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Background of Social Enterprises - Term Paper Example

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This paper "Background of Social Enterprises" focuses on the fact that social enterprises aim at attaining triple bottom line measurements that include economic, social, and environmental objectives. These are organizations that attain their mission through the use of business methods. …
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Background of Social Enterprises
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Download file to see previous pages The enterprises must ensure collaboration and implement competitive strategies that will ensure sustainability in providing high-quality products and services to their stakeholders. The enterprises must remain committed to their strategies bottom lines of improving social and environmental welfare of the society. In addition, national government agencies must support their activities through a favourable regulatory framework.
Social enterprises aim at attaining both commercial and social goals. In this case, a social enterprise whether for-profit or non-profit organization will strive to attain social, cultural, economic, and environmental outcomes through redirecting the surplus towards the pursuit of environmental and social goals (Paton 2003). The businesses range from credit unions, community centres, and companies that engage in solving societal problems such as producing renewable energy (Doherty 2008). Social enterprises can take the form of community interest company (CIC) whereby the social mission of the organisation is regulated or industrial and provident society (IPS) which is co-operative that is democratically controlled by the members for the benefit of the society (Ridley-Duff and Bull 2011). Another form is the companies limited by shares or guarantee whereby the memorandum of association outlines how the profits will be channelled towards social causes. The fourth is the group structures that have charitable status whereby companies engage in charitable activities in order to enjoy tax benefits (Doherty 2008).
Unlike commercial enterprises that focus on profit maximisation, social enterprises have limited access for debt financing and attain most of their financing from grants such as trusts and foundations (Doherty 2008).
Other sources of financing include community finance from credit unions, equity finance from the founders, fundraising drives, and separate revenue-generating activities that aim at gaining surplus for undertaking social and environmental initiatives (Gunn and Durkin 2010).  ...Download file to see next pagesRead More
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