Management and assessment of risk efficiency in the field of socially oriented entrepreneurship
Year: 2024
Type: article
Abstract: Social enterprises that address social problems rapidly develop as an alternative to traditional economic models. When existing economic systems or market mechanisms fail to ensure the well-being of society, social enterprises can offer new solutions to overcome growing social challenges. The sphere of social entrepreneurship in Ukraine is attracting more and more attention from citizens every year and requires research and approaches. Social entrepreneurship allows for the combination of previously considered incompatible goals, namely, a direct impact on solving critical social problems and making a profit. Every organization runs the risk that something unforeseen may happen, that something may disrupt the production process, cause significant losses, or even destroy the business. Social enterprises also face these challenges, but unlike traditional businesses, social entrepreneurship carries greater responsibility for the results of its professional activities. Some challenges are more specific, while others are general and intermediary. Risk management involves identifying, analysing, assessing, and reducing losses and monitoring risk control and financial resources to reduce possible negative consequences and damage. Therefore, for practical activities in social entrepreneurship, it is necessary to explore the potential associated risks and possible ways to manage them. The study performed the following tasks: define the basic concepts related to risk management in the field of social entrepreneurship; identify the features of social entrepreneurship; identify potential risks in the field of social entrepreneurship; identify possible methods of risk management in the field of social entrepreneurship. Risk management in social entrepreneurship is an activity within a social organization that aims to reduce the impact of dangerous events on its functioning and achievement of social goals. Keywords: assessment, management, social risk, risk efficiency assessment, social entrepreneurship, social protection.
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4407369862