No we are not talking about the use of social networking technologies in the business setting. Instead, we are talking about a new type of capitalist based businesses supporting social objectives. They are different from non-profits as they generate profit, but their focus is social vice financial success.
The concept was developed by Professor Muhammad Yunus and he defines social business as:
"social business is a non-loss, non-dividend company designed to address a social objective within the highly regulated marketplace of today. It is distinct from a non-profit because the business should seek to generate a modest profit but this will be used to expand the company’s reach, improve the product or service or in other ways to subsidise the social mission." Wikipedia
We at CDCG really like this approach as it is a win-win capitalism business model. We can help such organizations create their ICT strategy with a roadmap that ensures the technologies selected can expand as their business grows.
Contact us to see how we can help.