Question 5 After covering the basic concepts of the business-society relationshi

Question

Question 5 After covering the basic concepts of the business-society relationship and better understanding the significant stakeholders businesses have to manage, it is important to consider more inclusive approaches to stakeholder engagement. These include alternatives like social enterprise and collaborative alliances.

a) Explain, in detail, the concept of micro-financing. Discuss the challenges and opportunities presented by this form of social enterprise and identify the stakeholder priorities and potential tensions that may exist. Provide a real life example where this approach has been successful.

b) Explain, with specifics, the concept of public-private partnerships (PPPs). How would private businesses benefit from this collaboration? Discuss the challenges and opportunities presented by such an alliance. Provide a real life example of such an existing partnership.

Explanation / Answer

Stake holders involve in PPP- In public privet partnership, major four steak holder involve

1. Rule framing agency that is government & executive empower to frame regulations

2.Organiser- agency who is capable to conduct micro finance activity and upgrade stander of living of poor.

3.Vender- Intermediate service provider raw material supplier or warhorses.  

4.Enduser or beneficiary- individual or team of people who wants financial support to run enterprise.

Concept of Micromanaging - To develop livelihood activity it require financial support, this support get available by some social institution as well from government. These activity require small credit for its existence and commencement which result in supplement to existing income. This also known as cottage industry.

Major challenges & opportunity- As beneficiary engage in this activity belongs to poor family and below literacy. Major challenges involve these community are scattered and do not hold any integrated as team. And as small enterprise is considered for getting its successful it require team operation. This team may break there promises if not get lead by proper leader. Thus proper leadership is not available.

Opportunity to develop this leadership is known as capacity building, capacity building involve hand hold facility to promote entrepreneur concept so that there will be social up liftmen.

Example in real life if person get micro finance for purchasing goat then he can repay installment as per repayment schedule.

Public privet partnership-social development is joint responsibility of public and privet. Public authority involve government official, who are capable to frame rule. Privet steak holder involve Organizer, Vender, end user or beneficiary. In most cases Organizer are NGO that is non government social organization who are dedicated for activity involve in social development. Vender are team member who supplement there contribution by getting them selves as supporting & boost enterprise. End user are people whose lively hood depends on activity.

This collaboration public and privet give boost to develop enterprise as privet player wants to invest there resources public uplift activity, here government liberalize there rule and regulation and makes privet players to contribute for social development. If social stander of people increased it will result in more purchasing power and this up liftmen helps boost the national economy.

Example - A group of woman engage in pickle manufacturing at local level if wants to expand there business to big area then by obtaining loan as micro finance.

Thus Micro enterprise directly develop productive enterprise by PPP (Participation of public and privet)

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