Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Should Companies Embrace Social Business
Social Entrepreneurship Overview
Social Entrepreneurship Overview
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Should Companies Embrace Social Business
Want to make a living out of doing good works? If so, what's right for you is starting a social enterprise. If you don't know how to set one up, here's a great source (https://www.gov.uk/set-up-a-social-enterprise) that might help.
Social enterprise, by definition, is a kind of organisation that uses commercial strategies in order to maximise improvements in the environment and human welfare. This is in contrast to a for-profit business, wherein its aim is to generate revenues with little regard to important environmental concerns and humane interests. Creating a company with social interests almost always offer less benefits to the investors, except the fact that they contribute greatly to the community. Business-minded individuals who venture into this type of business are regarded as philanthropic, charitable and responsible.
Because such individuals get to make a difference in their small communities, and may be in their own countries as well, social entrepreneurship has been growing enough to even outstrip most of the conventional entrepreneurial sectors. So if you want to join the bandwagon and make a difference, hop in. Check out this article on social entrepreneurship activities that are currently in operation (http://www.socialentrepreneurshipscene.com/examples-of-common-social-entrepreneurship-ideas-in-operation/) for some ideas.
While social enterprise is a worthy and noble idea, one major problem to it, however, is the fact that the endeavour can be hard-pressed to thrive without compromising or straying from its original commitments to society and its principles? This a question that is raised often, and there are different answers to that. Below are some factors that might give you some insights though:
Be Co...
... middle of paper ...
...vision and mission clearly and prominently to them.
Associate with Good Neighbours
During its infancy, an enterprise will most likely handle all the aspects of its operations. As it grows, however, there are some functions that may be outsourced to other companies. As you do this, make sure that you only deal with companies that share your values.
For example, if you're an eco-friendly company focused on selling handbags using recycled materials, don't get your supplies from a company that exploits children or run a manufacturing factory under inhuman conditions. Otherwise, this may tarnish your reputation and hurt your company in the long run.
Growing a social enterprise can be a big challenge. As long as you stay focused on your company's vision and mission, you'll be able to reach great heights ― perhaps more than you've ever imagined for your enterprise.
Social responsibility can be defined as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.
Corporate social responsibility (CSR) invaded the corporate world over the last few decades. This concept has become an essential need for competitive advantage unlike its original role as a nicety. The companies have seen the business benefit of the initiative and stakeholders have appreciated the initiative. This has led to the wide application in the firm’s operational agenda.
Social finance is seen as an approach aimed as mobilizing private capital in order to ensure the delivery of economic returns and social dividends to attain environmental and social goals (2). It also creates many opportunities for various investors to finance certain projects to benefit community and society organizations to access other sources of funds. The description of the policy issue, as social finance, is conveyed by the implementers who involve mainly political leaders, interest groups, state legislatures, congress, and government bureaucracies. The problem from the policy is defined based on the economic situation of the society before its introduction and implementation. Social finance, as an initiative, is a form of a business with the aim of bettering society economically and having a positive social impact such as creating new job opportunities and funding business development programs. Since 2004, over $67.7 million has been invested in over 7300 businesses and community development projects (3). The description of the problem also involves understanding of the situation in the absence of the initiative. The policy, as a problem,...
One might ask how a common man of society could be able to give back without knowing what his talents might be. As with any society, if the people do not play a role, the society
DBQ Social responsibility is an obligation to act for the benefit of society at large. One of the many social responsibilities of a business is to maximize profits but this is not the only social responsibility of business. There are many social responsibilities to take into consideration when striving to expand and maximize your business. Wanting to maximize profit and minimize cost can be perceived as greed but this assumption is wrong. A man with a straight forward mindset , a man that won a nobel prize for his extensive knowledge and studies in business stated that there's one and only one social responsibility of business and that is
To supply the wants and needs of a consumer, society entrusts wealth-producing resources to the business enterprise.” (Santayana, George. Is The Tyranny Of Shareholder Value Finally Ending? So before we go into greater detail on the different perspectives related to social responsibility, one might question the meaning of social responsibility. It is generally agreed that social responsibility is defined as the business obligation to make decisions that benefit society.... ...
There are several ways in which an individual or a business can be socially responsible that we have seen in our reading. In Animal Farm by George Orwell, the pig, Napoleon, manipulated his workers to improve the farm in any way possible while still convincing them that he is a much better leader than their previous leader Mr. Jones. In All My Sons by Arthur Miller, the father tries to hide the truth and in doing so, causes the death of his own son. And finally in the movie “The Corporation” there is Shell, a big company that not only harvests much of the Earth's resources, but damages the environment in which it produces oil. I myself will be different from this. I shall be socially responsible by not exploiting the unintelligent, evaluating my decisions and the impact they have on society, and...
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 responsibility-laws that business must obey, ethical responsibilities-behaviors and activities that are expected of business by society, but are not codified in the law, philanthropic responsibilities-represent the company’s desire to give back to society (charietys, volunteering, sponsoring).
Government support for social economy entities is recognized in European Union, Brazil and Argentina. While in countries of Africa and Asia support is built by the citizens forums and networks on sustainable development and by United Nations agencies. Among policy themes on social enterprises are: improving access to financial resources; research for increasing understanding and visibility; capacity building; ac¬cess to public procurement.
The arguments for and against corporate social responsibility have captured two points of view. Those who believe that organizations should not be concerned about social responsibility base many of their arguments on the costs involved and whether organizations should shoulder those costs on behalf of society. And those who are in favor feel that organizations benefit from society and, therefore, have an obligation to improve it. Although there is no universal agreement, surveys and other reports express that many organizations are, becoming increasingly active in addressing social
The Mai Riang community bank was established in June, 1999 which was funds to support the operation of “Mai Riang Community Leader Council” through rendering assistance in order to earn a living of members that emphasized by sufficiency, so that each member is limited to borrow money mere 15,000 Thai Baht per person as well as to raise funds in the community to be proper with the needs of lending that is a resource management by the community members that as though self-reliance by helping each other. Thus, coordination, stability and progress of community bank are administered by the council who has trusted by community members as well as the council should know how to behave morally which includes honesty, sincerity, responsibility and transparency to work can be checked at any time.
Social entrepreneurs drive social innovation and transformation in various fields including education, health, environment and enterprise development. They pursue poverty alleviation goals with entrepreneurial zeal, business methods and the courage to innovate and overcome traditional practices. A social entrepreneur, similar to a business entrepreneur, builds strong and sustainable organizations, which are either set up as not-for-profits or companies.
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...
Social sustainability is “identifying and managing business impact, both positive and negative, on people.” The quality of a company’s relationships and engagement will directly or indirectly “affect what happens to employees, workers in the value chain, customers and local communities” (Wynhoven). This definition focuses on the importance of sustainable relationships. It focuses on the social aspect, which can be good helping to determine what social sustainability looks like. The UN definition makes it clear that it is important to manage the corporation’s impact proactively so that employees, customers, and local communities all benefit from a corporation’s presence. BMW is an excellent example of a corporation that focuses on social sustainability. BMW promotes exchange between refugees, local youth, and BMW employees through a neighborhood project called “Lifetalk” which aims “to give young people a better idea of possible career paths” (BMW). These actions come from the company’s beliefs and goals. BMW states that “taking social and environmental responsibility for everything we do is an integral part of how we perceive ourselves as a company. We are convinced that the lasting economic success of any enterprise these days is based increasingly on acting responsibly and ensuring social acceptance” (BMW). BMW believes that sustainability is an
Corporations that place an importance on corporate social responsibility usually have an easier experience when dealing with politicians and government regulators. In compare, businesses that present an irresponsible disregard for social responsibility tend to find themselves fending off various reviews and probes, often brought on at the assertion of public service organizations. The more positive the public insight is that a corporation takes social responsibility seriously; the less likely it is that innovative groups will launch public campaigns and claim government inquiries against it.