The governance of social enterprises: Mission drift and accountability challenges in hybrid organizations |
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| Affiliation: | 1. Harvard Business School, Soldiers Field, Boston, MA 02163, United States;2. Hertie School of Governance, Friedrichstraße 180, 10117 Berlin, Germany;1. Graduate School of Business, Stanford University, United States;2. Department of Psychology, University of Denver, United States;3. Department of Psychology, Stanford University, United States;1. Management and Organization Department, Smeal College of Business, The Pennsylvania State University, 452 Business, University Park, PA 16802, United States;2. Department of Management, Daniels College of Business, University of Denver, United States;3. Department of Business Administration, Alfred Lerner College of Business and Economics, University of Delaware, United States;1. Management Department, McCombs School of Business, University of Texas at Austin, 2110 Speedway, CBA 4.258, Austin, TX 78712-0210, United States;2. Management Department, Wharton School of Business, University of Pennsylvania, 3620 Locust Walk, Suite 2000, Philadelphia, PA 19104-6370, United States |
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| Abstract: | We examine the challenges of governance facing organizations that pursue a social mission through the use of market mechanisms. These hybrid organizations, often referred to as social enterprises, combine aspects of both charity and business at their core. In this paper we distinguish between two ideal types of such hybrids, differentiated and integrated, and we conceptualize two key challenges of governance they face: accountability for dual performance objectives and accountability to multiple principal stakeholders. We revisit the potential and limitations of recently introduced legal forms to address these challenges. We then theorize about the importance of organizational governance and the role of governing boards in particular, in prioritizing and aligning potentially conflicting objectives and interests in order to avoid mission drift and to maintain organizational hybridity in social enterprises. Finally, we discuss future research directions and the implications of this work for rethinking traditional categories of organizations, namely business and charity. |
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| Keywords: | Governance Accountability Social enterprise Nonprofit Organizational hybridity Organizational form Performance Mission Benefit corporation L3C CIC |
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