Social Enterprises

A mechanism for promoting Knowledge-Based Development (KBD) is through Social Enterprises (SEs). SE’s are organizations that lie between NGOs/charity organizations in one end, and for-profit business corporations in the other end:

CCLFI advocates KBD and SEs. CCLFI itself is not an NGO but more precisely an SE. We at CCLFI feel strongly that the wave of the future is towards enterprises that are “both for-society as well as for-profit.” Trace the evolution of our thinking and advocacy through the papers below.

Measuring performance of SEs. There are new and exciting developments towards a “social stock exchange” for market-based allocation of capital resources for SE’s as well as non-profit organizations. Accordingly, a new framework for measuring performance of SEs will be needed. In the 6th International Conference in KM, Dr. Serafin Talisayon (“Apin”) and Mr. Vincent Leung of Hong Kong proposed an expanded intellectual capital framework to evaluate SEs. While NGOs mainly use the “triple bottom line” (3BL) evaluation framework, business corporations mainly use the intellectual capital (IC) framework. Their paper (and PowerPoint presentation) points to the gaps within and between 3BL and IC, proposes an expanded framework that embraces both, and applies them to SEs in the Philippines and Hong Kong.

Limitations of the Intellectual Capital Framework for KBD. For knowledge-based development, the IC framework suffers limitations. Apin and Vincent wrote another paper to point this out and to propose a more appropriately expanded framework. The paper entitled “An Expanded Intellectual Capital Framework” will be published by the “Mission Intangibles” working group of the Associazione Italiana degli Analisti Finanziari (or AIAF, the Italian Association of Financial Analysts).

Towards Socially-Embedded Corporations. Because the survival of corporations is increasingly dependent on their stakeholder capital, corporations are feeling the pressure to improvise and innovate better ways to nurture and cultivate their stakeholder capital. Apin studied the evolution of how Philippine corporations do this in a paper he read at the Singapore Management University’s 5th International Research Workshop on Asian Business last April 13, 2009. The paper (and PowerPoint presentation) is entitled “Corporate Social Responsibility and Emergent Models in Management of Stakeholder Capital in Philippine Conglomerates.”

A Western Governance Gap. On the average, about 75% of market value of corporations was created by past and current employees (human and structural capital) and by customers (stakeholder capital), yet under the present Western system, ownership and control of corporations is exercised by stockholders who create only 25% of its value (and who are ready to unload their shares during financial crises)! Apin pointed out this “governance gap” and proposed a more stable and socially-responsible enterprise arrangement through employee co-ownership and consumer co-ownership, in a presentation entitled “Consumer and Employee Ownership Schemes” he made at the First Global Consumption Capital Summit in Beijing, China last December 19-20, 2009.

An Asian Enterprise Model? To address this Western governance gap, Prof. Chen Yu of the World New Economics Research Institute in Beijing, China and Dr. Serafin Talisayon (“Apin”) of CCLFI is co-authoring a paper on the merits of consumption capital and employee capital. Watch for it in the next few months!

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