areas. It tackles difficult social issues by fusing the effectiveness of the private sector with a non-profit mentality. Strive for self-sustainability at the same time. This article aims to study the components of social business success by studying academic documents related to social business as well as the success of its operations, analyzing and synthesizing them, and then presenting the issues according to the study objectives. The results of the study found that the components of the social business enterprise include: (1) Clear Social Mission, (2) Innovative Approach, (3) Market Orientation, (4) Effective Leadership, (5) Strong Governance, (6) Financial Sustainability, (7) Measurable Impact, (8) Collaborative Partnerships, Adaptability and Resilience, and (10) Dedicated Team. In conclusion, the study identifies critical elements that are essential to the success of social business ventures, highlighting the necessity of a distinct social mission, creative tactics, and a focus on the market. Long-term viability depends on strong leadership, sound governance, and sustainable finances; accountability and growth are ensured by quantifiable impact and cooperative partnerships. Adaptability, resilience, and a committed team are essential for thriving in dynamic environments; this suggests a comprehensive strategy that combines business acumen with social purpose for long-term impact.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Permission to use text, content, images, etc. of publication. Any user to read, download, copy, distribute, print, search, or link to the full texts of articles, crawl them for indexing, pass them as data to software, or use them for any other lawful purpose. But do not use it for commercial use or with the intent to benefit any business. Published under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
References
Austin, J. Stevenson, H., Wei-Skillern, J. (2012). Social and commercial entrepreneurship: same, different, or both? Revista De Administração, 47(3), 370-384.
Austin, J., Stevenson, H., & Wei-Skillern, J. (2006). Social and commercial entrepreneurship: Same, different, or both? Entrepreneurship Theory and Practice, 30(1), 1-22.
Bacq, S., & Janssen, F. (2011). The multiple faces of social entrepreneurship: A review of definitional issues based on geographical and thematic criteria. Entrepreneurship & Regional Development, 23(5-6), 373-403.
Battilana, J., & Dorado, S. (2010). Building sustainable hybrid organizations: The case of commercial microfinance organizations. Academy of Management Journal, 53(6), 1419-1440.
Battilana, J., & Lee, M. (2014). Advancing research on hybrid organizing – Insights from the study of social enterprises. Academy of Management Annals, 8(1), 397-441.
Borzaga, C., & Defourny, J. (2001). The emergence of social enterprise. Routledge.
Bruder, I. (2021). A Social Mission is Not Enough: Reflecting the Normative Foundations of Social Entrepreneurship. J Bus Ethics, 174, 487–505 (2021). https://doi.org/10.1007/s10551-020-04602-5
Bull, M., Ridley-Duff, R., Foster, D., & Seanor, P. (2010). Conceptualising Ethical Capital in Social Enterprise. Social Enterprise Journal. 6(3), 250-264. https://doi.org/10.1108/17508611011088832
Dacin, M.T., Dacin, P.A., & Matear, M. (2010). Social entrepreneurship: Why we don't need a new theory and how we move forward from here. Academy of Management Perspectives, 24(3), 37-57.
Dart, R. (2004). The legitimacy of social enterprise. Nonprofit Management and Leadership, 14(4), 411-424.
Dees, J.G. (1998). The meaning of social entrepreneurship. Stanford University, Graduate School of Business, Center for Social Innovation.
Dees, J.G. (2007). Taking social entrepreneurship seriously. Society, 44(3), 24-31.
Defourny, J., & Nyssens, M. (2010). Conceptions of social enterprise and social entrepreneurship in Europe and the United States: Convergences and divergences. Journal of Social Entrepreneurship, 1(1), 32-53.
Defourny, J., & Nyssens, M. (2023). "Chapter 21: Social enterprises". In Encyclopedia of the Social and Solidarity Economy. Cheltenham, UK: Edward Elgar Publishing. Retrieved Feb 29, 2024. https://doi.org/10.4337/9781803920924.00034
Dey, P., & Steyaert, C. (2012). Social entrepreneurship: critique and the radical enactment of the social. SocialEnterprise Journal, 8(2), 90-107. https://doi.org/10.1108/17508611211252828
Díaz-Foncea, M., & Marcuello, C. (2023). Social Enterprises: Conceptual Debates and Approaches. In: Peter, H., Vargas Vasserot, C., Alcalde Silva, J. (eds) The International Handbook of Social Enterprise Law. Springer. https://doi.org/10.1007/978-3-031-14216-1_7
DiMaggio, P.J., & Powell, W.W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48(2), 147-160.
Doherty, B., Haugh, H., & Lyon, F. (2014). Social enterprises as hybrid organizations: A review and research agenda. International Journal of Management Reviews, 16(4), 417-436.
Dorado, S., & Ventresca, M.J. (2013). Crescive entrepreneurship in complex social problems: Institutional conditions for entrepreneurial engagement. Journal of Business Venturing, 28(1), 69-82.
Dyllick, T., & Muff, K. (2016). Clarifying the meaning of sustainable business: Introducing a typology from business-as-usual to true business sustainability. Organization & Environment, 29(2), 156-174.
Fitzhugh, H., & Stevenson, N., (2022). Inside Social Enterprise. Cambridge Press. https://doi.org/10.46692/9781447310365
Galera, G., & Borzaga, C. (2009). Social enterprise: An international overview of its conceptual evolution and legal implementation. Social Enterprise Journal, 5(3), 210-228. https://doi.org /10.1108/17508610911004313.
Gertner, R.H. (2023). The Organization of Social Enterprises. Annual Review of Economics, 15(1), 41-62. https://doi.org/ 10.1146/annurev-economics-082222-075249
Granovetter, M. (1985). Economic action and social structure: The problem of embeddedness. American Journal of Sociology, 91(3), 481-510.
Halsall, J.P., Snowden, M., Clegg, P., & et al. (2022). Social enterprise as a model for change: mapping a global cross-disciplinary framework. Entrep Educ, 5, 425–446 (2022). https://doi.org/10.1007/s41959-022-00084-w
Hockerts, K., & Wüstenhagen, R. (2010). Greening Goliaths versus emerging Davids—Theorizing about the role of incumbents and new entrants in sustainable entrepreneurship. Journal of Business Venturing, 25(5), 481-492.
Jones, M. S., & Solomon, J. (2019). Challenges and Supports for Women Conservation Leaders. Conservation Science and Practice, 1, e36. https://doi.org/10.1111/csp2.36
Klein, M. (2023). Social Entrepreneurship. In: Chacko Chennattuserry, J., Deshpande, M., Hong, P. (eds) Encyclopedia of New Populism and Responses in the 21st Century. Springer, Singapore. https://doi.org/10.1007/978-981-16-9859-0_221-1
Kreutzer, K. (2022). 24: Social Enterprises. In Elgar Encyclopedia of Public Management. Cheltenham, UK: Edward Elgar Publishing Limited. Retrieved Feb 29, 2024, from https://doi.org/10.4337/9781800375499.social.enterprises
Kulshrestha, R., Sahay, A., & Sengupta, S. (2022). Constituents and Drivers of Mission Engagement for Social Enterprise Sustainability: A Systematic Review. The Journal of Entrepreneurship, 31(1), 90-120. https://doi.org/10.1177/09713557211069301
Mair, J., & Martí, I. (2006). Social entrepreneurship research: A source of explanation, prediction, and delight. Journal of World Business, 41(1), 36-44.
Narver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54(4), 20-35.
Nicholls, A. (2010). The legitimacy of social entrepreneurship: Reflexive isomorphism in a pre-paradigmatic field. Entrepreneurship Theory and Practice, 34(4), 611-633.
Panie, N., & Nae, T. (2023). Social Enterprises – a Key Factor in Strengthening Cohesion and a Fair Transition. Proceedings of the International Conference on Business Excellence, 17(1) 839-852. https://doi.org/10.2478/picbe-2023-0077
Phills Jr, J.A., Deiglmeier, K., & Miller, D.T. (2008). Rediscovering social innovation. Stanford Social Innovation Review, 6(4), 34-43.
Roy, M.J., Donaldson, C., Baker, R., & Kerr, S. (2014). The potential of social enterprise to enhance health and well-being: A model and systematic review. Social Science & Medicine, 123, 182-193. https://doi.org/10.1016/j.socscimed.2014.07.031.
Sarasvathy, S.D. (2001). Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Academy of Management Review, 26(2), 243-263.
Seelos, C., & Mair, J. (2007). Profitable business models and market creation in the context of deep poverty: A strategic view. Academy of Management Perspectives, 21(4), 49-63.
Smith, W. K., Gonin, M., & Besharov, M. L. (2013). Managing Social-Business Tensions: A Review and Research Agenda for Social Enterprise. Business Ethics Quarterly, 23(3), 407-442.
Ventura, L. (2023). The Social Enterprise Movement and the Birth of Hybrid Organisational Forms as Policy Response to the Growing Demand for Firm Altruism. In: Peter, H., Vargas Vasserot, C., Alcalde Silva, J. (eds), The International Handbook of Social Enterprise Law. Springer, Cham. https://doi.org/10.1007/978-3-031-14216-1_2
Yunus, M., Moingeon, B., & Lehmann-Ortega, L. (2010). Building social business models: Lessons from the Grameen experience. Long Range Planning, 43(2-3), 308-325.