Page 50 - Social Enterprise A New Business Paradigm for Thailand

are driven by social entrepreneurs. Others evolve from large corporations with Corporate Social
Responsibility (CSR) initiatives that choose to create dedicated units or spin-offs with greater

flexibility and long-term sustainability. In both cases, these organizations are profit-generating but
remain firmly anchored to their social missions. They balance the pursuit of financial stability with
a strong commitment to social impact and sustainable development.

Figure 1.1 Organizations Related to Social Enterprises: The Case of Thailand

It is evident that social businesses and social enterprises (SEs) occupy a unique space between
non-profit organizations (NPOs) and profit-oriented businesses, with the resolution of social
problems serving as their primary motivation. Among them, social enterprises especially
prioritize innovation as a tool to transform traditional business models, exploring novel and
contextually appropriate methods to address social issues while still generating reasonable

financial returns. In essence, both social enterprises and social businesses act as catalysts,
enhancing society’s ability to think creatively and pursue new opportunities through collaborative
partnerships and innovation-driven competition (Nascimento et al., 2021).

Furthermore, social entrepreneurs are expected to uphold environmental consciousness and to
build sustainable organizations that remain committed to achieving their social missions over
time (Balan-Vnuk, 2013). Core attributes of social enterprises include: operating as for-profit
entities, maintaining independence in management, promoting public awareness, advancing
social objectives, receiving governmental financial support, and contributing to economic balance

within local communities and regions (Choi, 2021).

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