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Small Business Economics

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01-04-2013

Business models for people, planet (& profits): exploring the phenomena of social business, a market-based approach to social value creation

Authors: Fiona Wilson, James E. Post

Published in: Small Business Economics | Issue 3/2013

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Abstract

This article explores the hybrid phenomenon of social business, that is, both a form of organization and a practice that deliberately harnesses market dynamics to address deeply rooted social issues through the design and implementation of a core product or service. This new form of hybrid venture melds the social purpose traditionally associated with non-profit organizations with the economic purpose and market-based methods traditionally associated with for-profit firms. This exploratory research inductively explores the process by which social businesses are designed. The result suggests that clear intentionality around social purpose drives the design of these ventures and their associated missions and business models such that they can creatively synthesize competing paradigms (economic and social purpose) within one venture. The tight coupling of mission, method, and operationalization allows for the multi-stakeholder promise of the business model to be fulfilled.

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Title: Business models for people, planet (& profits): exploring the phenomena of social business, a market-based approach to social value creation
Authors: Fiona Wilson
James E. Post
Publication date: 01-04-2013
Publisher: Springer US
Published in: Small Business Economics / Issue 3/2013
Print ISSN: 0921-898X
Electronic ISSN: 1573-0913
DOI: https://doi.org/10.1007/s11187-011-9401-0

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