To know a concept in social sciences, one must know the (a) class and subclass to which the concept belongs; (b) its aim or vision; (c) its characteristics; (d) its components for action planning.
With current funding problems for social causes and challenges thrown up by upcoming and new market trends such as online working, on-line learning, e-commerce, privatization of social life through private institutions, coaching centres, short term skilling spells, etc..
The up-coming social scene due to COVID-19 pandemic has thrown up a new interdisciplinary field of social work or action for social causes and business called social business, social entrepreneurship or social enterprises.
It is being felt that non-profit organizations which are dependent on external funding, donations, or public grants to operate and survive are feeling the brunt of technology driven life supported by the government and private sector in the name of development.
Furthermore, the formal courses like social work, social pedagogy, social business, social engineering are being promoted by the higher education sector. Consequently, the pass-outs are either turn out be be misfits in the NGO sector or drop-out to start their own social business or join the social business enterprises.
In such a scenario, the idea of 'social business', as any other business, is being tried out by many social groups for identified social causes and make their work self-sustainable.
Donations, external funding, and charity, etc., have become short-term one-time funding for NGOs with an insistence on self-sustenance. Also, many business houses have started creating their own trusts and civil society organizations on social business model for profit utilization.
The concept of social business in the present scenario is given the inset concept matrix as I have understood it.
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