Profit-driven businesses can positively impact people by creating jobs, building capacity and driving economic growth but their primary motive is often the financial bottom line. A social enterprise has similar benefits but places a stronger emphasis on tackling complex problems for societal benefit. Varying percentages of their profit are redirected back into addressing community needs. In essence, while both profit-driven and social enterprises involve innovation, risk-taking, creating value and making profit, the key distinction lies in their primary motivations and social outcomes.
“We believe that through collaboration with Strategic Partners, we can do more to impact the lives of the vulnerable. When we partner with other organizations that share a mutual vision and mission to empower the poor, we’re able to expand our work to reach more communities and help more people escape the generational cycle of poverty.” -Thrive For Good
It’s a catchy sentiment, and a nice way to wrap up the Power of Celebration sessions shared with over 100 Charis partners from all over the world. But like many motivational quotes, it needs a little more context and nuance to be practical in the raw realities of day to day charity leadership.
The Charis Foundation has been facilitating conversations with charity leaders and donors to discuss how to bring greater health and wholeness to the Christian charitable-philanthropic sector. We have been doing this alongside Brent Fearon of The Foundation Office, Lauri Thompson from Tapestry Philanthropy Partners, and Consultant Dr. Rod Wilson. Read a summary here.
Over the past two years, The Charis Foundation has appreciated talking to iTeams Canada about how to navigate the pandemic both in Canada and with partners around the world. See their reflections on trust here.