Question

4. a) How can fourth-sector organisations address conflicting social and economic objectives if they want to be successful?

b) Explain why social entrepreneurs need to develop social impact measurement frameworks.

Answer 1

The fourth sector organisation basically means those organisations where the market based private sector organisations combine their objective with the objective of social and environmental objectives of the public and non-profit organisations or sectors.
The fourth sector organisation is considered to be the ‘for-benefit’ organisation.
If the forth sector organisation wants to be successful in the economy then it is very important to resolve the conflicting social and economic objectives because these objectives are prominent to solve and to create a positive environment for the fourth sector organisation.
The social and economic objectives of the fourth sector organisation are important for the expansion of their market policies and the production efficiencies.
The conflict is basically the distribution of profit and to maintain sustainable environmental protection policies.
Therefore it is important to maintain a proper balance by adopting an environmentally friendly policy for the enhancement of production efficiency between the profit motive and the social and economic motive.
2. Social entrepreneurs need to develop social impact measurement frameworks because it is very important for all the social entrepreneurs to work for the sustainability of the environment and the working of the organisations.
Social entrepreneurs in an objective to promote the betterment of environmental policies.
Social impact measurement framework is basically a structural tool to manage and to organise the social work with the help of a systematic corporate settlement in the economy.
The monitoring is important because without this the proper measurement and the calculation of benefits are not possible.
The condition is not acceptable in the case when there is no data available related to the measurement tools for production efficiency.