01
Purpose
Social and environmental goals sit alongside — and may take priority over — purely financial goals.
MISSIONPutting the Public First
REIMAGINING VALUE FOR THE COMMON GOOD
Putting people, communities and planet at the heart of economic value.
The Social Economy brings economic activity, social purpose and environmental responsibility together. Economic viability matters — but it invites us to ask a bigger question:
Viability for what purpose — and for whose benefit?
A DIFFERENT WAY OF THINKING ABOUT ECONOMIC VALUE
The term Social Economy describes a diverse field of organisations and activities driven by social and environmental objectives rather than purely for-profit motives.
It includes cooperatives, social enterprises, nonprofits, mutuals, foundations and community organisations that seek to balance economic success with social and environmental impact.
Rather than treating financial performance as the only measure of success, the Social Economy asks how economic activity can strengthen communities, widen opportunity, protect our environment and create sustainable value for present and future generations.
SIX CHARACTERISTICS
Different organisations take different forms, but six characteristics help explain the distinctive logic of the Social Economy.
01
Social and environmental goals sit alongside — and may take priority over — purely financial goals.
MISSION02
Democratic and inclusive governance gives members and stakeholders a meaningful voice in decisions.
GOVERNANCE03
Social entrepreneurs develop innovative and financially sustainable responses to social challenges.
INNOVATION04
Strong local relationships connect economic activity to the people and places it is intended to serve.
CONNECTION05
Cooperatives, nonprofits, mutuals, social enterprises and other forms provide different routes to social purpose.
PLURALITY06
Success considers a triple bottom line: economic viability, social value and environmental responsibility.
VALUEFROM ECONOMIC ACTIVITY
A Social Economy does more than redistribute value after it has been created. It changes how value is understood, created and shared.
Jobs, enterprises, innovation and sustainable economic activity.
People, communities, institutions and organisations around shared purpose.
People whose needs and voices can be overlooked by conventional markets.
Financial and other forms of value into people, communities and planet.
MORE THAN AN ECONOMIC SECTOR
The Social Economy is sometimes described simply by the organisations within it. We take a broader view.
It asks us to look beyond financial capital alone and recognise the importance of human, social, community and environmental value.
It shifts attention from transactions to relationships; from shareholders alone to stakeholders; and from short-term return towards sustainable prosperity and the common good.
A CONTINUING INQUIRY
What kind of economy do we need to create a fairer, healthier and more sustainable society?
How can communities, organisations, businesses and governments work differently to create shared value?
What should prosperity ultimately enable — for people, communities and generations yet to come?
The Social Economy is not an alternative to
economic success.
It asks us to reconsider what economic success is for.