It is every business-persons ambition of making a positive influence on a society in general. To a greater degree, a big number of them realize this dream. Due to some companies striving to create an enterprise that has a positive control of the society at large, and other companies not engaging in this activity has led to creating unequal social enterprise.
In layman’s terms, a social enterprise can be described as an organization that utilizes different business strengths and tools with a target of satisfying the ever-growing social needs. These activities could involve introducing technologies in remote parts of the world like Africa or fighting with the ever growing poverty levels.
It should be noted that for a business to make a significant impact, it does not necessarily require focusing on the entire community. In the modern economy, the developing economy doesn’t require major corporations to be the major stakeholders and rather smaller businesses have the ability and capability of positively impacting the society. This means all Non-governmental organizations, should strive to incorporate businesses in different fields e.g. banking, insurance, utilities, and so on.
Businesses today can have an influence on the society through their service delivery, employment patterns, or by engaging in other societal benefiting activities. GoodGreenMoving describes following are some ways through which corporations use with a target of creating a better community.
As the word suggests, these companies operate without a target of getting profit. All revenue that a non-profit organization gets is then invested back to ensure that the project sails smoothly for a long period of time.
Mission first businesses
This type of businesses, are normally created to make profits but are first required to improve the social well-being of the society that is around. These types of businesses make profits but more of their efforts are inclined to making a significant change in the society.
This is a situation whereby a business can decide to impact the society by offering financial aids. Governments, on the other hand, encourage many companies to engage in community donations by not taxing that portion of the company revenue that is projected to be donated. The deductions facilitate the company to benefit the society accordingly.
Recently, another way of becoming a social charitable organization has been introduced. The B-corps criteria are provided to corporations that pass a set of guidelines qualifications that have been set which includes being transparent and having the social problems at heart. One example of a B-corp organization is Ben and Jerry company.