Close

Delete Collection?

Are you sure you want to delete this collection permanently?

Close

Delete Collection?

Are you sure you want to delete this collection permanently?

Everyone has a Story to Tell and an Experience to Share!

Let’s Start Writing
bec1e3c6-02fc-4eb7-b06b-fc5f5854bb2d

Social Enterprise and How it Works

How does the third sector size up to the previous two?

The Social Enterprise model has been gaining media attention worldwide as an innovative type of financial exercise. 

This new business structure still has yet to be completely defined and understood, raising questions about how it will affect the existing economy. 

Examining what social enterprise is, where it fits within the traditional sectors, what its main goals are, where it has become popular and how it has grown in the past several decades can offer insight into the phenomenon.

A widely accepted and concise definition of the social business model has yet to be agreed upon by academia or the international economic community. 

Instead, many have tried to understand social enterprise by how it compares to already existing phenomenon. Through this comparison, some academics have labeled it the third sector of the economy, because of the model’s deviance from the standard public and private, for profit sector.

So how does the third sector size up to the previous two? Some of the features may seem familiar: social enterprises generate income by selling goods and services like most private businesses; social enterprise also has a core mission to impact the local community, region or globe in a meaningful way, similar to the traditional non-profit design. 

In some ways, social enterprise could be considered a union of the two ideas, with a mission at the core of its foundation and revenue playing a supporting role.

Some of the common goals of social enterprise include –but are not limited to –fair trade practices, medical access, youth outreach, environmental impact and women’s rights. One example is The Elvis and Kresse Organization, which takes industrial waste materials and turns them into luggage, donating 50 percent of its profits to the Fire Fighters Charity. 

Another example is Divine Chocolate, a fair trade chocolate company co-owned by the cocoa farmers cooperative KuapaKokoo in Ghana and Women Like Us, which connects women with flexible employment.  

Efforts like these have flourished since the mid 1990s in locations such as the United Kingdom, which estimates the total number of social enterprises at 68,000. Other countries in the EU, like Slovania, are struggling to generate efforts as quickly, but are benefiting from the assistance of the European Social Fund. 

In Asia, social enterprise faces different challenges, but has grown enormously with 116,000 entities in Thailand alone.

The successes can in part be accredited to legislative support, such as the Public Services (Social Value) Act. Despite progress and increased understanding, however, the realm of social enterprise must still be explored through legislation, academia and international dialogue.   

Categories

Business

Related Articles
#

There is no lack of evidence to support the fact that professionals in the sales sector can achieve performances which are superior to the average professional in the field when they are provided consistent and high-quality sales coaching from their mentors or their managers. The coach assigned with the task works to create improvements in the sales performances of the professionals.

These can be seen in the form of an increase in revenue, acquiring bigger deals, attaining higher close rates, negotiation of higher margins, deeper account penetration, and selling solutions among other major factors. The sales coach does this through imparting a direction and feedback on the performance of the sales professionals, using methods which are tried and tested through analysis of hundreds of sales measurement projects with the participation of organizations from over seventy countries across the world.

To decide whether you require the help of formal sales coaching is done through inspection of the current state of your sales teams and answer some important questions. First, you need to see if the sales goals, which were penned down by you, are being left incomplete due to your sales team having a few 2nd or 3rd quality members. Try to sense if the level of motivation in your sales team is low despite the best efforts of your sales leaders. Ask yourself if you would agree that formal sales coaching can play a role in uplifting the level of performances that your sales representatives have been delivering.

Sales leaders and managers benefit a lot from the core coaching skills and tools which are provided through this coaching. These are essential when it comes to the facilitation of the development of the sales team, which they lead with the help of a consistent process. The focus of the program lies towards contribution to the high level of performance from the sales team through the creation of standards of performance in clear sales, the tools and processes required to make successful sales.

This is accompanied by regular constructive feedback to the sales team for improving the methods and their efficiencies as they work on the development and monitor their sales plans for improvement in their performances. The workshop works for developing the optimal sales strategies, imparting the required knowledge as skills for your professionals and increase the engagement of your sales team along with their satisfaction to create a conductive environment for higher performances.

Reference Image
Close