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The Rise of the Social Business in Emerging Economies: A New Paradigm of Development

Author

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  • Shahriar Akter
  • Nabila Jamal
  • Md Mahfuz Ashraf
  • Grace McCarthy
  • PS Varsha

Abstract

Social business has emerged as a sustainable and innovative means to solve emerging social problems. Although it is gaining momentum, there is a paucity of studies on the drivers of social business models and its key success factors. Drawing on a systematic literature review and an in-depth analysis of 31 social businesses in Bangladesh, the study presents eight key drivers and four success factors for a sustainable social business model. The findings show eight key drivers for social business models including customer centricity, quality, social needs, latent demands, incidental gains, innovation through partnerships, inspirations from initiatives and collaborative eco-systems. The findings also report four critical success factors including social goals, collaboration, simplicity and start from home. Overall, this study discusses the scope of developing and sustaining social business models for empowerment, quality of life and economic growth in emerging economies.

Suggested Citation

  • Shahriar Akter & Nabila Jamal & Md Mahfuz Ashraf & Grace McCarthy & PS Varsha, 2020. "The Rise of the Social Business in Emerging Economies: A New Paradigm of Development," Journal of Social Entrepreneurship, Taylor & Francis Journals, vol. 11(3), pages 282-299, September.
    • Handle: RePEc:taf:jsocen:v:11:y:2020:i:3:p:282-299
    DOI: 10.1080/19420676.2019.1640772
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    Cited by:

    1. Amouri, Abdellatif & Festa, Giuseppe & Shams, S.M. Riad & Sakka, Georgia & Rossi, Matteo, 2021. "Technological propensity, financial constraints, and entrepreneurial limits in young entrepreneurs’ social business enterprises: The tunisian experience," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    2. Ritesh Shahi & Nadiya Parekh, 2022. "Financing Social Enterprises: An Upper Echelon Perspective," FIIB Business Review, , vol. 11(2), pages 235-250, June.
    3. Amalesh Sharma & Sourav Bikash Borah & Aditya Christopher Moses, 2024. "Achieving social and economic sustainability through innovations in transformative services: A case of healthcare organizations in an emerging market," Journal of the Academy of Marketing Science, Springer, vol. 52(5), pages 1366-1390, October.
    4. Isaac Lyne, 2023. "Does Thinking and Working Politically improve support for social business? Evidence from a water business in Cambodia," Development Policy Review, Overseas Development Institute, vol. 41(6), November.
    5. Vrontis, Demetris & Morea, Donato & Basile, Gianpaolo & Bonacci, Isabella & Mazzitelli, Andrea, 2021. "Consequences of technology and social innovation on traditional business model," Technological Forecasting and Social Change, Elsevier, vol. 170(C).
    6. Wang Jiatong & Cai Li & Majid Murad & Fakhar Shahzad & Sheikh Farhan Ashraf, 2021. "Impact of Social Entrepreneurial Factors on Sustainable Enterprise Development: Mediating Role of Social Network and Moderating Effect of Government Regulations," SAGE Open, , vol. 11(3), pages 21582440211, July.

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