social business (social enterprise)

Contributor(s): Lauren Horwitz

Social business is an umbrella term used to describe an organization that includes social media as part of its business plan.  

A business that describes itself as being a "social business" may actually create or provide support for social media platforms and technologies -- or it may simply align itself with the benefits that broadening a company’s reach and brand through social media offers. According to some experts, social business is the foundation of the sharing economy, facilitating the ways that companies can use crowd-based technologies to make goods and services available on demand. 

The term social business may also be used to describe an organization whose mission statement involves addressing a societal issues such as education, child welfare or mental health. The primary motivation of a social business, in this context, is not necessarily to derive profits, but to help solve social problems. 





This was last updated in January 2015

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