Measuring impact of SE | Double bottom line | Triple bottom line | Quadruple bottom line |
Core idea | 1. To attain financial profit measure their fiscal performance in terms of positive social impact. | 1. To attain “social, economic and environmental (or political)” goals. | 1. To attain “social, economic, environmental political (or spiritual)” goals. |
Challenges & difficulties | 1. Management conflict 2. Mission drift (Eikenberry and Kluver, 2004) 3. Legitimacy crisis (Dart, 2004) | 1. Management conflict 2. Mission drift (Eikenberry and Kluver, 2004) 3. Legitimacy crisis (Dart, 2004) 4. Independence crisis (Borzaga and Santuari, 2003) [29] 5. Difficulty in quantifying social, and environmental aspects. (Norman and Macdonald, 2004) | 1. Difficulty in quantifying social, political, environmental, cultural, and spiritual aspects. |
Emerging entrepreneurship | 1. Business Entrepreneur (Schumpeter, 1934 [26] ; Drucker, 1985) 2. Nonprofit Entrepreneur (Skloot, 1988) [27] 3. Social Entrepreneur (Drayton, 2006) [28] | 1. Ecopreneur (Bennett, 1991; Dixon and Cliffors, 2007; Ivanko and Kivirist, 2008) [30] | 1. Cultural entrepreneur (DiMaggio, 1982) [32] 2. Spiritual Entrepreneur (Morgen, 2007) [33] 3. Citizen entrepreneur (Ballum, 2010) [34] |
Efforts in sustainability | Mostly applied by enterprises in the form of CSR (Corporate Social Responsibility) | The sustainability approach undamentally using the triple bottom line (economic, social and environmental). (Elkington, 1998; UN, 1987) [31] | Advocated with social, economic and cultural sustainability, holistically joining environmental sustainability in planning and decision-making. (The City of Norwood Payneham & St. Peters, 2013) [35] |