Business Challenges of the 21st Century

Topics: Sociology, Homelessness, Social Issues Pages: 4 (1161 words) Published: May 6, 2011
The big Issue

The challenges of 21-st century that many businesses face are dynamic and heterogeneous. As times goes on business models are not focused only in maximizing profit but to create value for the society. It is a long process when you have to consider potential stakeholders. Issues of social responsibility are very sensible for the public opinion and can affect company’s image. The main purpose of this paper is to analyze the impact of social responsibility in firm’s growth and image. The company which will be analyzed demonstrates that there is no big difference regarding profit between social businesses and private enterprises. THE BIG ISSUE is the pure example of how social responsibility can lead to a very profitable business. “The Big Issue is a business solution to a social problem, demonstrating that an organization can succeed whilst being simultaneously driven by commercial aims and social objectives.”

The Big Issue is a magazine founded in 1991 with the main aim to help rough sleepers on the streets of London. The main articles of this magazine are related with social issues such as unemployed people, quality of food & drink, environment protection, charity, lifestyle etc. The distribution channels are managed by homeless people (vendors) who work separately from the magazine. The vendors go through a process of recruitment and training before they begin selling. Vendors buy the magazine for one Euro and they sell it for two Euros but are not considered as Big Issue employees. No money is reimbursed for the unsold magazines but they are trained in advance how to manage the work and take responsibility. From this activity the Big Issue earns money which allows promoting and expanding its issue all over the world. Nowadays they operate in Australia, Japan, Kenya, Korea, Malawi, Namibia, Ireland, South Africa and Taiwan. The expansion of this business idea shows the flexibility and sensibility of public...

References:, accessed on March 20-th
CSR workshop held in MSM
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