The continued growth of social ventures is an accepted fact that’s rarely—if ever—formally quantified. This is likely due, at least in part, to varying definitions and terminology used to describe the same trend: using the methods and disciplines of business and the power of the marketplace to advance social, environmental, and human justice agendas.
More than a passing fad, the desire to use business for good has been driven by 1) increased awareness of societal problems, 2) idealistic millennials seeking employment, 3) national debt limiting government’s ability to take progressive action, 4) heightened consumer pressure, 5) impact investing going mainstream, and 6) legacy-focused baby boomers.
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