An exploratory study on the key success factors for social enterprises

Abstract

This study aims to find out how to successfully operate a social enterprise making optimum use of social problem–solving capabilities and revenues management strategies. Specifically, this study seeks to identify the key success factors for managing social enterprises and to provide strategies for operating these social enterprises. A theoretical framework based on a review of literature is presented herein, using the case study method to illustrate the proposed framework. Three well–known cases in Taiwan are studied. The study results indicate that there are six key success factors for social enterprises: social mission and goals; social entrepreneurs' ability and personality; organisational preparation; innovative strategy of resource activation; competitive product and service; financial operations; and risk management. The results can serve as practical guides for the operation of social enterprises. Moreover, the current study can give researchers insights into categorising key success factors of social enterprises that are prevalent in the 21st century.