How Social Economy can add Value to State Development

Imran Bashir Dar; Dr. Kashif Ur Rehman; Dr. Muhammad Awais; Iram Batool

Abstract:

The research aim of this study is “Social economy” execution to exhibit its effect on the growth of a country. Although the social economy arises with the flowing together of economic and the social factors, however, to this point, the core object of social economy is considered the welfare of stakeholders instead of profit earning. This paper grasps the concept of value maximization by “social economy” perspective, which considers the integration of social and monetary advantages for state development through inputs in terms of institutionalized reforms and identification of development opportunities. Such point of view can assist with expanding the scope of our professional readiness and depiction subsequently, specifically helping professionals to comprehend the challenges associated to nation or societal economic prosperity. Qualitative research method has been engaged to evaluate value of social economy for development and social unity. This paper defines social economy in relation to third sector and argues that it must be seen as a distinct type of social practice as well as being inter-related to social enterprise and social entrepreneurship and thus having great impact on overall growth of a state. This paper finds that budgetary consideration of public welfare that is connected to provision of health facilities, literacy and social inclusion practices will be the source of amplified pressure triggering points for achieving the target of state growth.

research from:

• Foundation University - Faculty of Management Sciences

Year:

2019

Type of Publication:

Article

Journal:

Foundation University Journal of Business & Economics

Volume:

4

Number:

1

Pages:

1-9

Month:

2