This case study analysis explores the concept of social enterprises and their purpose. It compares and contrasts two selected social enterprises based on their structure and financing. It also discusses the influence and impact of social entrepreneurs and the skills and areas of interest required to become a social entrepreneur.
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ES1 Case Study Analysis
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INTRODUCTION.......................................................................................................................................4 PART 1.......................................................................................................................................................4 Socialenterprise and purpose of social enterprises..................................................................................4 PART 2.......................................................................................................................................................5 How selected organizations are addressing social issues in effective manner as well as explain why these organizations has been selected......................................................................................................5 PART 3.......................................................................................................................................................7 Selected social enterprises will compare and contrast on the basis of structured and financed................7 PART 4.......................................................................................................................................................7 Influenceandimpactofthesocialentrepreneuroftheorganizations and skills as well as areas of interest to becoming a socialentrepreneur...............................................................................................7 Skills and areas of interest to becoming a socialentrepreneur................................................................8 CONCLUSION...........................................................................................................................................9
INTRODUCTION Thesocialenterprisesaremainlybusinesseswhichdevelopedsocialpurposein sustainable manner. These provide the income generation related opportunities which meet requirements of the people. They are mainly earned income from the sales which reinvested in mission (Carraher, Welsh and Svilokos, 2016). The social enterprise is a firm that mostly applied the commercial strategies in context to make improvement in environmental, financial and social wellbeing. In given report, there will be discussed about the social enterprise and its purpose. There will be two different social entrepreneurs chosen from similar sector and compare their motivations. PART 1 Socialenterprise and purpose of social enterprises A social enterprise or a social corporation is explained asbusiness with particular social purposes. Social enterprisesaim to increase profits and optimize environmental benefits. Its revenues are used primarily to support the social programs. The idea of a social company was designed to counter conventional commercial company in the United Kingdom in the late 1970s. In the convergence of the private and public sectors, social enterprises thrive. It seeks to align financial gain programs with social priorities, including accommodation for low-income families or training in the workplace.In thelarge part because term has evolved rapidly over the past few years and is fading increasingly in line with conventional business, governmental and non-profit industries, social corporations may have challenges to define. Social companies are organizations formed in a financially viable manner for social purposes. Social corporations should build income opportunities for people living in poverty to meet basic needs of the community. They are sustainable and revenue profits reinvested in mission (Chell and et. al., 2016). Role and Purpose of Social Enterprise Social enterprisesprovide a purposeful culture. Such businesses use most local people as way both to provide them with jobs and to respond to their community's call for change. They will satisfy their hearts through engaging in this social action. Communities feel better integrated
as they situate themselves in social projects with their fellow citizens. A large number of people are required to create a social business like this. Cooperation is therefore required in rural communities to preserve social enterprise.Social firms aim to innovate and evolve in a way which is typically intended to fill the void in current public or private infrastructure. They also meet people with social exclusion by offering incentives for volunteers, training and jobs. Social enterprises may contribute to social identification in communities, helping local public to build their self-confidence. Finally, social companies are usually formed to maintain and reinvest incomeinlocaleconomy.InthegrowthofcompaniesinProvidence,SocialCompany Greenhouse plays crucial role. Social Enterprise Greenhouse's goal is to create meaningful economic and social impacts by helping social entrepreneurs and businesses through their instrumentsandnetworks.Organizationisnetworkofmembersfrombusinessesand communities who bring time, expertise and resources to bring about meaningful social change by social companies. They do this by supplying social enterprises and entrepreneurs with tools they need to pass from concept to implementation. Incubation, later phase plan growth, financial services and the downstream market (Dwivedi and Weerawardena, 2018) PART 2 How selected organizations are addressing social issues in effective manner as well as explain why these organizations has been selected. Social enterprise is defined as business which has specific social objectives which serve its primary purpose. In addition to this, social enterprises seek to maximize profits while maximizing benefits to society as well as environment. Moreover, profit principles of social enterprise are used for funding social programs. Example of some social enterprises are mention below :- Charity Bankâ It is an independent bank which lend money to social enterprises and charity. Charity bank was founded in 2002 to act as an saving bank as well as specialist loans for charitiesandsocialenterprises(Powell,GillettandDoherty,2019).Thereareseveral shareholders of charity bank such as charitable trust, foundations as well as other social purpose organization. In addition to this, charity banks funds loans by offerings deposit accounts and savings to businesses, trust, charities, credit unions and individuals in United Kingdom. It is also
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PART 3 Selected social enterprises will compare and contrast on the basis of structured and financed. Big Issue Invest â It offers social enterprises, charities as well as profit with purpose businesses loans and invest fromÂŁ20,000 to ÂŁ3 million. Along with this, since 2005 Big Issue Invest have invested within more than 400 social enterprises and charities across the United Kingdom. In addition to this, Big Issue Invest currently manages or advises on over ÂŁ250 million of impact funds as well as is creating the United Kingdomâs first Social Merchant Bank through social entrepreneurs for social entrepreneurs. Charity Bank - It was founded in 2002 to act as an saving bank as well as specialist loans for charities and social enterprises. There are several shareholders of charity bank such as charitable trust, foundations as well as other social purpose organization. In addition to this, charity banks funds loans by offerings deposit accounts and savings to businesses, trust, charities, credit unions and individuals in United Kingdom. It is also member of financial services compensation scheme, the United Kingdomâs deposit protection scheme. Along with this, in todays world charities is needed more but it is also becoming more challenged. That is why promise of supporting charitable activities and supporting people to save as well as do good thing is more important than ever. Thus, these both are social enterprises who are getting funds or financed from different sources for conducting their operations in effective manner (Davies, Haugh and Chambers, 2019). Along with this, they both work for welfare of society and provide funds to needy people so they will be able to do something by their own and get better living standards. PART 4 Influenceandimpactofthesocialentrepreneuroftheorganizations and skills as well as areas of interest to becoming a socialentrepreneur Social entrepreneursmean changing existing markets that do not work and building new ones to change the status quo. These are individuals who have financial and organizational expertise to start a business effectively, with social impact as their key goal. A 'Theory of Change' is one way for social entrepreneurs to solve this issue and to measure success. The
system aims at understanding short- and long-term effects of the actions of a social organization and explains how realistic improvements can be made. Society entrepreneurs were keen to find potential opportunities in a specific social problem, to create technologies leading to innovative new solutions, to demonstrate transparency through frequent performance and impact measures and to secure reliable revenue sources. With their creative strategy, social entrepreneurs make progress in education industry. Most entrepreneurs use technology in order toreach themasses and enable them to learn. Some of us form an energetic team of people concerned towards education. Monetary benefit is only tool for theentrepreneurs to achieve goals which focus on people. Of course, social entrepreneurship is much more than economic activity-at a time whentheyneed them, it provides society with constructive ideas that change the world. Social entrepreneurship is important because social benefits are maximized (Rahdari, Sepasi and Moradi, 2016). Skills and areas of interest to becoming a socialentrepreneur Innovation and Creativity-Innovation and creativity encourage the creation of new ways for social entrepreneurs to provide their services and goods. The development, transition and scale are crucial in changing economic world full of complexities and uncertainties. Creativity and innovation require preparation and practice. This is not just to make or to do something else. Theorganizationswithsocialimpactmustpayattentionwithinnovationandcreative preparation. Projectmanagement-Inventiveprojectmanagementprovesextremelyusefulin resource-limited environment. This allows social entrepreneurs to build an immediate sense of accomplishment, while staying agile and open to new risk areas. Project management assumes responsibility,assignsrolesandidentifiessuccessesandperformancesteps(Rawhouser, Cummings and Newbert, 2019). Public speaking- Social entrepreneurs need to be successful public speakers to achieve their dream. Change needs to be motivated. Social entrepreneurs need to be able to interact their vision effectively to gain traction. Even individuals aware of social inequality in world will challenge everyone to inspire people. This means that people are called upon to step away from rituals and act. Public speaking also is way of achieving such goal as it brings together a variety of significant and mutually related influences and synergies. Multitudes consisting of identical
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