Blended value

Abstract: This paper presents an exploratory analysis of the emergent reporting practices used by social entrepreneurs in terms of their institutional settings and strategic objectives. These reporting practices not only account for financial performance but also disclose more nuanced and contingent social and environmental impacts and outcomes. Furthermore, they act as symbolic objects expressing the market orientation of many socially entrepreneurial organizations in that they aim to provide more complete and transparent disclosure of a variety of performance impacts. Conceptually, this paper draws upon approaches developed within the sociology of accounting as institutional practice and uses three theoretical interpretations to conceptualize the function and effects of reporting, disclosure, and audit in social entrepreneurship: positivist; critical theorist; and interpretative. A discussion of five case studies leads to the development of a new theoretical construct - 'Blended Value Accounting' - that constitutes a spectrum of disclosure logics used by social entrepreneurs to access resources and realize organizational mission objectives with key stakeholders. Conclusions consider some further questions around socially entrepreneurial reporting practices and strategies and suggest some new lines of research going forward.

Abstract: There is a need to rethink and redefine the social value added of entrepreneurial activities to society. In this paper we develop five pillars on which the evolving social role of entrepreneurship can rest and have its impact: (1) connecting entrepreneurial activities to other societal efforts aimed at improving the quality of life, achieving progress, and enriching human existence, (2) identifying ways to reduce the dysfunctional effects of entrepreneurial activities on stakeholders, (3) redefining the scope of entrepreneurial activities as a scholarly arena, (4) recognizing entrepreneurship's social multiplier, and (5) pursuing blended value at the organizational level, centring on balancing the creation of financial, social and environmental wealth. In a final section we discuss implications for practices and for further research.

Abstract: In this paper the author contrasts 'green businesses' with 'green-green businesses'. The ideal type of 'ecopreneur' is defined as one who creates green-green businesses in order to radically transform the economic sector in which he or she operates. Similarly, ecopreneurship is seen as an existential form of business behaviour committed to sustainability. Some 'ideal-type' illustrations of ecopreneurship are given, including recent examples, having in common an accidental evolution into ecopreneurship that then becomes transformative for self, society and economic sector. The author provides some practical suggestions for businesspeople who want to try an ecopreneurial strategy in the private sector, including: green brainstorming; cost reduction; the stimulation of innovation through green design and networking; and the attraction of interest of overwhelmed consumers in an emerging 'attention economy' through green marketing and through green start-ups ('green-green businesses'). He suggests that, to promote ecopreneurship, governments and public officials can: run competitions for the most imaginative green business plans; change tax regimes to promote resource conservation; build ecopreneurship into standards for public-sector managers to meet; and target the creation of high-technology development centres to build serial ecopreneurship and to attract 'blended value' venture capital. (Publication abstract)