Soul Of The Next Economy Analysis

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During the Soul of the Next economy forum there was four key themes that were introduced. In my report I will be discussing social enterprise. What is social enterprise comprised of? Social enterprise is comprised of entrepreneurial principles that organize, create, and manage change around a social issue. The social enterprise platform is to establish a profitable business, but also to make a change in society through positive development in the community. Social entrepreneurs utilize innovative ideas to society’s critical social problems and apply commercial strategies to maximize improvements in human and environmental well-being. Maximizing social impact rather than profits for external shareholders is key to social enterprise. This can …show more content…
Their general motive is self-interest. Customers pay fair market prices. Investors provide capital and market rates. Employees receive market salaries and suppliers charge full market prices. With social enterprise it provides an opportunity for people who live locally to gain employment; introduce a change that is positive to the community. It provides a chance for people with low incomes to have a means of employment. There is also a sense of satisfaction knowing that you are making a difference to society in a genuine, and fulfilling way. Business is also important to God and it enables individuals to express their God-given talents by participating in meaningful and creative work. Like Van Duzer said: “When humans engage in creative, meaningful work that grows out of relationship and gives back to community they become more deeply human.” This relates to social enterprise because these entrepreneurs are developing an enterprise that thrives on the opportunity to earn profit but to also to provide a service that is improving our economy by creating value to it. Although, with benefits there becomes challenges. But it’s important to recognize that one can learn just as much from their challenges as they can with benefits when social enterprises are successful. Like any business, social enterprise can fail when the market changes or doesn’t work and despite the hard work and continuous effort, the goal …show more content…
They are a for-profit organization with a mandate to provide employment, mentoring, and advocacy for deserving members of the community. Another important goal is being a capitalist and achieving financial success for themselves, their investors, but also a living wage for their employees. They believe that in order to balance profit ability and social change, they need to make a conscious effort by meeting with managers to discuss how the company is doing and discuss how the customers and employees are doing as well and what’s going on in the city that they should be looking out for. Andrew Bitcon, owner of Bubbles Car wash, says that these two goals aren’t always mutually exclusive. His example was when he first started out in the business and they employed a lot of single mothers. The problem was that the mothers were not getting to work on time because they needed to take the transit to get to day care to drop off the children an then come to work, which resulted in them coming late and also leaving early to pick them up. They decide to use a van that they have a let the mothers come to work with the kids, and they will load the kids on it and drive them to daycare. It doesn’t cost them much but a bit of gas, but it’s a huge benefit for single mothers to get to work on time and leave in good time, which is a significant social change in social enterprise. A way that
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