The Dimension of Accountability in Social Enterprises

Aziatul Waznah Ghazali (), Nur Aima Shafie (), Zuraidah Mohd Sanusi (), Razana Juhaida Johari (), Soliha Sanusi () and Noradiva Hamzah ()
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Aziatul Waznah Ghazali: Universiti Kebangsaan Malaysia
Nur Aima Shafie: Universiti Teknologi MARA
Zuraidah Mohd Sanusi: Universiti Teknologi MARA
Razana Juhaida Johari: Universiti Teknologi MARA, Cawangan Selangor, Puncak Alam Campus
Soliha Sanusi: Universiti Kebangsaan Malaysia
Noradiva Hamzah: Universiti Kebangsaan Malaysia

A chapter in Corporate Governance and Sustainability, 2024, pp 51-65 from Springer

Abstract: Abstract Social enterprises are regarded as a new type of capitalism that combines market-based and philanthropic approaches. Based on the model, they serve as an innovative response to the lack of funding available to traditional non-profit organisations and the incapacity of traditional for-profit organisations and government agencies to meet the greater community’s needs. Numerous social enterprises in Malaysia achieve their objectives of promoting sustainable living and enhancing the economic status of disadvantaged individuals. However, due to their double-bottom-line objectives and multiple stakeholder participation, social enterprise accountability differs from that of for-profit and government organisations. The four common dimensions of accountability in social enterprises are accountability for social impact, financial accountability, accountability to stakeholders, and governance accountability. Nonetheless, it is essential to acknowledge that accountability in social enterprises is complex and requires ongoing efforts to balance competing priorities and satisfy the expectations of diverse stakeholders. Reporting should provide a clear and concise summary of the organisation’s impact, highlighting key accomplishments, obstacles, and lessons learned. As social entrepreneurship develops, the pursuit of accountability becomes increasingly important.

Keywords: Accountability; Social enterprises; Financial accountability; Stakeholder accountability (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-981-97-7808-9_3

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