TY - JOUR
T1 - Enhancing the competitiveness and sustainability of social enterprises in Hong Kong
T2 - A three-dimensional analysis
AU - Leung, Sidney
AU - Mo, Phyllis
AU - Ling, Howard
AU - Chandra, Yanto
AU - Ho, So Sum
N1 - Funding Information:
The work described in this paper was fully supported by a grant from UGC Knowledge Transfer Earmarked Fund.
Funding Information:
The work described in this paper was fully supported by a grant from UGC Knowledge Transfer Earmarked Fund.
Publisher Copyright:
© 2019 Sun Yat-sen University
PY - 2019/6
Y1 - 2019/6
N2 - Running a social enterprise (SE)is more difficult than running a small or medium-sized enterprise because SEs have to achieve both economic sustainability as business enterprises and their social mission for the benefit of society. After a few years of operation, many SEs fail or struggle for survival. In this study, we examine some of the factors that affect an SE's profitability, financial management, and business planning and management. Based on in-depth interviews with 22 social enterprises in Hong Kong, we find that SEs with the dual investment objectives of social mission and financial return are more sustainable and competitive than SEs with social impact as their sole objective. Furthermore, SEs managed by non-owner managers have better financial planning and performance than those managed by owner managers. In addition, SEs with an oversight/advisory committee are more competitive and have better management practices than those without such a committee. Our findings have policy implications for government, SEs, funding bodies, and non-profit organizations to enhance and promote the development of the social enterprise sector.
AB - Running a social enterprise (SE)is more difficult than running a small or medium-sized enterprise because SEs have to achieve both economic sustainability as business enterprises and their social mission for the benefit of society. After a few years of operation, many SEs fail or struggle for survival. In this study, we examine some of the factors that affect an SE's profitability, financial management, and business planning and management. Based on in-depth interviews with 22 social enterprises in Hong Kong, we find that SEs with the dual investment objectives of social mission and financial return are more sustainable and competitive than SEs with social impact as their sole objective. Furthermore, SEs managed by non-owner managers have better financial planning and performance than those managed by owner managers. In addition, SEs with an oversight/advisory committee are more competitive and have better management practices than those without such a committee. Our findings have policy implications for government, SEs, funding bodies, and non-profit organizations to enhance and promote the development of the social enterprise sector.
KW - Advisory committee
KW - Corporate governance
KW - Social enterprise performance
KW - Social enterprises
KW - Social mission
KW - Sustainability
UR - http://www.scopus.com/inward/record.url?scp=85064824969&partnerID=8YFLogxK
U2 - 10.1016/j.cjar.2019.03.002
DO - 10.1016/j.cjar.2019.03.002
M3 - Journal article
AN - SCOPUS:85064824969
SN - 1755-3091
VL - 12
SP - 157
EP - 176
JO - China Journal of Accounting Research
JF - China Journal of Accounting Research
IS - 2
ER -