Business ethics. Social enterprise and business and poverty Essay

Business ethics. Social enterprise and business and poverty. Responsible investment - Essay Example This essay describes action of SELCO in her social entrepreneurship responsibility. SELCO has set example in social entrepreneurship both in India and worldwide. The company successfully presented solar electricity for lighting and power to the less privileged persons in the society. SELCO faced several challenges before succeeding in her operations and objectives in helping the poor. It initially grew purposely through gaining of enough capital and experience thus making it to attempt expanding her networks, which greatly interfered with her financial status. The company then increased the price of the solar panels thus causing a serious decline in the sales and the general operations of the company. Investors were not impressed by the decline of the business and forced the company to lay off employees and contract the business in 2000s. In 2008, SELCO acquired finance from the World Bank and International Finance Corporation to streamline the company although the company remained a for profit organization. However, the director of the company was able to obtain new investors who were aligned with the mission of the company thus making the company to keep her sales and service organization intact. The director was also able to boost the morale of the company’s employee who helped it to continue devising innovative solar solutions. The company successfully devised the solar system that could suite specific needs of the needy urban and rural persons. This was indeed a very good way of achieving social entrepreneurship objective of fulfilling the society needs. SELCO was able to design solar panels that exactly met the needs of the society by beginning with a broad needs assessment of specific part or activity of the underprivileged people in the society (Crane and Matten 2010, p. 474-476). The company ensured that they designed solar panels for street vendors, midwives and even the rural farmers who were in dire of the solar panel. The redesigning process involved many different activities that would ensure that the needs of particular markets were met. The company ensured that her operations were client based thus causing it to restructure and redesign her solar panels. SELCO was able to acquire funds from the World Bank and IMF perhaps due to her social objectives. It also gained publication due to her social entrepreneurship objectives. The company also arranged for financial assistance for the rural people who could not afford to buy even the cheap user customized solar panels. This slowed the company’s growth and made it to earn small levels of profit. The company could also not align her social objectives with the investors needs. Responsible Investment Responsible investment is one of the optimistic emerging trends in the financial world that integrates financial goals with positive business values that shapes the society future. Responsible investments vary because some companies may invest in the environmental factor s, employees’ welfare or society effects such as smoking. Responsible investment is a very vital area in doing business since sustainable society is crucial to the company’s values. Although it is important for organizations to reconcile society’s needs and the business objectives, the main problem is linking the economic, social, and environmental advantages with the