Essay about Social Enterprises in China's Modern Society
April 30, 2015
Social Enterprises in China’s Modern Society
Introduction The concept of social enterprises has been in existence and well adapted around the world for several decades. However, it was not until 2004 that social enterprise theory finally made its debut introduction in China’s society (FYSE 4). Over the following years, social entrepreneurship has gradually made its presence more apparent via direct contribution to the social-economic issues that the rapid-growing country has been facing. China’s phenomenal economic growth in such a short period of time has raised great concerns over sustainability and economic disparities. While the growth of social …show more content…
The populating demand for social enterprises in the recent decades has been identified to associate with the changes in social dynamics in the business world. In addition to favorable financial returns on investment, stakeholders are now also interested in corporate social responsibility. These stakeholders include but not limited to investors, employees, customers, government agencies, and community special interest groups (Xu et. al 188). More than ever, social-economic issues, such as poverty, income disparities, social welfare, education quality, cultural preservation, greatly concern and become appealing to stakeholders. As the result, social enterprise was gradually emerging as a more comprehensive and impactful system comparing to corporate social responsibility by implementing strategic solutions that address both social and commercial demands.
Despite inheriting from both philanthropic and commercial approaches, social enterprises are mainly driven by mission values rather than profit-generating. Indeed, the Department of Trade describes a social enterprise