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Our Shared Future, Malta
Transcript of Our Shared Future, Malta
– the undertaking provides services or goods to vulnerable or marginalised persons; or
– the undertaking employs a method of production of goods or services that embodies its social objective;
(ii) uses its profits to achieve its primary objective instead of distributing profits and has in place predefined procedures and rules for any circumstances in which profits are distributed to shareholders and owners;
(iii) is managed in an accountable and transparent way, in particular by involving workers, customers and stakeholders affected by its business activities." A Social Enterprise is a “qualifying portfolio undertaking which What are the Challenges? Realised Impact In essence, Social Enterprise pursues public good from economic activities without depending on others either public funding or private philanthropy. Social Enterprise needs to devise a way to attract and reward private investment without losing focus Already there is Social Enterprise coming from developing countries In the early days of globalisation, American networks spread by relying on corporate philanthropy and Europeans on aid policy but the future will be challenging. Social Enterprise has to meet IT and social media revolution Global Trends - Public service delivery by charities already with New Labour Purists look for incremental benefits under a new tag (Social Business Initiative ) The Innovators see the SBI as the third way between competitiveness and social inclusion policies The UK as a global hub New legal form: CIC SEC, Unltd, SEL, BC program etc. New support agencies: SIB, Social Finance, Venturesome etc. Social investments: Skoll Foundation at Saïd Business School, School of Social Entrepreneurs etc. Academic: Guardian Social Enterprise Network etc. Media What's your business model? What's your plan to increase impact? How do you generate income? My questions to you How would you scale up/out - (replicate etc.) Open Hardware
Makers Movement 2008: President Barroso hosts first workshop on Social Innovation 2010: Social Innovation Europe launched: platform for knowledge-sharing and connecting practitioners, part of EU innovation strategy www.socialinnovationeurope.eu 2011: The Social Business Initiative is included in the single market act 2012 Commissioner Barnier sets up GECES (Groupe d'Experts de la Commission sur l'entrepreneuriat social) Legal definition vs. realising social impact Social impact measurement Return on investment: non-profit vs profit re-distribution