Social enterprise in Lebanon : the way forward a strategic roadmap for striking the balance between purpose and profit

Abstract

Social entrepreneurship (SE) is a growing phenomenon on a global scale. The recession, the political revolutions, globalization of information and access, among many other socio-economic factors are playing a significant role in shifting the strictly corporate dynamic of the business world into one that is more in tune with humanitarian and environmental progress. People are also demanding more from the private sector. Social enterprises have ascended as a response to this call; one that has received wide acclaim for its ability to actuate sustainable social and financial impact. While much more breadth in the conceptualization of social entrepreneurship exists in the literature coming from the developed world today, the growth in interest and practice of SE in emerging markets in the Middle East, and more specifically in Lebanon is on the rise, mainly due to the opportunities it presents for solving the salient and mounting social, political and environmental pressures that are stifling economic development. Businesses in Lebanon and the region are also increasingly integrating sustainable platforms for social and environmental impact into their corporate strategies, in an effort to meet the many demands of the underprivileged communities that plague their environments, while also attempting to maintain a competitive edge, in light of the rise and relevance of Corporate Social Responsibility. While SE is rapidly gaining traction in the region, a framework for establishing a common understanding of these enterprises, specifically based on the extent of their success in creating sustainable social and financial returns have yet to be solidified. If levels of success in social enterprises are not achieved, then their role as change agents in the sphere of economic development becomes compromised. This project is practical in nature, using established literature on social enterprises to identify the factors that lead to success in the SE, in terms of social impact, sustainability and scale. Using this data, the