Running a social business
Social Businesses each have their own character but they all need consistent attention to similar key areas.
Each will be providing goods and/or services and success or failure of the business will depend on the effectiveness of running the business.
To ensure that these goods and services are provided to the right market, at the right price and to a good standard requires business functions such as Human Resources, Marketing, Financial Control and Quality Systems to be working together through sound Business Management.
For more information visit our Social Business Management Zone.
The business in turn is owned by a legal entity. Those responsible for this business entity must provide effective guidance and control through good governance to ensure that legal reporting requirements to regulators is met, that it adopts and applies an appropriate set of policies and that it continues to work to achieve its Social Mission. It achieves this through good business governance.
For more information visit our Social Business Governance Zone.
In addition to financial control and reporting, a Social Business will wish to report its achievements or social outcomes to its Stakeholders, funding partners and the public through some form of social accounting and reporting.
For more information visit our Social Accounting Zone.