Operating in a business world, achieving corporate wellness and maximizing social value are the ultimate goals of a social enterprise. What is social value? What are the criteria for measuring effectiveness of a social enterprise?
Increase social impact
- Provide material help or assistance to underprivileged through expanding job opportunities and providing occupational trainings.
- Raise public awareness towards ethical consumption and mobilize mass public to support social enterprise development.
- Run business on commercial principles and learn the market trend.
- Business operation should be financially self-sustainable, start up funding only for initial stage.
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Operated in a business world, achieving corporate wellness and maximizing social value are ultimate goals of a social enterprise. What is social value? What are the criteria for measuring effectiveness of a social enterprise?
Financial Sustainability - Ability to retain sufficient cash to pay off its expenses
Recipent Benefits - Measure of tangible and intangible benefits created for the beneficiaries (Number of traininghours, skill advancement and self actualization)
Employment - Number of jobs created and employee profile
Outplacement - Assessment on the ability to return to the labour market (e.g. number of out-placed worker)
Community Engagement - Measure of increased community awareness as well as public engagement and supportiveness
Volunteer Force - Volunteer involvement in terms of magnitude of volunteering force, contribuiting hours and expertise