October 19, 2009Doug Hadden
The October 15th. edition of the Wall Street Journal had an interesting article by Diana Middleton titled “M.BA.’s Seek Social Change“. Entrepreneurs are looking to start companies with a social conscience. These entrepreneurs are leveraging the for-profit rather than the non-profit model.
According to Ms. Middleton:
This type of social entrepreneurship – that is, building a for-profit company with a social conscious or linked with a social cause – is becoming increasingly attractive to would-be business founders. The idea is to make money while either directly impacting consumers with its services or funneling a portion of profits to charities. Often, these companies employ people or source resources from economically depressed areas of the world that then also benefit from the charitable donations from the profits.
There has been a major shift in business thinking over the past decades. Businesses have a global impact. Not all entrepreneurs are dedicated to becoming rich at all costs. It’s a far cry from the words of the fictional Gordon Gecko in the movie Wall Street: “Greed is good”.
FreeBalance is a For Profit Social Enterprise (FOPSE) that helps governments around the world to leverage Government Resource Planning (GRP) technology to accelerate country growth. We’re focused on solutions for Public Financial Management (PFM) that helps governments improve governance. We have a global model with local delivery – often defined as “Glocal.” We hire local experts for our software implementations.
We applaud this recognition in the business press about this for-profit alternative model for social causes. We have found that this model encourages innovation and efficiency.