Islamic Social Funds to Foster Yunusian Social Business and Conventional Social Enterprises

This paper proposes an integrated, comprehensive financial model that can provide startup capital to socially committed business ventures, such as social enterprises and Yunus Social Business (YSB), by using Islamic social funds (ISFs), Zakat (almsgiving), Waqf (endowments), Sadaqat (charity), and Qard Hasan (interest-free benevolent loans). The literature review method was adopted to explain this model's architecture, applications, implications, and viability. On the basis of logical reasoning, it concludes that ISFs can yield greater social wellbeing if utilised in SEs and YSB than in unconditional charity because both business models work for social betterment in entrepreneurial ways while remaining operationally self-reliant and economically sustainable. Additionally, ISFs can complement Yunus Social Business's zero-return investment approach to make it more robust towards social contributions. The implementation of the model orchestrated in this paper would enhance societal business practices and, hence, scale up social wellbeing while helping rejuvenate pandemic-stricken economies. It paves the way for new research too. © 2023 by the authors.

Reshaping street and home-based cottage food business strategies through social business after COVID-19 pandemic

This impact-driven research investigated how food design, technology, and business strategy can solve social problems as part of a social business initiative. A total of 20 street food vendors and home-based food entrepreneurs were selected, and group-focused discussions were conducted based on the study's purpose. They were assessed and advised through the Mystic Kitchen model and social business concept to make their operations more productive and increase sales to cope with lifestyle changes due to the pandemic. The study found that the primary elements in successful business strategies through social business are communication, trust, resource allocation, and matching technology tools.

The Impact of the COVID-19 Pandemic on the Propensity of Emerging Entrepreneurs to Start Social Enterprises in Romania

As the COVID-19 pandemic evolves, and hopefully draws to an end, potential entrepreneurs are challenged to reimagine the new normal and develop new models of doing business with a focus on sustainable development, protecting the environment and the public good. Our paper aims to explore if emerging entrepreneurs have been influenced by the pandemic and are considering to conduct business with a social impact, given that values and attitudes about priorities have changed during the pandemic. Based on a questionnaire completed by 286 students at both the bachelor and masters level at the Faculty of Business and Administration of the University of Bucharest in November 2021, we will explore to what extent future entrepreneurs are considering starting a social enterprise. Using descriptive statistics and comparative analysis, we will determine if there has been a change in propensity for social entrepreneurship among students of economics before and since the start of the corona pandemic. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Understanding the Function of a Social Business Ecosystem

Social entrepreneurs face challenging situations in trying to expand and grow businesses with little investment and limited resources. Interactions and networks between social entrepreneurs, investors, and other stakeholders are indispensable in promoting social entrepreneurship. Together, they come to form a cyclical “social business ecosystem” (SBE), in which social entrepreneurs can finance their projects by paying “share transfer fees.” By using a theoretical/mathematical model in our method, this study examines the fundamental role of share transfer fees in an SBE. In particular, it establishes a moral hazard model that can explain important characteristics of an SBE. As main results, the study identifies conditions under which an SBE can mitigate the moral hazard of social entrepreneurs. The results suggest that SBEs work efficiently for relatively small social projects. This is consistent with actual cases of social business. Within this framework, this study also explores the practical implications of knowledge spillover;social entrepreneurs conduct SBEs more efficiently if they take advantage of knowledge spillover.

WHAT SITUATIONS CAUSE CRUCIAL FINANCIAL DECISIONS WITHIN SOCIAL BUSINESSES?

The growing uncertainty in today's business environment has a significant influence on social business's behaviour. Those enterprises could rely on public support in the past, but nowadays, they have to find a way to be more responsible about their social activity and be financially independent on public resources. Based on this theoretical background, the paper's main goal was to find a set of factors that influence crucial financial decisions within a crisis. When social businesses create an optimal financial portfolio to be financially sustainable, primary research was conducted. A sample of 57 social businesses was asked about their financial strategy. The main research goal was to compare a change before and after the first wave of the Covid-19 pandemic situation in 2020. This case has shown current financial thinking and preparedness for unusual or crises. A mixed research approach was chosen due to a limited number of respondents. The overall results found that those businesses prefer to use the current strategy (42%) in crisis, and they limit investments to survive in that situation, except marketing investments (16%). Implications for Central European audience: At the theoretical level, our study shows social enterprise concepts in the Central European context, which differs somewhat from the already established definition of mainly Anglo-Saxon and American authors. At the same time, it combines knowledge about the use of financial planning in this segment. The study results show that financial planning is essential in these companies because it can achieve social goals. A discussion would be opened on how to raise awareness of the preparation of the strategy. Alternatively, how to strengthen the financial literacy of managers or representatives of these entities. © 2022. All Rights Reserved.

When technology leads social business: Food truck innovation.

As restaurants and other non-essential businesses shut down to halt the spread of COVID-19, food-trucks adapted their business model, taking advantage of lower overheads and the ability to be mobile, to provide a response to the spike in demand for ready-made food. Set in France, this study identifies how food-trucks harnessed technology to support sustainable social business. We use triangulation to collect and analyse data from consumers and food-truck owners/managers on their perceptions of the value proposition and its limitations. Framed by the lockdown, we unpack the challenges faced by society and investigate ways in which food-trucks provide a sustainable alternative for eating out. We contribute to theory on social business and social innovation by acknowledging the socio-technical synergy existing in the specific context of food-trucks. The study acknowledges social equation as a key success element and validates the principles of social business in a new context.