Social business model design and implementation in developing countries

Abstract

Purpose The purpose of this paper is to contribute to the emergent research on social business models by revealing challenges encountered by the design and implementation of such business models. Design/methodology/approach Case study of the development of FACA, an affordable medicine used to treat sickle cell disease, from traditional medicine to market in Burkina Faso. Findings Social business models present important challenges in terms of value capture for all stakeholders. The social profit equation and the profit equation suggested by Yunus et al. are difficult to apply in practice, and therefore, social business model design should consider the social and profit equations jointly. Originality/value Developing countries are seeking different approaches to innovation and healthcare. Social business models appear as one of the potential solutions to bring value to society, organizations, and individuals. The identification of challenges raised by social business models can help policymakers and executives in the design and implementation of these social business models.