Designing Social Value Architecture for the For-Profit Company
Canadian Review of Social Policy, Vol. 67, p. 85, 2012
Posted: 4 Nov 2012 Last revised: 9 Nov 2012
Date Written: November 4, 2012
How do for-profit companies govern themselves in the act of social value creation when there are no existing policies in place? This article offers three initiatives as a starting point for Canadian social entrepreneurs who are eager to use the engine of a for-profit business to market their goods and services and consider the contribution of social value essential to their companies’ success. The three initiatives provide the foundations for basic, yet fundamental, architecture for interested companies. In addition to providing practical information for social entrepreneurs, these initiatives highlight a gap in Canadian policy. The emergence of hybrid corporate governance models on the international stage suggests a unique sector of the social economy is beginning to form. It is critical that Canadian federal and provincial governments address growing demands by establishing policies to govern businesses in the dual mission of profit and social value creation.
Keywords: corporate law, corporate governance, for-profit corporation, dual mission, social value, social policy, social economy
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