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The Rise of the Social Business in Emerging Economies: A New Paradigm of Development

Journal Article


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Abstract


  • Social business has emerged as a sustainable and innovative means to solve emerging social problems. Although it is gaining momentum, there is a paucity of studies on the drivers of social business models and its key success factors. Drawing on a systematic literature review and an in-depth analysis of 31 social businesses in Bangladesh, the study presents eight key drivers and four success factors for a sustainable social business model. The findings show eight key drivers for social business models including customer centricity, quality, social needs, latent demands, incidental gains, innovation through partnerships, inspirations from initiatives and collaborative eco-systems. The findings also report four critical success factors including social goals, collaboration, simplicity and start from home. Overall, this study discusses the scope of developing and sustaining social business models for empowerment, quality of life and economic growth in emerging economies.

Publication Date


  • 2019

Citation


  • Akter, S., Jamal, N., Ashraf, M., McCarthy, G. & Varsha, P. S. (2019). The Rise of the Social Business in Emerging Economies: A New Paradigm of Development. Journal of Social Entrepreneurship, Online First 1-18.

Scopus Eid


  • 2-s2.0-85071850719

Ro Full-text Url


  • https://ro.uow.edu.au/cgi/viewcontent.cgi?article=1613&context=gsbpapers

Ro Metadata Url


  • http://ro.uow.edu.au/gsbpapers/575

Has Global Citation Frequency


Number Of Pages


  • 17

Start Page


  • 1

End Page


  • 18

Volume


  • Online First

Place Of Publication


  • United Kingdom

Abstract


  • Social business has emerged as a sustainable and innovative means to solve emerging social problems. Although it is gaining momentum, there is a paucity of studies on the drivers of social business models and its key success factors. Drawing on a systematic literature review and an in-depth analysis of 31 social businesses in Bangladesh, the study presents eight key drivers and four success factors for a sustainable social business model. The findings show eight key drivers for social business models including customer centricity, quality, social needs, latent demands, incidental gains, innovation through partnerships, inspirations from initiatives and collaborative eco-systems. The findings also report four critical success factors including social goals, collaboration, simplicity and start from home. Overall, this study discusses the scope of developing and sustaining social business models for empowerment, quality of life and economic growth in emerging economies.

Publication Date


  • 2019

Citation


  • Akter, S., Jamal, N., Ashraf, M., McCarthy, G. & Varsha, P. S. (2019). The Rise of the Social Business in Emerging Economies: A New Paradigm of Development. Journal of Social Entrepreneurship, Online First 1-18.

Scopus Eid


  • 2-s2.0-85071850719

Ro Full-text Url


  • https://ro.uow.edu.au/cgi/viewcontent.cgi?article=1613&context=gsbpapers

Ro Metadata Url


  • http://ro.uow.edu.au/gsbpapers/575

Has Global Citation Frequency


Number Of Pages


  • 17

Start Page


  • 1

End Page


  • 18

Volume


  • Online First

Place Of Publication


  • United Kingdom