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How to Become a For Profit Social Enterprise

 

December 19, 2009

FreeBalance, a For Profit Social Enterprise (FOPSE) software company that helps governments around the world to leverage robust Government Resource Planning (GRP) technology to accelerate country growth, today announced the launch of a whitepaper titled “How to become a For Profit Social Enterprise (FOPSE)”. The whitepaper provides the business and ethic case for making Corporate Social Responsibility (CSR) core to company strategy.

The genesis for the FreeBalance paper was a series of oversubscribed articles from the FreeBalance Sustainability Blog. The FreeBalance Sustainability Blog, articles received substantial interest and attention from social enterprises and the broader public financial management community. The FreeBalance whitepaper outlines the FOPSE business model and identifies the critical factors to transform an existing enterprise to a FOPSE. Companies who become FOPSE commit to CSR as core to their business models.

“Building socially conscious organizations is a business imperative with global consequences. This type of social entrepreneurship amplifies the impact of corporate social responsibility,” said Manuel Pietra, President & CEO of FreeBalance. “FreeBalance is dedicated to helping governments around the world accelerate country growth with sustainable GRP technology. Good governance and achieving development goals directly impacts local economies and the lives of each citizen. Social responsibility is integral to what we do. That’s why we operate with a customer-centric approach.”

FreeBalance has successfully transitioned to a FOPSE by directly impacting the civil service and citizens in customer countries. FreeBalance GRP solutions are now used by 25,000 civil servants in Canada and 35,000 civil servants internationally. FreeBalance software solutions are being used to manage a global workforce of nearly 1.5 million civil servants and a quarter trillion dollars in annual budgets worldwide. The FreeBalance Accountability Suite has now been implemented in 18 countries across 15 different time zones and in more than 200 government entities at the national and sub-national level.

FreeBalance contributes to customer country economies by forming local partnerships and hiring citizens ensure independently sustainable implementations. FreeBalance GRP technology accelerates country growth and helps improve governance, demonstrate accountability in public finance and bolster citizen confidence through transparency. Public financial management reform is a key element of good governance and sustainable development. FreeBalance is also committed to supporting children’s programs in the developing world. FreeBalance has established partnerships with organizations such as SOS Children’s Villages to directly impact the lives of thousands of children. FreeBalance recently had a unique opportunity to make a difference in the lives of 1,283 school children in Timor-Leste.Under the leadership of Manuel Pietra, President & CEO of FreeBalance, the company delivered 1,283 packages of school supplies to the Escola Primária de Fatuada in Dili.

FOPSE embodies the FreeBalance commitment to international development, active participation in the global community, and social responsibility. There has been a major shift in business thinking over the past decade. Today’s businesses have a global impact and should be stewards of social responsibility in the countries where they conduct business. CSR is at the forefront of the minds of executives, entrepreneurs, professors and students. Diana Middleton of The Wall Street Journal published a comprehensive account on grassroots social conscience mandates of future executives around the world in an article titled “M.B.A.s Seek Social Change.”Harvard professor Daniel J. Isenberg recently published a critical study which defines how FOPSE extends CSR to the core of the enterprise and distinguishes FOPSE from traditional for-profit company programs.

FreeBalance has embraced FOPSE and published this whitepaper to encourage entrepreneurs to consider this approach.

FreeBalance_FOPSE_2009

About FreeBalance
Founded in 1984, FreeBalance is a For Profit Social Enterprise (FOPSE) software company that helps governments around the world to leverage robust Government Resource Planning (GRP) technology to accelerate country growth. Proven FreeBalance GRP products and focused methodology supports financial reform and modernization to improve governance, transparency and accountability. Good governance is required to improve development results.

FreeBalance is headquartered in Ottawa, Canada, with sales and support offices in Washington, DC (United States), Lima (Peru), Lisbon (Portugal), London (Great Britain), Pristina (Kosovo) and St. John (Antigua and Barbuda). FreeBalance solutions have been implemented in countries across the globe, including Canada, United States, Sierra Leone, Guyana, Pakistan, Mongolia, Afghanistan, Antigua & Barbuda, Timor-Leste, Republic of Kosovo and Panama.

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Doug Hadden

Doug Hadden

Executive Vice President, Innovation at FreeBalance
Doug is responsible for identifying new global markets, new technologies and trends, and new and enhanced internal processes. Doug leads a cross-functional international team that is responsible for developing product prototypes and innovative go-to-market strategies.

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