Hi Carol,
I find your definition and understanding of a social entrepreneur accurate. Apart from solving community-based issues, social entrepreneurs also develop solutions to environmental and cultural problems to accompany their profit-making purpose (Chell et al., 2016). They can be both profit and non-profit businesses whose business impacts the community directly. It is indeed true that unlike social entrepreneurs, traditional marketing only aims at making a profit. However, you have not mentioned something about social value creation and commercial value creation. Which business between the two deals with the creation of social value and which one deals with the creation of commercial value?
I agree with you that a franchise is usually a business established through the selling of a business logo, rights and products to a franchisee for sell. The franchisee typically purchases into a system under which operations, product procurement, as well as marketing, have been worked out. Lack of autonomy is, however, the most significant disadvantage of a franchise (Anyushenkova & Imanshapieva, 2019). Do you find a franchise to be better than an independent business? If yes, what are your reasons?
References
Anyushenkova, O. N., & Imanshapieva, A. G. (2019). FRANCHISING: PROS AND CONS. Наука и образование: новое время, (1), 184-187
Chell, E., Spence, L. J., Perrini, F., & Harris, J. D. (2016). Social entrepreneurship and business ethics: Does social equal ethical?. Journal of business ethics, 133(4), 619-625.
Hello Malisa,
A social enterprise indeed encompasses sustainable social objective as well as a profit. Some of these social objectives include the implementation, funding and finding solutions to situations in the community that puts specific individuals at a disadvantage to help them but at the same time profiting from them. Capitalism and the mentality to do good are the bases of this form of business (Bankvall, Dubois & Lind, 2017). However, in a traditional business, profit is the ultimate goal and does not consider solving community-based issues. Which one do you find interesting between the two business forms?
Franchising involves the licensing between two companies to sell a particular product under a common brand name. An independent business consists of the conduction of business as a separate figure (Bastié, Cussy & Le Nadant, 2016). In what ways does a franchise support the innovation of service and resale value? Is there a way one can make adjustments in the start-up cost for this kind of business?
References
Bankvall, L., Dubois, A., & Lind, F. (2017). Conceptualizing business models in industrial networks. Industrial Marketing Management, 60, 196-203.
Bastié, F., Cussy, P., & Le Nadant, A. L. (2016). Network or Independent Business? Entrepreneurs’ Human, Social and Financial Capital as Determinants of Mode of Entry. Managerial and Decision Economics, 37(3), 167-181.