As charities increasingly look to other revenue streams to stay afloat, a guidebook is aiming to help not-for-profit leaders navigate the world of social enterprise.
Published in partnership with Wayside Chapel, University of Technology Sydney (UTS) researchers said despite information emerging to help for-profit business focus on social purpose, the same hadn’t been done for for-purpose organisations.
“Research is emerging globally on how to navigate such challenges, but this is mainly from the perspective of for-profit firms, and yet many social enterprises are emerging from the non-profit and community sector,” UTS Associate Professor Danielle Logue said.
The dual purpose businesses are referred to as “hybrid enterprises” because they blur the divide between for-profit and not for profit, and have multiple purposes, which researchers said could create management and organisational challenges.
The guidebook covers the challenges of managing organisational identity, knowing when the business was drifting from mission, considering staff capabilities across both social and business fields, and understanding tensions between social and financial goals.
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