Abstract
The emergence of social business enterprises has been attributed to the increased demand for sustainability among the non-profit organisations (NPOs) due to diminishing funding from traditional sources and increased competition for the scarce resources. To date, there is growing interest on social businesses (SBs) as innovation in providing public services that contributes to the social wellbeing of community. This in turn can be linked directly or indirectly to economic development as the sustainability level of the country is measured specifically towards the development of human capital and solving the social problems rather than the economics alone. Indeed, having both economic and non-economic aims, SBs would be the potential solutions to address a range of societal issues and increase the efficiency and quality of public sector services that focus on equitable growth with ecological sustainability. Therefore, it is important to explore the relationship between capability of SBs and the social impact created. This paper explores on capability based on human capital management and social impact or value created through SBs. This is expected to provide some insights on the sustainability and credibility of SBs to support the government efforts in moving towards high nation income.
Highlights
There was no clear, consensual definition of social enterprise in the literature (Hackett, 2010) and there is no consistently applied definition of social enterprise
They pointed out that the government’s newly effort to privatize public services, the initiative taken by the third sector in probing socioeconomic problems, the spirit of private firms engaging in corporate social responsibility and foreign players’ interest over social business fostering the kind of entrepreneurship activity
We noticed a remarkable growth in the third sector
Summary
There was no clear, consensual definition of social enterprise in the literature (Hackett, 2010) and there is no consistently applied definition of social enterprise. Social enterprise is a new concept of applying business expertise and market-based skills such as developing innovative approaches, selling products and offering services in trading business in order to generate income (Jiao, 2011). This is supported by (Rajput and Chopra, 2014) stating that the economies all over the world are realising that if we are somehow able to revert back to our original commercial path by taking up activities involving manpower rather than machines, our sustainability efforts shall be paced up. Much of the early social enterprise literature has focused on defining social enterprises, and adapting theories to explain their recent emergence
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