There are countless businesses out there right now, and quite a lot of them would have you know that they’re in the picture purely for profit. This is entirely fine in the grand scheme of business ethics and strategy, but is focusing on nothing but profit the only way to achieve success? Not necessarily. In fact, with the emergence of more and more not-for-profit organizations proving that philanthropy is not dead and that it can be a force for good, businesses should be looking in this direction, at least partially, anyway.
So what is social business? What makes this so special?
Addressing Social Objectives are the Reason for Their ExistenceRather than a purely profit-driven motive, social businesses are in business to help solve a problem that is impacting society as a whole, a group of people, or even its own company or niche of business.Attempting to enhance the way people function in a particular group is something that can never go without notice, but it often does.While a company doesn’t often dedicate 100 percent of its resources to solving this social problem, it will focus one or more of its team to get the job done.If the objective is finally met...