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

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  • Fiona Wilson
  • James Post

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. Copyright Springer Science+Business Media, LLC. 2013

Suggested Citation

  • Fiona Wilson & James Post, 2013. "Business models for people, planet (& profits): exploring the phenomena of social business, a market-based approach to social value creation," Small Business Economics, Springer, vol. 40(3), pages 715-737, April.
    • Handle: RePEc:kap:sbusec:v:40:y:2013:i:3:p:715-737
    DOI: 10.1007/s11187-011-9401-0
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    References listed on IDEAS

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    7. Peredo, Ana María & McLean, Murdith, 2006. "Social entrepreneurship: A critical review of the concept," Journal of World Business, Elsevier, vol. 41(1), pages 56-65, February.
    8. Kai Hockerts, 2006. "Entrepreneurial Opportunity in Social Purpose Business Ventures," Palgrave Macmillan Books, in: Johanna Mair & Jeffrey Robinson & Kai Hockerts (ed.), Social Entrepreneurship, chapter 10, pages 142-154, Palgrave Macmillan.
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    More about this item

    Keywords

    Social entrepreneurship; Social enterprise; Social purpose business venture; Social business; Business models; M10; M13; M14;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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