Open AccessPeculiarities of social business concept
Author(s) -
Artūras Simanavičius,
E. Kisielius,
Liliia Kharchevnikova,
Liliya Svorobovych,
Alla Chykurkova
Publication year - 2021
Publication title -
independent journal of management and production
Language(s) - English
Resource type - Journals
ISSN - 2236-269X
DOI - 10.14807/ijmp.v12i6.1757
Subject(s) - social business , popularity , business , new business development , exploit , business analysis , public relations , marketing , sociology , business model , computer science , political science , social psychology , psychology , computer security
The essence and uniqueness of social business in solving the most sensitive problems of the society, being able to survive independently and ensure the continuity of activities gives this form of activity an advantage and determines its growing popularity. There are many different definitions of social business. Some authors explain the definition of social business by distinguishing the main aspects that distinguish social business from other forms of activity. However, there are also forms very close to social business. The research objective is to present differences of social business concepts and to identify advantages of such initiatives. The analysis of social business concepts has shown that social business is defined by three principles: social business solves social problems that are not addressed by the public sector; the main motive of social business is public benefit; representatives of social business exploit market mechanisms (without excluding the existing ones) when creating social benefits. Research has shown that social business does not yet have one specific definition, but, according to the development and perception of social business, two main directions can be distinguished: Anglo-American and European.