The Sustainable Success and Growth of Social Ventures: Their Internal and External Factors

Jisong Kim, Jinhee Lee and Timothy J. Lee
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Jisong Kim: Department of Economics, College of Economics & Business Administration, The University of Suwon, Hwaseong 18323, Korea
Jinhee Lee: Department of Tourism, Hanyang University, Seoul 04763, Korea
Timothy J. Lee: Faculty of Hospitality and Tourism Management, Macau University of Science and Technology (MUST), Macao 999078, China

Sustainability, 2021, vol. 13, issue 9, 1-19

Abstract: The social venture ecosystem is important for the growth and sustainability of social ventures. This study aims to expand our understanding of the sustainable success and growth of social ventures by analyzing both their internal and external factors using interviews with social venture entrepreneurs and stakeholders in the ecosystem. A qualitative research method is employed to examine the interviewees’ perspectives, and the data were analyzed using the framework of grounded theory. The three-step grounded theory process was performed via open coding, axial coding, and selective coding. The study findings are drawn by organizing the outline according to this coding method. Entrepreneurs’ awareness and willingness to solve social problems led to a sense of challenge, and the formation and maintenance of business models in the preparation stage positively affected the performance of social ventures through internal corporate resources and external cooperation. The study is of academic significance in that it presents a diversified dynamic concept of sustainability of social ventures compared to previous studies, which have been only fragmented studies. It also presents a number of managerial implications for sustainable development and the constant growth of social ventures.

Keywords: grounded theory; social venture; sustainable ecosystem; sustainability; Korea (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:9:p:5005-:d:546270

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