CONCEPTUAL FRAMEWORK FOR QUALITY OF LIFE MANAGEMENT: SOCIAL ENTREPRENEURSHIP PERSPECTIVE

Abstract

This article shows that initiatives of social entrepreneurs and socially-active entrepreneurs can enhance collaboration for value creation between business- and social-markets. In global business understanding, co-creation for social and economic value more often becomes an important self-accelerating mechanism, helping to improve a country’s quality of life, competitiveness, and economic growth.

By given holistic approaches to Welfare, Quality of Life, and Co-creation in the perspective of Social Entrepreneurship, this article seeks a more systematic understanding of social and economic development at regional and national level, which requires active input from all market actors and interest groups – including entrepreneurs, academics, and policy makers – in order to create and co-create value together and achieve visible results.

Main aim of this article is to introduce conceptual framework for quality of life management by highlighting the role of social entrepreneurs as main accelerators for social capital and value creation in a certain region or country. Accordingly, article stresses that businesses in practise need to consider a wider competitive environment, starting with the rapidly changing local environment (both institutional and socio-economic) and the global infrastructure in order to gain significant insights and align the company’s strategy accordingly. Scientific literature review and synthesis are applied as a research methodology.

DOI: http://dx.doi.org/10.5755/j01.em.17.4.3002