A framework for social business models analyses
Keywords:Social Business Models, PIM Model, Investment Criteria, Taxonomy, Social Initiatives Classification
Social entrepreneurial initiatives (SEI) answer problems and needs that otherwise would remain unattended. Therefore, they provide high collective interest social value achieved by a stable, reliable, and sustainable operation. Because the economic goal is a means to accomplish the social aim, it is hard to overcome resource constraints. SEIs must prove innovation and efficiency to access funding. However, the investment criteria are usually circumstantial or abstract. Additionally, the theory lacks the recommendation to enlighten how to increase the chances to be funded. The literature does not offer consensual, consistent, empirically tested criteria to compare business models. To help address these issues, this paper provides a Delphi analysis of a social business model taxonomy. The following criteria selected interviews from a broad study: 1) have qualitative and quantitative data recorded; 2) represent different SEIs’ types in the taxonomy. Then, four invited scholars blindly reviewed the data. They are experts in social innovation, entrepreneurship, sustainability, and social psychology. Online meetings helped to solve doubts and build synthesis. All Delphi participants described their opinion about the taxonomy fit by e-mail. Results were also compared by previous statistical classification. The Delphi process happened from December 2020 to June 2021. The similarity between statistical and analytical results indicated that the taxonomy is an efficient tool to identify and compare elements of the social business model. The study made the taxonomy easier and more replicable, providing an analytical framework. Evidence can help social agents and investors to frame information and achieve better decision-making.