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65-459: The Future Awards Africa (previously known as The Future Awards ) are a set of awards given by The Future Project, a social enterprise communications firm affiliated to Red Africa . The awards are intended to celebrate young people between the ages of 18 and 31, who have made outstanding achievement in the year under consideration. Forbes has described the awards as "Nigeria’s most important awards for outstanding young Nigerians". The idea for

130-501: A charity organisation . They can also take more conventional structures. Social enterprises are dynamic, requiring adaptation to ensure they meet the needs of communities and individuals in an ever-changing world. Their shared common thread is that they all operate to achieve a balanced financial, social and environmental set of objectives. Worker- and employee-owned trading enterprises, co-operatives, and collectives. These vary from very large enterprises such as John Lewis Partnership in

195-492: A Nigerian civic participation platform and a voice for young people in politics. He resigned as the board chairman to steer the rebranding of the former Nigerian president, Muhammadu Buhari , optimising media engagement to change longstanding perceptions and sway the elections. A consequent success in Ghana helped the opposition candidate win the presidency on his third attempt, and Williams currently consults in other regions in

260-482: A business, a partnership for profit or non-profit , and may take the form (depending on in which country the entity exists and the legal forms available) of a co-operative , mutual organisation , a disregarded entity (a form of business classification for income tax purposes in the United States), a social business , a benefit corporation , a community interest company , a company limited by guarantee or

325-463: A long history around the world, though under different names and with different characteristics. The first description of a social enterprise as a democratically owned and run trading organisation that is financially independent, has social objectives and operates in an environmentally responsible way, was put forward by Freer Spreckley in the UK in 1978 and later written as a publication in 1981. One of

390-571: A national voice for the sector, the Alliance of Social Enterprise Networks Australia (ASENA). ASENA has provided a federal channel for advocacy, collaboration and resource sharing for the emergent community of networks. ASENA brings together representatives from the social enterprise networks in Australia: Social enterprise networks create a unique place to connect and grow the community of practitioners and enablers that are meeting at

455-753: A nonprofit legal form and are treated in academic literature on the subject as a branch or sub-set of nonprofit activity (especially when contrasted with Social Businesses). Social enterprises in the nonprofit form can earn income for their goods or services; they are typically regarded as non-profits that use business strategies to generate revenue to support their charitable missions. In recent years, many non-profits have chosen to take on social enterprise models as it has become increasingly difficult to obtain financing from outside sources. The social enterprise model offers non-profit organisations an alternative to relying on charitable donations. This may allow them to increase their funding and sustainability and assist them in

520-543: A profit motive. A fourth definition asserts that a social enterprise consists of a community of dedicated individuals that are continuously thinking about social impact and, as a result, employ business and management techniques to approach social causes. Social enterprises are not only a structural element of a non-profit. A large portion of social enterprises are non-profits; however, there are also for-profit social enterprises. Social enterprises are often regarded—erroneously—as nonprofit organisations, although many do take on

585-408: A result, they have to resort to other (non-financial) techniques to recruit employees. Many managers utilise the social component of the social enterprise's dual mission and purpose for this. Like social enterprise, social entrepreneurship has a variety of existing definitions. Currently, there is not a widely accepted standard definition for the term, and descriptions vary in level of detail. There

650-460: A social enterprise. Social enterprises have socially bound mission statements and operate with the goal of solving a social problem as a part of their mission. Social enterprise has emerged as a businesslike contrast to traditional nonprofit organisations. Social enterprise is going to continue its evolution away from forms that focus on broad frame-breaking and innovation to a narrower focus on market-based solutions and businesslike solutions to measure

715-617: A specific purpose and trade commercially. All operate to reinvest profits in the community. They have large memberships that are customers or supporters of the organisation's key purpose. There are village cooperatives in India and Pakistan that were established as far back as 1904. There are many NGOs and charities that operate commercial consulting and training enterprises or subsidiary trading enterprises, such as Oxfam International. The profits are used to provide salaries for people who provide free services to specific groups of people or to further

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780-440: Is a huge amount of variation in forms and activities. Corporate social responsibility (CSR) is a practise that businesses can use to be conscious of the social and environmental impacts of their activities. There are a variety of CSR markers, such as accountability and internal and external elements. Social enterprises place a lot of emphasis on external social responsibility as a result of their social objectives, so social impact

845-411: Is a significant contributor to the economy - from local manufacturing and agriculture, to hospitality and professional services - they are not only local enterprises serving local needs, nearly one-third trade internationally. Unlike traditional commercial businesses, Victorian social enterprises are intentionally labour-intensive, with the proportion of their labour force equating to approximately twice

910-427: Is an emphasis on change agents for social entrepreneurship, in contrast to the organisational focus of social enterprises. Social entrepreneurship usually takes place in the non-profit sector, with a focus on creating and implementing new solutions. Social impact and social enterprise are not the same. Social impact may refer to the overall effects of a business, but a business that has social impact may or may not be

975-467: Is built into the organisation. However, there has been debate on whether or not social enterprises place enough emphasis on internal CSR. Internal CSR includes human resources and capital management, health and safety standards, adaptation to innovation and change, and the quality of management within the organisation. Since a large majority of social enterprises do not have sufficient funding, they are unable to pay competitive wages to their employees, and as

1040-428: Is to promote, encourage, and make social change . Social enterprises are businesses created to further a social purpose in a financially sustainable way. Social enterprises can provide income generation opportunities that meet the basic needs of people who live in poverty. They are sustainable, and earned income from sales is reinvested in their mission. They do not depend on philanthropy and can sustain themselves over

1105-619: The Nigerian Television Authority (NTA) with advocacy for youth, and, eventually good governance. Described as "the man with the golden touch" by Ghanaian President Nana Akufo-Addo , he was profiled by Forbes as the man who helped elect a trifecta of presidents in Africa. Williams was born on 7 March 1986 "to a wealthy family, but when he was 10, his family lost everything they had, so he had to struggle." In his early teen years, Williams wanted to become an actor and

1170-456: The benefit corporation (B-Corp). L3C's main objective is to achieve socially beneficial goals. They are able to go about achieving these goals by employing the financial and flexible advantages of a limited liability company. States that have authorised the use of the L3C model have established three requirements: to operate for charitable or educational purposes, not the production of income, and not

1235-478: The social economy draws explicitly from the works of Robert Owen , Proudhon , and Karl Marx , with works by Bourdieu and Putnam informing the debate over social capital and its relationship to the competitive advantage of mutuals . This intellectual foundation, however, does not extend as strongly into the field of social entrepreneurship, where there is more influence from writings on liberalism and entrepreneurship by Joseph Schumpeter in conjunction with

1300-640: The triple bottom line were: Furthermore, it was intended as part of the original concept that social enterprises should plan, measure and report on financial performance, social-wealth creation, and environmental responsibility by the use of a social accounting and audit system. The organisational and legal principles embedded in social enterprises are believed to have come from non-profit organisations. Originally, non-profit organisations relied on governmental and public support, but more recently they have started to rely on profits from their own social change operations. The Social Enterprise Alliance (SEA) defines

1365-708: The 1850s in Germany and spread internationally. Cooperative banks have likewise been around since the 1870s, owned as a subsidiary of a membership co-operative. In recent times, microcredit organisations have sprung up in many developing countries to great effect. Local currency exchanges and social value exchanges are also being established. Many community organisations are registered social enterprises: community enterprises, housing co-operatives, community interest companies with asset locks, community centres, pubs and shops, associations, housing associations, and football clubs. These are membership organisations that usually exist for

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1430-736: The C4F Marketing awards in Davos. He writes a monthly column on brands and communication in The Guardian (Nigeria). Williams took part initialing massive collaboration art piece Remember To Rise . He gave a speech at the European Conservatives and Reformists (ECR) Africa Summit on Wednesday, 9 January 2019, at the European Parliament on democracy and good governance . He married Kehinde Daniels,

1495-615: The Co-operative Research Unit (CRU) at the Open University have also published research into social enterprise. The Skoll World Forum, organised jointly by Oxford and Duke universities, brings together researchers and practitioners from across the globe. The term 'social enterprise' has a mixed and contested heritage due to its philanthropic roots in the United States and cooperative roots in

1560-723: The Event of the Year award at the first The Nigerian Event Awards (TNEA), in May 2011. In February 2013, its founders, Chude Jideonwo and Adebola Williams , were both named in Forbes ' 30 Under 30: Africa's Best Young Entrepreneurs. Social enterprise Social enterprises have business , environmental and social goals. As a result, their social goals are embedded in their objective, which differentiates them from other organisations and companies . A social enterprise's main purpose

1625-552: The Grameen Bank, believes that a social enterprise should be modelled exclusively to achieve a social goal. Another view is that social enterprises should not be motivated by profit motives, but rather that profit motives should be secondary to the primary social goal. A second definition provided by The Social Enterprise Alliance (SEA) defines a social enterprise as an organisation that uses business methods to execute its social or environmental mission. According to this definition,

1690-669: The Institut Supérieur de Développement Local (ISDL), Senegal), Wendy Luhabe (author), Abiola Alabi (MD, MNet Africa), Tonye Cole (executive director, Sahara Group), Ndidi Nwuneli (founder, LEAP Africa), Mo Abudu (CEO, EbonyLife TV ), Gbenga Sesan (founder, Paradigm Initiative Nigeria), Eikem Nutifafa (founding partner, Oxford and Beaumont, Ghana), Chi-Chi Okonjo (publisher, Ventures Africa), Victoria Trabosh (founder, Ithafari Foundation), Taa Wongbe (managing partner The Khana Group), Ayo Ajayi (MD, PATH Global) and Jennah Scott (director, Liberia Philanthropy Secretariat, Office of

1755-780: The President). The awards are presented at a live televised ceremony that is also streamed on the internet, most commonly in February or March following the relevant calendar year, and six weeks after the announcement of the final shortlist of nominees. Winners of the Young Person of the Year award include Tanzanian entrepreneur Ashish Thakkar , malaria scientist Ify Aniebo, writer Chimamanda Adichie , NASA scholar Tosin Otitoju, and agriculture entrepreneur and advocate Nnaemekan Ikegwuonu. The awards have drawn criticism regarding

1820-733: The UK and the Mondragon Corporation in Spain to medium-sized enterprises owned by their staff with traditional management hierarchies and pay differentials to quite small worker cooperatives with only a few directors and employees who work in less hierarchical ways and practice wage parity. Within the trading enterprises, there are employee-owned enterprises and membership-owned enterprises. Savings and loan organisations such as credit unions , microcredit organisations, cooperative banks , and revolving loan funds are membership-owned social enterprises. Credit unions were first established in

1885-637: The United Kingdom, European Union, and Asia. In the US, the term is associated with 'doing charity by doing trade', rather than 'doing charity while doing trade'. In other countries, there is a much stronger emphasis on community organising , democratic control of capital, and mutual principles than on philanthropy. In recent years, there has been a rise in the concept of social purpose businesses, which pursue social responsibility directly or raise funds for charitable purposes. Muhammad Yunus, founder of

1950-495: The Victorian Government has commissioned further research and digital platforms to support the collection and sharing of social enterprise research and knowledge. The Social Entrepreneur Evidence Space (SEES) is an open research platform for Australia's social enterprise community. Social enterprise practitioners have formed professional networks in each State and Territory of Australia. In 2020, they joined to form

2015-758: The Young Person of the Year category. Nomination results are usually announced to the public in late January. There is a four-stage, three-month-long judging process involving a board of judges and an audit committee. Judges come from all over Africa. The judges include Mfonobong Nsehe, Belinda Otas (assistant editor, New African Woman ), Brenda Wendo (deputy features editor, The Star newspaper, Kenya), Billie Adwoa McTernan (Ghana correspondent, The Africa Report ), Adam Bouhadma (editor, 9rayti.com, Morocco), and Michelle Atagana (managing editor, Memeburn ). The audit committee includes Katja Schiller Nwator (Leadership Development and CSR Manager, The Tony Elumelu Foundation ), Mahamadou Sy (founder and executive director of

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2080-581: The age or the substance of the achievement of the nominees. In 2009, an email exchange between a dancer and a former winner of the award, Qudus Onikeku and Chude, leaked on the Sahara Reporters website, as the former sought to clarify comments he had made about the Young Person of the Year Award given to D'banj , in the year after his win, against the backdrop of the musician's controversial video for "Suddenly". The Future Awards Africa won

2145-510: The ages of the nominees. In December 2011, Chude Jideonwo said: "We certainly have had more than a few complaints about the ages of one or two nominees... Over the years we have had to withdraw the nominations of a few nominees who have been unable to prove their actual ages..." The awards have a two-week complaint period, within which the public can email complaints about any nominee to the Central Working Committee about

2210-720: The awards was conceived by Chude Jideonwo , Adebola Williams , and Emilia Asim-Ita in 2005. The Future Awards Africa's first event was on 6 February 2006, at Magnolia Hall, City Mall, Lagos . The venue for the 2011 event was the Landmark Events Centre, Victoria Island , Lagos. Since 2012, it has been held at the Altec Azcum in Port Harcourt , Rivers State . The 2013 edition was hosted by on-air personality Toke Makinwa and rapper Vector . The awards are given to winners in diverse categories, including

2275-594: The collaborative ingenuity of social enterprise networks. Adebola Williams Adebola Williams (born 1986) is a Nigerian media entrepreneur, journalist, political consultant, and motivational speaker. He was the Group CEO of RED | For Africa. He passed the leadership baton to Ayodeji Razaq in 2022. He co-founded and ran Red Africa , Africa's largest portfolio of youth media brands which include Red Media Africa, Statecraft Inc., The Future Awards Africa, and YNaija. His career in media and television began at

2340-519: The continent. His 2017 cross-continental speaking tour included several conferences at ivy league schools Harvard, Columbia, and Oxford. He gave a speech at the 2017 Obama summit in Chicago. His work in corporate marketing and communication in different decrypts from oil and gas to banking, technology to fast-moving consumer goods has earned him and Red Media Africa several awards on the continent from SABRE Lapriga, Marketing Edge, Young Cannes and

2405-465: The culture and lore of Australia's first peoples, which have been practised for over 60,000 years. Similarly, social enterprise practises were common in the establishment of Australia's immigrant populations. Australia's suburban landscape is marked by clubs and associations that operate hospitality, learning, or community-oriented enterprises together with inclusive and culturally strengthening employment practises. The forms social enterprises can take and

2470-495: The development of the social entrepreneurship field through project initiatives and publications. As of 2018 the field of social enterprise studies has not yet developed firm philosophical foundations, but its advocates and its academic community are much more engaged with critical pedagogies (e.g. Paulo Freire ) and critical traditions in research (e.g. critical theory / institutional theory / Marxism ) in comparison to private-sector business education. Teaching related to

2535-562: The emerging fields of social innovation , actor-network theory , and complexity theory to explain its processes. Social enterprise (unlike private enterprise) is not taught exclusively in a business school context, as it is increasingly connected to the health sector and to public service delivery. However, Oxford University's Said Business School does host the Skoll World Forum , a global event focused on social entrepreneurs . The first international social enterprise journal

2600-456: The enterprise more financially valuable. These are organisations that might be more properly said to be operating corporate responsibility policies . Social enterprises differ in that their commitment to impact is central to the mission of the business. Some may not aim to offer any benefit to their investors, except where they believe that doing so will ultimately further their capacity to realise their social and environmental goals, although there

2665-476: The firm's goals. Some social enterprises have taken on same-sector and cross-sector partnerships, while others continue to operate independently. Tensions are separated into four distinct categories: performing, organizing, belonging, and learning. While the terminology of 'social enterprise' is new in Australia, the contemporary values, principles, and practises of social enterprise are strongly aligned with

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2730-488: The first examples of a social enterprise, in the form of a social cooperative, can be traced back to the Victorian era. Like social cooperatives, social enterprises are believed to have emerged as a result of state and market failure . However, market failure is emphasized in the UK, while state failure is emphasized in the United States. Muhammad Yunus ( Grameen Bank founder and 2006 Nobel Peace Prize laureate) used

2795-419: The following as reasons for this transition: Social enterprises are viewed to have been created as a result of the evolution of non-profits. This formation process resulted in a type of hybrid organisation that does not have concrete organisational boundaries. Various scholars (e.g. Eikenberry & Kluver, Liu & Ko, and Mullins et al.) have argued that this may have come about due to the marketization of

2860-460: The formation of the EMES network of social economy researchers who subsequently spread the language to the UK and the rest of Europe through influential English language publications. When social enterprise first emerged, much of the scholarly literature focused on defining the key characteristics and definitions of social enterprise. Currently, there is more literature and research on the emergence of

2925-467: The fulfilment of a political or legislative agenda. A benefit corporation , or B-Corp, is a corporation that operates to achieve or create a "general public benefit". The first academic paper to propose worker co-operatives involved in health and rehabilitation work as a form social enterprise was published in 1993. The scale and integration of co-operative development in the 'red belt' of Italy (some 7,000 worker, and 8,000 social co-operatives) inspired

2990-655: The individuals and communities social enterprises aim to benefit. This Finding Australia's Social Enterprise Sector (FASES) project produced its final report in June 2010. The project was led by Professor Jo Barraket, an Australian social enterprise academic. One of the key features of this Australian research is its intention to define social enterprise in a way that was informed by and made sense to those working in or with social enterprises. The research design therefore included workshops to explore and test what social enterprise managers, researchers, and relevant policymakers meant by

3055-615: The industries they operate in are so many and varied that it has always been a challenge to define, find, and count social enterprises. In 2009, Social Traders partnered with the Australian Centre for Philanthropy and Nonprofit Studies (ACPNS) at Queensland University of Technology to define social enterprise and, for the first time in Australia , to identify and map the social enterprise sector: its scope, its variety of forms, its reasons for trading, its financial dimensions, and

3120-451: The innovation that differentiates the social enterprise from the traditional non-profit actor. In 2012, Social Enterprise UK ran the 'Not In Our Name' campaign against Salesforce.com , a global software and CRM company that had begun using the term 'social enterprise' to describe its products and had applied for 'social enterprise' trademarks in the EU, US, Australia, and Jamaica. The campaign

3185-548: The long term. Attempting a comprehensive definition, social enterprises are market-oriented entities that aim to create social value while making a profit to sustain their activities. They uniquely combine financial goals with a mission for social impact. Their models can be expanded or replicated to other communities to generate more impact. A social enterprise can be more sustainable than a nonprofit organisation that may solely rely on grant money, donations or government policies alone. A social enterprises can be structured as

3250-426: The networks provide inspiration, demonstrate business innovation through commercially viable social or environmentally sustainable operations, and creative ways for motivating or developing staff or diversifying CSR strategies. For philanthropy, social enterprise is not well understood or recognised. The networks provide opportunities to discover social innovation, and to generate lasting system-level impact by harnessing

3315-404: The nexus between business and charity. For example, SENVIC's Annual Review 2020-2021 notes that of its 700 members, there are 250 associate members from government, business and philanthropy. For government, the network creates opportunities to diversify social procurement spending or to explore social innovation and transform policy approaches to tackle intractable or wicked problems. For business,

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3380-422: The non-profit sector, which resulted in many non-profit firms placing more focus on generating income. Other scholars have used institutional theory to conclude that non-profits have adopted social enterprise models, because such models have become legitimized and widely accepted. Some organizations have evolved into social enterprises, while some were established as social enterprises. Social enterprise has

3445-414: The proportion of Gross State Product they produce. 20% of Victoria's social enterprise workforce is people with disability (i.e. 12,000 jobs) and 7% of jobs are held by people previously experiencing long-term unemployment. Swinburne University estimates that there are over 20,000 social enterprises nationwide. Based on its Victorian analysis, it can be extrapolated that: Following the 'Map for Impact,

3510-454: The pursuit of their social mission. However, two potential issues emerge: 1) distraction from the social goal in pursuit of contradictory business activities; and 2) inadequate skills, resources, and capabilities for the adoption of the social enterprise model. Many commercial enterprises would consider themselves to have social objectives, but commitment to these objectives is motivated by the perception that such commitment will ultimately make

3575-433: The social enterprise sector as well as the internal management of social enterprise organisations. Due to the dual-purpose missions of social enterprises, organisations cannot directly employ the typical management strategies of established business models. Recent academic literature has argued against prior positively held views of social enterprises success in striking a balance between the two tensions and instead argued that

3640-450: The social enterprise's social mission is to help the disadvantaged, which is executed by directly providing goods or services (not money). Additionally, earned revenue must be the main source of income for the organisation or venture. A third definition is purely based on how the organisation is legally structured or formed as a legal entity. In this context, a social enterprise is a legal entity that, through its entity choice, chooses to forgo

3705-507: The social impact of programmes. Socially responsible investing (SRI) seeks to maximize both financial gain and social impact. Social Enterprises often use for-profit business strategies to fund social change. The methods by which these Social enterprises create sustainable revenue streams differ from social business to social business, but all share the goal of abandoning the need for government or donor support. Gregory Dees and Beth Anderson discuss this difference in funding strategies as

3770-427: The social mission is being compromised in favour of financial stability. Prioritising social good over financial stability contradicts rational firm management, which typically prioritises financial and profit-seeking goals. As a result, different management issues arise that range from stakeholders (and management) agreeing on the firm's goals but disagreeing on an action plan to management and stakeholders disagreeing on

3835-633: The social or environmental aims of the organisation. The idea of a social enterprise as a distinct concept first developed in the late 1950s. In 1980 Bill Drayton, further popularised the concept by the foundation of Ashoka, one of the first successful global social enterprise movements. In the 1970s in the UK the concept became used as an alternative commercial organisational model to private businesses , co-operatives and public enterprise . The concept, at that time, had five main principles divided into three values and two paradigm shifts. The two paradigm shifts were: The three principles, now referred to as

3900-564: The term "social enterprise" in his 2009 book Banker to the Poor , and in other essays. Muhammad Yunus used the term referring to microfinance . His work in the area of extending micro-credit especially to women in societies where they are economically repressed, led him to receive the Nobel Peace Prize in 2006. In the US, Harvard , Stanford and Princeton universities built on the work of Ashoka , and each made contributions to

3965-452: The term 'social enterprise', and remove any references to 'social enterprise' in its marketing materials in the future. Organizations that do not take the distinct form of either a private, public, or non-profit organization are classified as hybrid organizations. For legal and tax purposes, hybrid forms are classified as for-profit entities. The two main types of hybrid organisations are the L3C, or low-profit limited liability company , and

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4030-628: The term 'social enterprise'. This was the resulting definition: Social enterprises are organisations that are: In 2017, the Centre for Social Impact at Swinburne University undertook a comprehensive mapping project of social enterprise in Victoria. The 'Map for Impact' Report identified 3,500 social enterprises in Victoria alone, employing over 60,000 people or 1.8% of the state's workforce. Victoria's social enterprises contribute over $ 5.2 billion in gross output to Victoria's economy. Social enterprise

4095-704: Was established in 2005 by Social Enterprise London (with support from the London Development Association). The Social Enterprise Journal has been followed by the Journal of Social Entrepreneurship , and coverage of issues pertaining to the social economy and social enterprise is also covered by the Journal of Co-operative Studies and the Annals of Co-operative and Public Economics . The European Social Enterprise Research Network (EMES) and

4160-513: Was paid only 50 cents for his first acting role. "He started working as an assistant with a counselor and a psychologist as a freelancer without any relevant qualification by which time he had chalked up 3 years worthy experience with the Nigerian Television Authority (NTA)." Williams and Chude Jideonwo started The Future Awards Africa and went on to co-found Red Media Africa. He co-founded EnoughisEnough (EiE),

4225-665: Was supported by similar organisations in the US (the Social Enterprise Alliance), Canada, South Africa, and Australia. An open letter was sent to the CEO and Chairman of Salesforce.com asking Salesforce.com to stop using the term 'social enterprise'. It was signed by people and organisations around the world, including Muhammad Yunus ( Grameen Bank founder and Nobel Peace Prize laureate), Richard G. Wilkinson , and Kate Pickett (co-authors of The Spirit Level ). Salesforce said it would withdraw applications to trademark

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