Economy and Transformation

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What is the main focus of the Social and Solidarity Economy (SSE)?

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The SSE prioritizes social and environmental objectives over profit maximization.

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What are the key characteristics of the Social and Solidarity Economy?

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1. Primacy of people and social purpose 2. Democratic governance 3. Voluntary cooperation and mutual aid 4. Reinvestment of profits 5. Autonomy and independence 6. Long-term sustainability

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What is the shareholder approach according to Milton Friedman?

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Friedman argues that the only social responsibility of business is to increase its profits.

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What is the stakeholder approach according to Edward Freeman?

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Freeman argues that stakeholders include not just shareholders but also employees, customers, suppliers, and others affected by the organization's actions.

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What is agency theory?

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Agency theory examines the relationship between principals and agents, highlighting the conflicts of interest that can arise due to information asymmetry.

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What is the difference between CSR and Creating Shared Value (CSV)?

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CSR focuses on doing good and is often separate from profit maximization, while CSV integrates societal benefits into profit-making strategies.

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What are some examples of organizations within the Social and Solidarity Economy?

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Cooperatives, social enterprises, mutual aid societies, NGOs, fair trade organizations, and credit unions.

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What is the main idea behind social enterprises in the SSE?

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Social enterprises are profit-oriented but reinvest all profits to help more people rather than paying dividends.

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What is the principle of corporate rights in the stakeholder approach?

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The corporation has the obligation not to violate the rights of others.

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What does the term 'creating shared value' refer to?

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Creating shared value refers to the idea that businesses can generate economic value while also addressing societal challenges.