The fundamentals of running a social enterprise
My warmest greetings to you all!
As we are accelerating and heading towards mission 2024, let us pull the reins of the horses to navigate through the alley of our basics.
A social enterprise is a dynamic concept. It is a business organisation that is led by the urgency to achieve its specific social objectives in the most effective way possible. Unlike other traditional business models, the core objective of a social enterprise is profit-generation with purpose. Profit-generation is seen as essential to ensure long term sustainability and is used to maximise benefits to the society and community the social enterprise intends to serve.
Their core value systems drive social enterprises. These value systems are aligned with the organisation’s objectives. They ensure the singularity in purpose. This helps create clarity within the organisation and its employees, helping increase the organisation’s overall efficiency.
At LabourNet, we strive to address the societal problem of decent wages for the Indian informal sector. Our approach to this problem is the creation of a solution that is both economically and socially viable. We also aim to create a solution that is easily replicable so that it can be implemented on a macro-level. In the process of delivering sustainable solutions, we aim to achieve broader value concepts like creating social value, maximising social impact and accountability to different stakeholders.
What makes many social enterprises unique is that they focus on creating both social value and profit-generation. While doing so, these enterprises cater to the demands of all stakeholders. Stakeholder maximisation is an important priority for them, alongside ensuring sustainability both regarding the organisation, and the delivery of solutions.
This edition takes a peek into the various ‘Issues pertaining to Human resources in Social Enterprises’, and we had the privilege and the pleasure to feature a diverse set of perspectives from our fellow Social entrepreneurs and Impact Investors on the same.
I am looking forward to a year of improved perspectives and higher productivity.
Dr Gayathri Vasudevan, CEO
LabourNet Services India Pvt. Ltd.