Advanced Glossary

SME

The category of micro-, small- and medium-sized enterprises consists of enterprises which employ fewer than 250 persons and which have either an annual turnover not exceeding 50 million euro, or an annual balance sheet total not exceeding 43 million euro.

Social Economy

The social economy is a grass-roots entrepreneurial, non-profit sector, based on democratic values that seek to enhance the social, economic, and environmental conditions of communities, often with a focus on their disadvantaged members. Social economy refers to a "third sector" in economies between the private sector of business and the public sector and government. It includes organisations such as cooperatives, non-governmental organisation and charities.

Social Enterprise

A non-profit organisation realising economic activity in order to generate profits which cover organisation’s expenses on social activities.

Social Enterprises

are a part of the broader social economy or “third sector”, which includes all organizations that are neither part of the public nor private sector. The role of social enterprises is to strengthen the development of a social economy and secure local resources in order to offer social services to vulnerable groups that need support in order to be independent.

Social Entrepreneurship

is the recognition of a social problem and the uses of entrepreneurial principles to organise, create and manage a social venture to achieve a desired social change. While a business entrepreneur typically measures performance in profit and return, a social entrepreneur also measures positive returns to society. Thus, the main aim of social entrepreneurship is to further broaden social, cultural, and environmental goals.

Solar Power

The power produced by solar or photovoltaic cells.

Strategic Analysis

is one of the most basic and useful tools for strategic business planning. It will define your organization’s position relative to the competition and operational environments.

Strategic Benchmarking

is the process of comparing what your company is doing with what the best performing company in your industry is doing. It represents a long-term view of company direction relative to the future strategies of competing companies.

Strategic Choice

is defined as the selection of the best possible course of action based on the evaluation of your available strategic options.

Strategy Implementation

is defined as the way in which you will translate your strategy into actions. Strategic implementation requires careful planning and proper deployment of your company’s resources, careful handling of possible changes in your organisation structure and effective change management. Implementation of your strategy can take place in several stages.

Sustainability

Satisfying current human needs without compromising the ability of future generations to satisfy their own needs; operating in a manner that satisfies the following conditions: 1) must not remove materials from the earth faster than they can be regenerated by the earth, 2) must not pollute or contaminate the air, land, and water faster than the earth can process and clean them, 3) must not destroy or overharvest nature faster than it can regenerate itself, and 4) fairly and equitably covering basic global human needs.

SWOT Analysis

deals with strengths and weaknesses of your company as well as with opportunities and threats posed by the external environment and it analyses the internal processes of company as well as external factors.

 

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