What Is a Social Entrepreneur? A social entrepreneur is a person who pursues novel applications that have the potential to solve community-based problems. These individuals are willing to take on the risk and effort to create positive changes in society through their initiatives. Social entrepreneurs may believe that this practice is a way to connect you
What Is Social Identity? Social identity is an organization or company’s image as derived from its relationships with its customers, suppliers, shareholders, and other stakeholders. An organization’s social identity thus comes from the groups that the organization belongs to or is affiliated with, the way it is structured, the industry it belongs to, and other
What Is a Social Impact Bond (SIB)? A social impact bond (SIB) is a contract with the public sector or governing authority, whereby it pays for better social outcomes in certain areas and passes on part of the savings achieved to investors. A social impact bond is not a bond, per se, since repayment and
What Is a Social Impact Statement? A social impact statement—also known as corporate social responsibility (CSR) statement—is a report or press release issued by a company that outlines the steps it has taken to improve the social and environmental standards of its business operations. Many companies will issue these statements once per year, releasing them
What Is Socialism? Socialism is a populist economic and political system based on collective, common, or public ownership of the means of production. Those means of production include the machinery, tools, and factories used to produce goods that aim to directly satisfy human needs. In contrast to capitalism, whereby business owners control the means of
What Is Social Justice? Social justice refers to a fair and equitable division of resources, opportunities, and privileges in society. Originally a religious concept, it has come to be conceptualized more loosely as the just organization of social institutions that deliver access to economic benefits. It is sometimes referred to as “distributive justice.” Social justice
With over 80% of consumers reporting that social media—especially influencer content—significantly impacts buying decisions, marketers across industries are driving the evolution of social media marketing (SMM) from a stand-alone tool to a multipronged source of marketing intelligence on an increasingly important—and growing—audience. Within 18 years, from 2004 (when MySpace became the first social media site
What Is Social Networking? The term social networking refers to the use of internet-based social media sites to stay connected with friends, family, colleagues, or customers. Social networking can have a social purpose, a business purpose, or both, through sites like Facebook, Twitter, Instagram, and Pinterest. Social networking is also a significant opportunity for marketers
What Is Social Responsibility? Social responsibility means that businesses, in addition to maximizing shareholder value, must act in a manner benefiting society, not just the bottom line. Social responsibility has become increasingly important to investors and consumers who seek investments that not only are profitable but also contribute to the welfare of society and the
What Is Social Science? Social science is the study of how people interact with one another. The branches of social science include anthropology, economics, political science, psychology, and sociology. Social scientists study how societies work, exploring everything from the triggers of economic growth and the causes of unemployment to what makes people happy. Their findings
