By recognizing this more accurate representation of the corporation, social computing has the potential to make companies more efficient by optimizing the faster, more natural flow of information between people.
Ironically, the modern multinational corporation is perhaps the most sophisticated social organizational platform built in human history, with resources and global reach that are unprecedented.
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In the United States, new corporate forms (such as the Benefit Corporation, flexible-purpose corporation, social-purpose corporation, L3Cs and benefit LLCs) have recently emerged to better address the needs and goals of social entrepreneurs, but these changes are not standard across other countries.
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But now, the social media corporation has their first official support from a sovereign nation: Thailand.
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The social function, for instance, imposes different constraints on entrepreneurial and managerial functions, while the entrepreneurial and managerial functions impose their own constraints on the social function of a corporation.
As that commitment grows across the enterprise, organizations will grapple with how social is going to be accounted for across the corporation as a whole.
Now that the Delaware legislature has introduced benefit corporation legislation, the next big push is to make sure there are some social enterprises ready to register when it becomes effective, which should be Aug. 1.
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Related Idea: Become a B Corp, a new type of corporation that uses the power of business to solve social and environmental problems.
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For quite a while preceding that move, the corporation had used the term to describe its vision of social and mobile technologies.
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Simply put, organizations must make environmental and social performance a part of the way the corporation operates just as much as it does financial performance.
After its completion, the President directed the Corporation for National and Community Service (CNCS) to launch a cornerstone initiative of the new law, the Social Innovation Fund (SIF).
One big concern is that businesses might adopt the term "benefit corporation" for marketing purposes without taking meaningful steps to address social and environmental concerns.
See how you can move your corporation more swiftly towards social, by adapting one or more of the approaches that Kare Anderson heard at the BusinessNext conference she co-hosted with Mark Fidelman and that social enterprise strategist, Andy Jankowski, augmented with his insights.
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If you want to protect the social mission of your business, talk to your attorney about becoming a Benefit Corporation.
The federal government also provides means tested assistance through multiple programs for child care, education, job training, and the Low Income Energy Assistance Program (LIHEAP), the Social Services Block Grant, the Community Services Block Grant, and the Legal Services Corporation, among other programs.
But as social entrepreneurship gains momentum across the U.S., supporters of state benefit-corporation laws are clashing over how strictly entrepreneurs should be held to their social and environmental missions.
In part driven by the new world of technology where social media in all its guises enables the consumer to delve deeper in to the heart of any corporation, the stress on the fifth P can enable any company to differentiate themselves on a crowded shelf of brands and appeal to the heart.
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