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Strategic Formulation and Implementation of Social Entrepreneurs
Author(s): Charles A.C. Oham (University of Greenwich, UK)and Okeoma John-Paul Okeke (University of Wales Trinity St. David, UK)
Copyright: 2022
Pages: 21
EISBN13: 9781668455081
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Abstract
This chapter explores the theory and practice of strategy that social entrepreneurs deploy to run their ventures in a sustainable way. A critical link between strategy and practice of social enterprise is discussed in detail in this chapter. The chapter focuses on the strategic management framework and adapts it to include business analytical tools that social entrepreneurs use. Social entrepreneurs run businesses to generate earned income and reinvest profits back into the business for a social purpose rather than for personal gain like an entrepreneur. Social enterprises can mean different things to different people, they include a spectrum of trading organisations, such as cooperative societies; charities involved in a trading activity like charity shops; civic enterprises set up by local governments; credit unions and microcredit organisations run by social entrepreneurs. Social enterprise's mission and characteristics enable them to be very attractive to the public and stakeholders.
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