Sharesource is a social enterprise - however what does this actually mean? And even more so, how does it benefit business and why does any of this matter? Let’s start with Wikipedia’s definition:- a social enterprise is an organization that applies commercial strategies to maximize improvements in financial, social and environmental well-being. What differentiates social enterprises from other companies is that they have both business goals and social goals. Their main purpose is to promote, encourage, and make social change - in a financially sustainable way.
Contrary to popular belief, there does not have to be a trade-off between making a social impact and bottom-line profits and investment returns. Companies with short and long-term success in mind are transforming the way they do business to embed purpose at their core. They’re building bottom-line benefits whilst still making a positive impact on society. Purpose should not be about a quick marketing tactic or campaign, or a moment-in-time effort - it should be deeply embedded into brand identity and the experience companies deliver.
Here’s a quick look at Five Key Business Advantages to being a social enterprise:-
Increasingly investors, business partners, customers, and employees want to know that the companies they choose are doing more than just providing a product or service. They look for companies that are doing good. They will feel a special connection to companies whose values align with their own. So, in summary, social enterprises positively affect both internal (employee engagement, productivity, creativity, and retention rate) and external (increased sales, customer loyalty, brand awareness) growth. What’s not to like?
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