Examining the Intersection of Entrepreneurship and Social Impact: Analyzing How Social Entrepreneurs Create Sustainable Business Models — Oak Academic Publishing
Research ArticleOpen AccessGoogle Scholar indexed
Examining the Intersection of Entrepreneurship and Social Impact: Analyzing How Social Entrepreneurs Create Sustainable Business Models
The following paper examines the relationship between entrepreneurship and social impact, with a focus on how social entrepreneurs develop sustainable business models that allow them to combine added social value with economic sustainability. The research will assume a qualitative research design by conducting interviews with successful social entrepreneurs and also delve into case studies of successfully established social enterprises to bring out common elements surrounding business models and characteristics of the social entrepreneurs. From this perspective, the study contributes to the growing body of knowledge in social entrepreneurship by explaining the strategies of social entrepreneurs to be applied in achieving impact and financial sustainability.
KeywordsSocial EntrepreneurshipSustainable Business ModelsSocial ImpactFinancial ReturnsSocial Value Creation
Adhikari, B. B. (2022). How Innovation and Scaling Create Impacts in Social Enterprises: Insights from Nepal . Master’s Thesis, VID Specialized University, Oslo. https://vid.brage.unit.no/vid-xmlui/handle/11250/3017698
Agrawal, A., & Hockerts, K. (2021). Impact Investing: Review and Research Agenda. Journal of Small Busi ness & Entrepreneurship , 33 , 153-181. https://doi.org/10.1080/08276331.2018.1551457
Alinaghian, L., & Razmdoost, K. (2021). How Do Social Enterprises Manage Business Relationships? A Review of the Literature and Directions for Future Research. Journal of Business Research , 136 , 488-498. https://www.sciencedirect.com/science/article/pii/S0148296321005580 https://doi.org/10.1016/j.jbusres.2021.08.003
Angeli, F. (2022). Understanding the Evolution of BOP Narratives: A Systematic Literature Review and Topic Modeling Analysis. In F. Angeli, A. Metz, & J. Raab (Eds.), O r ganizing for Sustainable Development (pp. 46-72). Routledge. https://doi.org/10.4324/9780429243165-4 https://www.taylorfrancis.com/chapters/edit/10.4324/9780429243165-4/understanding-evolution-bop-narratives-federica-angeli
Aravind Eye Care System (2021). https://aravind.org/
Bortolini, R. F., Nogueira Cortimiglia, M., Danilevicz, A. D. M. F., & Ghezzi, A. (2021). Lean Startup: A Comprehensive Historical Review. M anagement Decision , 59 , 1765-1783. https://doi.org/10.1108/MD-07-2017-0663 https://www.emerald.com/insight/content/doi/10.1108/MD-07-2017-0663/full/html
Braun, V., & Clarke, V. (2022). Conceptual and Design Thinking for Thematic Analysis. Qualitative Psychology , 9 , 3-26. https://psycnet.apa.org/journals/qua/9/1/3/ https://doi.org/10.1037/qup0000196
Bruder, I. (2021). A Social Mission Is Not Enough: Reflecting the Normative Foundations of Social Entrepreneurship. Journ al of Business Ethics , 174 , 487-505. https://link.springer.com/article/10.1007/s10551-020-04602-5 https://doi.org/10.1007/s10551-020-04602-5
Canestrino, R., Ćwiklicki, M., Magliocca, P., & Pawełek, B. (2020). Understanding Social Entrepreneurship: A Cultural Perspective in Business Research. Journal of Business R esearch , 110 , 132-143. https://www.sciencedirect.com/science/article/pii/S0148296320300126 https://doi.org/10.1016/j.jbusres.2020.01.006
Christou, P. A. (2023). How to Use Thematic Analysis in Qualitative Research. Jo urnal of Qualitative Research in Tourism , 3 , 79-95. https://www.elgaronline.com/abstract/journals/jqrt/aop/article-10.4337-jqrt.2023.0006/article-10.4337-jqrt.2023.0006.xml
Comin, L. C., Aguiar, C. C., Sehnem, S., Yusliza, M. Y., Cazella, C. F., & Julkovski, D. J. (2020). Sustainable Business Models: A Literature Review. B enchmarking: An Intern a tional Journal , 27 , 2028-2047. https://doi.org/10.1108/BIJ-12-2018-0384
Dacin, M. T., Dacin, P. A., & Tracey, P. (2011). Social Entrepreneurship: A Critique and Future Directions. Organization Science, 22 , 1203-1213. https://doi.org/10.1287/orsc.1100.0620
de Mon, I. A., Gabaldón, P., & Nuñez, M. (2022). Social Entrepreneurs: Making Sense of Tensions through the Application of Alternative Strategies in Hybrid Organizations. Interna tional Entrepreneurship and Management Journal , 18 , 975-997. https://link.springer.com/article/10.1007/s11365-020-00731-5 https://doi.org/10.1007/s11365-020-00731-5
Eldar, O. (2022). The Organization of Social Enterprises: Transacting versus Giving . Duke Law School Public Law and Legal Theory Series 2019-44. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3217663
García, J. A., Rodriguez-Sánchez, R. M., & Fdez-Valdivia, J. (2022a). The Cross-Subsidy and Buy-One-Give-One Models of Compensated Peer Review: A Comparative Study for Mission-Driven Journals. Journal of Information Science . https://doi.org/10.1177/01655515221125321
García, M. D. M., Meneses, J. M. M., & Sandoval, K. V. (2022b). Theoretical Review of Entrepreneurship and Social Entrepreneurship Concepts. Jo urnal o f Administrative Science , 3 , 19-26. https://repository.uaeh.edu.mx/revistas/index.php/jas/article/view/7687 https://doi.org/10.29057/jas.v3i6.7687
García-Jurado, A., Pérez-Barea, J. J., & Nova, R. J. (2021). A New Approach to Social Entrepreneurship: A Systematic Review and Meta-Analysis. Sustain ability , 13 , Article No. 2754. https://www.mdpi.com/2071-1050/13/5/2754 https://doi.org/10.3390/su13052754
Girardi, A. (2022). Hybrid Organizations. In Encyclopedia of Sustainable Management (pp. 1-4), Springer International Publishing. https://link.springer.com/content/pdf/10.1007/978-3-030-02006-4_855-1.pdf https://doi.org/10.1007/978-3-030-02006-4_855-1
Global Impact Investing Network (2021). IRIS System . https://iris.thegiin.org/
Hasbu, W. Y., Zarkasyi, W., & Suharman, H. (2022). Does Creating Shared Value Have an Implication for Corporate Performance. Academy of Strate gic Management Journal , 21 , 1-12. https://search.proquest.com/openview/062fa493667236778a65de9b68950c88/1?pq-origsite=gscholar&cbl=38745
Hertel, C., Bacq, S., & Lumpkin, G. T. (2020). Social Performance and Social Impact in the Context of Social Enterprises—A Holistic Perspective. In A. Vaccaro, & T. Ramus (Eds.), Social Innovation and Social Enterprises: Toward a Holistic Perspective (pp. 1-50). Springer. https://www.researchgate.net/profile/Sophie-Bacq/publication/343126135_Social_Performance_and_Social_Impact_in_the_Context_of_Social_Enterprises-A_Holistic_Perspective/links/5f29b996299bf13404a23482/Social-Performance-and-Social-Impact-in-the-Context-of-Social-Enterprises-A-Holistic-Perspective.pdf
Hossain, M., & Shamsuddoha, M. (2020). Social Entrepreneurship: A New Genre of Entrepreneurship. Business Perspective Review , 2 , 60-68. http://www.riiopenjournals.com/index.php/business-perspective-review/article/view/58 https://doi.org/10.38157/business-perspective-review.v2i3.58
Howaldt, J., & Schwarz, M. (2021). Social Innovation and Social Change. In A Research Agenda for Social Innovation (pp. 39-57), Edward Elgar Publishing. https://www.elgaronline.com/edcollchap/edcoll/9781789909340/9781789909340.00010.xml https://doi.org/10.4337/9781789909357.00010
Hsieh, R. M., & Kelley, D. (2020). A study of Key Indicators of Development for University-Based Entrepreneurship Ecosystems in Taiwan region. Entr epreneurship Research Jou r nal , 10 , Article ID: 20180331. https://doi.org/10.1515/erj-2018-0331
Kamaludin, M. F., Xavier, J. A., & Amin, M. (2024). Social Entrepreneurship and Sustainability: A Conceptual Framework. Journal of Social Entrepreneurship , 15 , 26-49. https://doi.org/10.1080/19420676.2021.1900339
Landoni, P., & Trabucchi, D. (2020). Sustainability Models for Social Innovation Projects: An Empirical Perspective. In D. Fassi, et al . (Eds.), Universities as Drivers of Social I n novation (pp. 149-171). Springer. https://link.springer.com/chapter/10.1007/978-3-030-31117-9_11 https://doi.org/10.1007/978-3-030-31117-9_11
Manninen, K., Laukkanen, M., & Huiskonen, J. (2024). Framework for Sustainable Value Creation: A Synthesis of Fragmented Sustainable Business Model Literature. Manag e me nt Research Review , 47 , 99-122. https://doi.org/10.1108/MRR-03-2022-0177
Markovic, S., & Tollin, K. (2021). Business Model Innovation for Sustainability: The Intersections among Business Models, Innovation, and Sustainability. In The Handbook of Sustainability-Driven Business Strategies in Practice (pp. 144-157), Edward Elgar Publishing. https://doi.org/10.4337/9781789908350.00021 https://www.elgaronline.com/abstract/edcoll/9781789908343/9781789908343.00021.xml
Moran, M., & Ward-Christie, L. (2022). Blended Social Impact Investment Transactions: Why Are They So Complex? Journal of Business Ethics , 179 , 1011-1031. https://link.springer.com/article/10.1007/s10551-022-05153-7 https://doi.org/10.1007/s10551-022-05153-7
Nassos, G. P., & Avlonas, N. (2020). Pr actical Sustainability Strategies: How to Gain a Competitive Advantag e . John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=WlfPDwAAQBAJ&oi=fnd&pg=PR17&dq=Avlonas, N., & Nassos, G. P. (2013). Practical sustainability strategies: How to gain a competitive advantage. John Wiley & Sons.&ots=MZt1COepQ-&sig=hRLaZJsn8Fu5gNjqFRQ0MPR4Myw
Neessen, P. C., Voinea, C. L., & Dobber, E. (2021). Business Models of Social Enterprises: Insight into Key Components and Value Creation. Sustain ability , 13 , Article No. 12750. https://www.mdpi.com/2071-1050/13/22/12750 https://doi.org/10.3390/su132212750
Ostertag, F., Hahn, R., & Ince, I. (2021). Blended Value Co-Creation: A Qualitative Investigation of the Relationship Designs of Social Enterprises. J ournal of Business Research , 129 , 428-445. https://www.sciencedirect.com/science/article/pii/S0148296321000813 https://doi.org/10.1016/j.jbusres.2021.02.006
Osterwalder, A., Pigneur, Y., Smith, A., & Etiemble, F. (2020). The Invincible Company: How to Constantly Reinvent Your Organization with Inspiration from the World’s Best Business Models (Vol. 4). John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=vtHSDwAAQBAJ&oi=fnd&pg=PP21&dq=Osterwalder, A., Pigneur, Y., Smith, A., & Etiemble, F. (2020). The invincible company: how to constantly reinvent your organization with inspiration from the world's best business models (Vol. 4). John Wiley & Sons.&ots=JOuO1jRMhq&sig=awiwEjkYV5cIAkpxM6PaOb70a6w
Patton, M. Q. (2023). Qu alitative Research and Evaluation Methods: Integrating Theory and Prac tice . Sage Publications. https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url= https://www.amazon.com/Qualitative-Research-Evaluation-Methods-Integrating/dp/1412972124&ved=2ahUKEwis8tXiz42FAxWBQvEDHRUCAf8QFnoECA8QAQ&usg=AOvVaw2S3lrjJZSotAkLBd0kNhah
Perera, Y., Sharman, P., & Gomez, C. (2023). Social Value and Impact in the Context of Social Entrepreneurship . https://osf.io/d8ek4/resources
Proudfoot, K. (2023). Inductive/Deductive Hybrid Thematic Analysis in Mixed Methods Research. J ournal of Mixed Methods Research , 17 , 308-326. https://doi.org/10.1177/15586898221126816
Rajasinghe, D. (2020). Interpretative Phenomenological Analysis (IPA) as a Coaching Research Methodology. Coach ing: An International Journal of Theory, Research, and Practice , 13 , 176-190. https://doi.org/10.1080/17521882.2019.1694554
Schin, G. C., Cristache, N., & Matis, C. (2023). Fostering Social Entrepreneurship through Public Administration Support. International Entrepreneur ship and Management Journal , 19 , 481-500. https://link.springer.com/article/10.1007/s11365-023-00831-y https://doi.org/10.1007/s11365-023-00831-y
Schoch, K. (2020). Case Study Research. In G. J. Burkholder, et al . (Eds.), Research D e sign and Methods: An Applied Guide for the Scholar-Practitioner (pp. 245-258). SAGE Publications, Inc. https://www.researchgate.net/profile/Subhash-Basu-3/post/How_do_i_determine_the_sample_size_for_a_study_looking_at_the_treatment_outcomes_of_mental_health_patients_in_a_community_house/attachment/5ebbae3eead4db0001551c21/AS:890646755811328@1589358142328/download/105275_book_item_105275.pdf
Singh, N. (2021). Business Model for Social Entrepreneurship. In Search of Business Models in Social Entrepreneurship: Concepts and Cases (pp. 15-36). Springer. https://link.springer.com/chapter/10.1007/978-981-16-0390-7_2 https://doi.org/10.1007/978-981-16-0390-7_2
Somi, T. (2021). Scaling Social Business Models: A Lean Startup Perspective . Master’s Thesis, University of Twente. http://essay.utwente.nl/id/eprint/86435
Staller, K. M., & Chen, Y. (2022). Choosing a Research Design for Qualitative Research— A Ferris Wheel of Approaches. In The Sage Handbook of Qualitative Research Design (pp. 69-86). SAGE Publications Ltd. https://doi.org/10.4135/9781529770278.n6 https://www.torrossa.com/gs/resourceProxy?an=5282289&publisher=FZ7200#page=110
Taylor, R., Torugsa, N., & Arundel, A. (2020). Organizational Pathways for Social Innovation and Societal Impacts in Disability Nonprofits. VOLUNT AS: International Jou r nal of Voluntary and Nonprofit Organizations , 31 , 995-1012. https://link.springer.com/article/10.1007/s11266-019-00113-8 https://doi.org/10.1007/s11266-019-00113-8
Thomson, L., Sjödin, D., & Parida, V. (2021). Business Model Innovation as an Organizational Learning Process: Examining the Transition to Autonomous Solutions. S ervit i zation: A Pathway towards a Resilient, Productive, and Sustainable Future , 10 , 267. https://publications.aston.ac.uk/id/eprint/42739/2/SSC2021_Proceedings_final.pdf#page=279
Whitehead, D., & Whitehead, L. (2020). Data Collection and Sampling in Qualitative Research. In Nursing and Midwifery Research Methods and Appraisal for Evidence-Based Practice (6th ed., pp. 118-135). Elsevier. https://books.google.com/books?hl=en&lr=&id=9SUXEAAAQBAJ&oi=fnd&pg=PA118&dq= Purposeful sampling for qualitative data collection and analysis in mixed method implementation research&ots=aaIF5o8vbE&sig=cDl8VRBMj0kWJfZcuQcdSMvUlzI
Yaari, M., Blit-Cohen, E., & Savaya, R. (2021). Hybrid Organizational Culture: The Case of Social Enterprises. Journal of Soci al Entrepreneurship , 12 , 291-313. https://doi.org/10.1080/19420676.2019.1702581
Zafar, Z., Bait Ali Sulaiman, M. A., & Qalati, S. A. (2022). Social Entrepreneurship Orientation and Enterprise Fortune: An Intermediary Role of Social Performance. F rontiers in Psychology , 12 , Article ID: 755080. https://doi.org/10.3389/fpsyg.2021.755080 https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2021.755080/full