Page 175 - Social Enterprise A New Business Paradigm for Thailand

with Disabilities Act, as well as from private sector partners. For example, in July 2024, the
company announced it expected to receive approximately 26.57 million yen in funding from UBS

AG’s London branch. Litalico is also publicly traded on the Tokyo Stock Exchange under the symbol
7366 and maintains an annual dividend yield of 0.67% (Investing.com, n.d.) 123 .

5.4 Key Success Factors of Social Enterprises

From the international case studies previously discussed, the key success factors can be
summarized as follows:

1) One of the most critical success factors is having a leader with unwavering determination. The
case of Muhammad Yunus aligns with the Great Man Theory discussed in Chapter 1, which
suggests that successful social entrepreneurs possess exceptional personal qualities. These
individuals are deeply committed to their goals, driven, confident, and passionate about their
mission and ideals. No matter how challenging the path, they persevere without losing heart.
Yunus embodies this spirit. He believes that for the world to improve, society must rethink its

priorities, shifting from job creation to cultivating entrepreneurs. Humans, he argues, are
inherently entrepreneurial; from the Stone Age onward, survival has depended on ingenuity and
self-reliance. Without that, we would not have endured to the present day. Challenging
conventional wisdom, Yunus maintains that profit does not need to be the sole purpose of
business. Many people are willing to work for the greater good, so long as there is a sustainable
way to support themselves, and this is precisely what social business offers. Although Yunus has
faced numerous challenges, including political opposition as his influence grew, these obstacles
have never deterred him from continuing his mission, both domestically and globally. He also has
the vision to see untapped markets everywhere, even among the poor, in places others overlook.

These are what he calls unserved or underserved markets. Yunus’s success as a leader stems not
only from his passion and foresight, but also from his ability to build strong teams and manage
complex operations. He understands that social business requires real management expertise,
especially in the context of the Eastern world, where this factor becomes all the more crucial.

2) A clearly defined social objective is a key factor in the success of any social enterprise. It
requires identifying both the type of social issue being addressed and the specific group it aims
to help. For example, Aravind Eye Care System in India focuses on reducing blindness by offering
accessible eye care services to the poor. Grameen Danone Foods Ltd tackles child malnutrition,
while Lush Cosmetics addresses environmental concerns. In Bangladesh, target groups often

123 From Litalico Inc (7366), by Investing.com, n.d., retrieved on February 14, 2025,
(https://litalico.co.jp/en/company)
142