Scaling Social Enterprises through Product Diversification

Scaling has remained a challenge for social enterprises, which strive to balance social impact with financial performance to facilitate sustainable development. Product diversification, a common scaling strategy in commercial enterprises, has been recently proposed as a strategy to scale social ente...

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Autores principales:	Srivardhini K. Jha, Nachiket Bhawe, P. Satish
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	scaling social enterprises microfinance product diversification strategies Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/1a8e5be68559493f9c815616e1506cc1
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id	oai:doaj.org-article:1a8e5be68559493f9c815616e1506cc1
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spelling	oai:doaj.org-article:1a8e5be68559493f9c815616e1506cc12021-11-11T19:24:14ZScaling Social Enterprises through Product Diversification10.3390/su1321116602071-1050https://doaj.org/article/1a8e5be68559493f9c815616e1506cc12021-10-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/11660https://doaj.org/toc/2071-1050Scaling has remained a challenge for social enterprises, which strive to balance social impact with financial performance to facilitate sustainable development. Product diversification, a common scaling strategy in commercial enterprises, has been recently proposed as a strategy to scale social enterprises while keeping their dual goals in balance. We empirically investigate this using a combination of qualitative and quantitative analyses of microfinance institutions in India. Our inductive analysis reveals that product diversification in social enterprises varies along two dimensions—relatedness and locus of impact—to give four distinct diversification strategies. Each of these strategies impacts the social and financial goals of the organization differently. To scale successfully, social enterprises need to deploy a deliberate and dynamic mix of product diversification strategies. The paper makes an important contribution to the field of social entrepreneurship by exploring how diversification strategy can help social enterprises scale. It also provides important insights to social entrepreneurs on how they should deploy a mix of diversification strategies to maintain a balance between their social and financial goals.Srivardhini K. JhaNachiket BhaweP. SatishMDPI AGarticlescalingsocial enterprisesmicrofinanceproduct diversification strategiesEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 11660, p 11660 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	scaling social enterprises microfinance product diversification strategies Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	scaling social enterprises microfinance product diversification strategies Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Srivardhini K. Jha Nachiket Bhawe P. Satish Scaling Social Enterprises through Product Diversification
description	Scaling has remained a challenge for social enterprises, which strive to balance social impact with financial performance to facilitate sustainable development. Product diversification, a common scaling strategy in commercial enterprises, has been recently proposed as a strategy to scale social enterprises while keeping their dual goals in balance. We empirically investigate this using a combination of qualitative and quantitative analyses of microfinance institutions in India. Our inductive analysis reveals that product diversification in social enterprises varies along two dimensions—relatedness and locus of impact—to give four distinct diversification strategies. Each of these strategies impacts the social and financial goals of the organization differently. To scale successfully, social enterprises need to deploy a deliberate and dynamic mix of product diversification strategies. The paper makes an important contribution to the field of social entrepreneurship by exploring how diversification strategy can help social enterprises scale. It also provides important insights to social entrepreneurs on how they should deploy a mix of diversification strategies to maintain a balance between their social and financial goals.
format	article
author	Srivardhini K. Jha Nachiket Bhawe P. Satish
author_facet	Srivardhini K. Jha Nachiket Bhawe P. Satish
author_sort	Srivardhini K. Jha
title	Scaling Social Enterprises through Product Diversification
title_short	Scaling Social Enterprises through Product Diversification
title_full	Scaling Social Enterprises through Product Diversification
title_fullStr	Scaling Social Enterprises through Product Diversification
title_full_unstemmed	Scaling Social Enterprises through Product Diversification
title_sort	scaling social enterprises through product diversification
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/1a8e5be68559493f9c815616e1506cc1
work_keys_str_mv	AT srivardhinikjha scalingsocialenterprisesthroughproductdiversification AT nachiketbhawe scalingsocialenterprisesthroughproductdiversification AT psatish scalingsocialenterprisesthroughproductdiversification
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Scaling Social Enterprises through Product Diversification

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