noun purpose
A social purpose company is a type of business entity that is formed to achieve specific social or environmental goals while also generating profit.
Social purpose companies often focus on sustainability practices in order to achieve their social or environmental goals.
Social purpose companies are seen as a way for corporations to incorporate social responsibility into their business models.
Social purpose companies are often compared to nonprofits, as they share a focus on social impact, but differ in their ability to generate profit.
Social purpose companies are a key component of the field of social entrepreneurship, where businesses are created to address social or environmental issues.
A writer may use the term 'social purpose company' when researching or writing articles about businesses that prioritize social or environmental impact alongside profit.
A psychologist may use the term 'social purpose company' when studying the effects of corporate social responsibility on employee well-being and job satisfaction.
An entrepreneur may use the term 'social purpose company' when considering starting a business that has a clear social or environmental mission at its core.
A business analyst may use the term 'social purpose company' when analyzing market trends related to consumer preferences for socially responsible businesses.
A nonprofit manager may use the term 'social purpose company' when exploring potential partnerships with for-profit companies that have a strong social or environmental impact.