A Stakeholder Approach to Social Entrepreneurship: The Case of Fascino Couture
Assistant Professor, Institute of Management Sciences
Assistant Professor, Institute of Management SciencesAssistant Professor, Institute of Management Sciences
Stakeholders are persons and/or institutions which affect or can be affected by the actions of an enterprise. No organization can function without attending to the needs of its stakeholders. In this paper, we view social entrepreneurship through the lens of stakeholder theory. We argue that Fascino Couture, our case organization, is operating as a social enterprise by focusing on the needs of one of its most significant stakeholders, i.e. employees. Focusing on the needs of such an important stakeholder group creates win-win situation for the social entrepreneur as well as that stakeholder group. Our study demonstrates empirically how through the actions of the social entrepreneur, she creates value not only for herself but for her employees as well in that they earn a better wage rate and their income level improves. We conclude that a social entrepreneur not only influences but is also influenced by the actions of her stakeholders as she tries to strike a fine balance between economic and social success simultaneously.
Keywords: Social Entrepreneurship, Women Artisans, Stakeholder theory