ENTREPRENEURSHIP, BALANCING BETWEEN SOCIAL ENGAGEMENT AND MANAGEMENT: PRACTICAL EVIDENCE Daniël De Steur, General Director, Economic Council of East Flanders, Seminariestraat 2 , B-9000 Gent (Belgium) Phone: 00 32 9 267 86 10 – Fax: 00 32 9 267 86 95 e-mail: [email protected] - website: www.erov.be Ann Vanassche, Counsellor Social Profit, Economic Council of East Flanders Seminariestraat 2 , B-9000 Gent (Belgium) Phone: 00 32 9 267 86 10 – Fax: 00 32 9 267 86 95 e-mail: [email protected] - website: www.erov.be

Introduction In September 2000 EROV (Economic Council of East Flanders) organised in co-operation with the Vlerick Leuven Gent Management School the 30th European Small Business Seminar with as its theme: “Business in difficult circumstances”. During the congress, the application of entrepreneurship in differing and difficult circumstances was discussed and analysed. One of the sectors which came under the spotlight was the social sector, with an analysis of the way that these different organisations were managed. Out of a professional (academic) investigation, in combination with practical knowledge from the management within the social sector, the consensus grew that there was a need for a number of initiatives which could strengthen entrepreneurship in the social sector.

On the basis of a summary of various study results (see: study report 'management in the social profit sector', July, 2000) a proposal for a project was formulated "Steering Project for the social profit sector". The proposal was then submitted to the Flemish Government by the Provincial Council of East Flanders(EROV). On the 28 December 2001 the Steering Project for the social profit sector was approved. From January 2002 on, EROV began to develop the project in full. The first participating group started on 7 November 2002 with 14 participants covering a wide cross-section of the East Flanders social sector. Today we therefore present the current status of the project which gives answers to the various crucial points that were identified 2 years previously. Experience and the successful progress of the Steering Programme has convinced us that it can provide an example formula with which to stimulate a professional approach within the start-up of small organisations or entrepreneurs in difficult circumstances.

entrepreneurship, balancing between social enagagement and management: pratical evidence

1

On the basis of the crucial points arising from the previous study, a number of recommendations were made: 1.

devise a suitable management procedure, taking into account the social objectives and the social character of the organisation. Are models from the social profit sector transferable or must they be modified?

2.

develop and offer management restructuring and training for these organisations

3.

organisation of the counselling at management level of these organisations

4.

investigate the need to ensure that the subsidy policy is in tune with the real and fully understood needs.

5.

investigate the possibilities to create synergies

6.

develop measuring comparators / develop auditing procedures

7.

investigate means to make employment in the sector more attractive

8.

reduction and modification of the regulations

A number of these recommendations were reviewed in detail in the Steering Project "A Major Jump Forward".

I. The mission of the Steering Project The mission of the steering project has one important message: "With this project we want to lay the foundation for a further professionalisation of the sector by building a strong network, that will contribute to an upgrading of the business-economic image in the social profit sector."

further professionalisation With an eye to further similar successful steering projects, the steering project in East Flanders was put into a wider context:

The basic principle recognises that social profit

organisations be guided by 'counsellors', experienced business leaders from within the profit sector, to instil a more professional management approach. For this they base themselves on the following principle: Experience transfer from large to small in a continuous group in order to undergo in this way a total learning process. The business leaders from the profit and the social profit sector pass on their experience to the participants in the project. The exchange of experience does not necessarily mean that the participants can effectively apply this in their own company. Therefore EROV provides a more integrated approach for the social profit sector, wherein the steering project fits totally, by means of: entrepreneurship, balancing between social enagagement and management: pratical evidence

2

- A professionally supported management programme drawn from the evaluated management modules. This was carried out by professional presentations, case studies and debates, which took place during a theoretically supported session. The application of management techniques took place during work shops. - Examination of the social profit organisations which participated in the programme by means of questionnaires. - Individual and internal guidance of the participants during the programme based on the examination to provide backup for implementation - Further study and investigation for models and techniques in respect of the social profit sector - Working on image enhancement of the sector - Further working together with all persons involved in the sector: networking in order to achieve an efficient and effective expansion of the sector - An official recognition of the problem within the sector by working together with the province Proposed objective: admission of a number of organisations This pilot project is approved as a Steering Project by the Flemish Community for a period of 20 months, whereby 3 participating groups each with 15 social profit organisations and/or businesses (45 organisations in total) can enrol. In this first group there are not only pedagogical institutions and institutions for disabled people, and out-patient nursing services but also social economic projects such as social work units, sheltered work units, recycling centres. In short a balanced cross-section with which to start the programme. Wider objectives: interaction between the profit and social profit sector: long-lasting undertaking. The robust economic climate of the 90's has been unmistakably accompanied by a tendency to place an undertaking within a wider social perspective. This evolution has grafted itself upon the emphasis to quality. Today the entrepreneurs world resonates with terms such as “long-lasting undertaking” and “socially responsible undertaking” that the “bottom line” obtains a broader context: next to the financial profit for the shareholder (dividend), there are also the people and the planet which are an important focus points when judging an organisation. We now speak of the triple bottom line.

entrepreneurship, balancing between social enagagement and management: pratical evidence

3

At the same time we notice another evolution in the social profit sector. There we now hear, in more sectors, talk of: “policy plans”, “quality decrees”, … “professionalisation” or “attainment of purposeful and efficient results”. This evolution links up with a recent investigation that confirmed some strong shortcomings in the sector: a lack of insight into the real market needs, insufficient insight in the effectiveness of the conducted policy, a lack of measuring comparators, a lack of means and overheads… Maybe we raise our eyebrows when watching this evolution: is it dictated by market considerations? How long lasting is this evolution in respect to the evolutions in the economic climate? But even so, at least the discussion about long-lasting undertakings has earned its place in the field of entrepreneurship. Both shareholders can learn from each other by putting their experience, knowledge and skills next to each other and by searching for solutions for a quality leadership within their organisations.

II. Targeted group and participants' profile The project is aimed in the first instance at a wide cross-section of the social sector, which is not so easy to define. This is also evident in the investigation report (see: management in the social profit sector, July 2000), which also states that the sector is not so easily defined. This does not make it any easier, however, the report has taught us that we can separate organisations on the basis of a comparison between social and economic objectives.

In this respect, the report speaks of organisations with social objectives , organisations with social economic objectives and organisations with economic social objectives. The differences are ultimately in the subordination of the social objectives to the economic objectives in the light of the continuity of the organisation.  The social organisations with purely social objectives put the emphasis on a social problem. Staying within budget is paramount there being no other economic objective. Examples are : crisis remand centres for juveniles, ortho-pedagogic centres, homes for the disabled, centres for mental welfare, .. Typical for these institutions is that practically all of the finance is the responsibility of government and for a minimum percentage rely on the financial contribution of their own turnover. Their activity is based not on employment, not on production and/or trading activity (no profit earnings), but only on service and care provision for people in need within the social sector.  The social economic organisations strive toward social as well as economic objectives, but the social objectives have clear precedence over the economical. One should not reduce social entrepreneurship, balancing between social enagagement and management: pratical evidence

4

objectives in order to improve profits. An example of this are sheltered work units, the social work units, recycling centres. These organisations operate their work in a more supervised environment than is the case in a conventional production environment. In the thought process of permanent employment they offer compatible work to the less employable in order to improve their quality of life. These organisations differ from the conventional production orientated companies by their labour intensive and simple production processes. They achieve their turnover by increasing their production capacity which creates additional work places for less employable persons. This involves additional cost, i.e. the additional supervision required for these workers, whereby their own means are insufficient and as a result of this the authorities pay for salary subsidies.  The economic social organisations strive in the first place for profit and therefore they develop business style procedures within the social care provision for people. Think of hospitals, old people's homes, home help organisations…. The care provision is provided in a conventional productive circuit (with employees from the conventional work circuit) and offers the extremely demanding recipient a package of services that is embedded in the social security system. The core of their existence is not based on the care provision, but on the profitable sales of services or profit realisation. Until now the participants mainly belong to the social and social economic organisational types. Very rarely an economically based organisation within the social services put its name down to participate. The intake of the first groups is proportionally as follows: 60% of the organisations have purely social objectives, 37% are social economic organisations, 3% are economic social organisations. Let us also make the case here that the term “social profit” has clearly been chosen on account of the targeted group. As a result of this, emphasis is laid on the fact that social objectives have been striven for with the purpose of making a profit. By 'profit' we mean the realising of profit for the society or well-being, by stimulating welfare. The way attention is paid to acquiring means to guarantee continuity determines whether more economic objectives are being striven for. When explained further it will become clear that the financial aspect (tight / narrow economics) must always be represented. In the first instance it covers a programme which is intended for company managers or supervisory levels from the social profit sector, who's education did not follow economic disciplines. The subscribing participants followed an academic training in behavioural sciences such as ortho-pedagogy, social sciences, psychology (70%) at university level or extended higher education, rather than an economic education. entrepreneurship, balancing between social enagagement and management: pratical evidence

5

Because the changing markets necessitate other requirements of the organisations, the interest shown in the Steering Programme was extensive. Some of the most important reasons for participating are: 1. The thrust of amalgamations. A few years ago mainly hospitals and old people's homes amalgamated due to financial reasons. This trend is currently within vogue within the youth and disabled institutions, mainly because of the evolution within its targeted groups. 2. The imposed quality manual. The sheltered work units, remand centres for juveniles and homes for the disabled are obliged by the controlling authority (quality decree for health and welfare provisions) to complete the quality manual and to follow its instructions. This is directly linked to the allocation and payment of subsidies (disbursements and settlements).We see that with social economic projects the social work units and transition businesses have to submit a fully developed business plan.. Training centres commit themselves financially to the results based on the actual output of their trained operatives. 3. Other types of targeted groups. Due to restricted capacity and the changing factors of disease symptoms, disability etc., more attention must be given to differentiation, as a result of which other strategies become evident. 4. Change of authority and subsidy regulations.

All these factors contribute to reasons why strategic and financial policy should be handled with vigilance, which also has immediate repercussions on client perceptions. It is very clear that influential parties concerned with the social profit organisations find that this is a complex subject, which demands detailed attention and good preparation.

III. Operational workings of the Steering Project The steering project is made up of three elements which are presented as an integrated single entity: group sessions, mutual advice via counsellors and coordinator and training sessions. The group sessions take place under the guidance of the counsellors and a coordinator; the participants meet for 10 four hour sessions. The seminars or workshops cover various management topics which are relevant to the social profit sector. The advisory role in the steering project is fulfilled by the coordinator in co-operation with the counsellors. During the preparatory phase of the steering project, an introductory talk was held each time, during which the strengths and weaknesses of the participating organisation were discussed. The participant indicated for which module he/she wished to receive guidance.

entrepreneurship, balancing between social enagagement and management: pratical evidence

6

During the group sessions the knowledge transfer of the counsellors and the social profit managers is a very informative element for the participants. Most topics lead to an open discussion about individual experiences. It is clear from the evaluation of participants that the exchange and counselling is more interesting and enlightening to them than traditional (ex cathedra) transfer of knowledge. It remains a very important point that the applicability of the subject matter must be relevant. After the completion of the group sessions the participants receive a check list per management module, which assists them when applying their theoretical knowledge. Together with this, each participant establishes the outline of an actual situation, which entails specific advice. The problem is analysed and discussed with the counsellor. It consists of impartial advice, which can provide a possible solution to the problem. An example of a guidance index card can be found in the attachment. As well as the group sessions and the guidance, participants are invited to the training sessions which cover a wider range of topics. They also cover various trends and subjects which are currently relevant in the profit sector as well as in the social profit sector.

IV Transferability of management topics It is remarkable that many of the participants asked a number of similar questions during each management module. During the session the existing management models or techniques were related to the specific character of the sector.

In general specific line of topics were

discussed.

1. STRATEGIC THINKING  Most participants are confronted with an imposed strategy which they must evolve into a planned strategy, either market driven or competitive.

In this respect attention was paid to the drawing up of a SWOT analysis. The organisations were asked each time to describe 5 strengths, 5 weaknesses, 5 opportunities and 5 threats. On the basis of these descriptions, objectives and actions were formulated, linked to a deadline and a responsible person within the organisation. As an example the SWOT analysis (3 opportunities) of a social work unit focused on entrepreneur style analysis. Here we look only at the external analysis; more specifically the opportunities of the organisation.

opportunities a. Good commercial bio product b. Environment as a selling point c. Employment as care provision

entrepreneurship, balancing between social enagagement and management: pratical evidence

7

For each opportunity a short / medium or long term action has been noted. Short term actions medium term actions long term actions a.marketing marketing client orientated EFQM application b.marketing marketing / EFQM bio guarantee label c.social marketing

expansion of partnership

new project for women

A deadline, an objective and a responsible person is linked to every action. As an example, by the action: a. marketing objective: date: responsible person: b.EFQM objective:

date : responsible person:

to become better known by the consumer  turnover growth first review end 2004 coordinators from the departments and the management

better quality in production, contentment of the personnel and other stakeholders (society, authority, VDAB), more client orientated to become ultimately profitable end 2004 coordinators from the departments, personnel work group and risk inventory and risk evaluation work group and manager

c. bio label for the total organisation objective: additional employment may not be at the cost of the environment. See report of Rome which states that full employment would cause a global environmental disaster. We wish to participate in environmental recovery where possible and environmental friendly production over the complete range. date : to be achieved by 2005 responsible person: management work group

On the basis of this well defined procedure the technique of the SWOT analysis is applied and used to check the mission of the organisation and the strategy followed. In this way the participants question their current formulation of mission. There is a clear planned strategy present. On the one hand you recognise the opportunity strategy by going along with a number of chances which arise externally and contribute in the further expansion of the organisation. The introduction of the bio label is a clear example. As an example the mission of this social work unit: “We wish to operate in a profitable and sustainable manner with a stability and quality policy for a minimum of 40 low skilled, long term unemployed people. We strive in this respect towards a bio guarantee recognition for every department of the work place and an ecological approach for all other departments (management, kitchen, waste entrepreneurship, balancing between social enagagement and management: pratical evidence

8

treatment policy, usage of recycled elements,…)". A check was made to see if the objectives of the mission conformed with those of an acceptable mission. ('Bruggen naar de toekomst' – 'Bridges for the future' by professor A. Heene) “The mission is ultimately an important choice; surely it would be a lot easier for us if we extracted the ecology topic from it, on the other hand we would distinguish ourselves less from the other organisations, through which our competitive advantage is again threatened. Every decision is checked against the content of our mission.” The direction is clearly evolving whereby the choice is to be made for a combination of a market driven competitive strategy and an opportunistic strategy. From this we can conclude that the application of this technique is transferable and certainly useful to direct the organisation strategically.  Most social profit organisations have to take into account the imposed objectives from outside: expectations from the subsidising authority, the justification with regard to the society (social security system), the parents of the child, the Board of Directors , … How can you follow a strategy in a structured manner in the interest of and influenced by the parties which are involved? Therefore the requisite attention has been paid to the subject of stakeholders' management during the strategy session.

The participants noted their parties involvement and listed them in order according to value. This exercise is of great importance and is more or less the thread running through the whole course. The order of the "stakeholders" can vary according to the management module one concentrates on.

Example MATRIX stakeholders : On the basis of a good inventory of all of the parties involved (parties which have an interest in the existence of your organisation) the participant draws up a matrix whereby he stipulates the influence and the degree of importance of this party involved. This management tool provides a correct indication and evaluation concerning decisions which will determine the future of the organisation.

entrepreneurship, balancing between social enagagement and management: pratical evidence

9

Influence/ Importance Matrix 

High KEEP SATISFIED

MAIN PLAYERS

MINIMUM EFFORT

INFORMED

INFLUENCE

low



DEGREE of IMPORTANCE Low

high

As an example; the stakeholders' approach to a remand centre for juveniles Who are the most important stakeholders and what influence (power) do they have on the further existence of the organisation? clients: through their evolving questions for help employees: through their competence and effort federal authority: through regulations and subsidies federations: through representation and measures to aid the regulations and evolutions unions: through list of demands

diagram: the most important stakeholders of the remand centre for juveniles Stakeholder Importance Expectation

How

Return

Own objective

to answer

after the action

Achieve what with

Filling in of the

action

expectation Action 1. clients

Questions for Good intake –

Clients'

help

satisfaction

Follow-up of

Image

client 2. employee

Ambition

Training and

Full co-operation Good publicity

project space

(improving

Strengthen image

entrepreneurship, balancing between social enagagement and management: pratical evidence

10

projects and more Reputation initiative) 3. federal

Good use of

Reporting

Stable subsidy

authority

the subsidies

Measuring points flow

Possibilities for

Information flow

investment

(keep)

Continuity

recognition

If we place the stakeholders on the matrix, then they belong in the upper right hand box, i.e. the main players: the client is the reason for their care provision (reason for existence), the employee provides the quality of the care provision and the federal authority provides the financial means. 2.

PERSONNEL FOCUSED THINKING

The social profit sector has to contend with professional personnel, who make an effort for ideological reasons, but quit likewise due to the following reasons: financial dissatisfaction (dependent on the sector), emotional under heavy pressure and too large a workload within the social institutions. The problems which the participants wish to resolve have mainly to do with learning creative motivation techniques, burn-out symptoms, evaluation and competence. From the viewpoint of human resources and investment theories, the participant is the most important capital with which to achieve an organisation's objectives. Proficient management is an application from the profit minded sector with thinking focused consideration given to each branch of personnel: selection and recruitment, functionality and evaluation, remuneration and reward, motivation and training policy. During the sessions attention was paid to this technique by way of theory and with an exercise to prove the multifunctional use. The exercise motivates the participants to come up with a complete personnel team in regard to the future of the organisation. To illustrate this competence training an example is given for the function of educator, drawn up by a remand centre for juveniles. function:

educator

On the basis of a specific function within the organisation, the team wrote down the key tasks at an individual level, at a team level and at the organisation level. key tasks:

1. individual guidance for the youth 2. guidance for community group living together 3. good team member with respect to the other educators

For each of these key tasks it is best that the participant has a number of key competences at his disposal. For example, to give guidance to a youth in a remand centre for juveniles, the entrepreneurship, balancing between social enagagement and management: pratical evidence

11

educator must have the following competences at his disposal: empathy, observational capability and objectivity capability, respect, genuineness and equality and engagement. For each of these competences a scale of levels was defined and linked. This scale served as a parameter with which to evaluate the participant's functional behaviour, performance behaviour and development possibilities. In this way adjustments can be made through the development of individual and group training. The analysis and the development of competences provide that the personnel contributes more effectively to the realisation of the objectives of the organisation. This exercise is completed by each of the participating organisations by means of check lists. In this way the person responsible for the personnel has an integral tool at his disposal, which acts as a directive for each phase of the personnel guidance. From this viewpoint, proficient management competence is a suitable methodology to apply in the social profit organisation.

3.

FINANCIAL THINKING

In respect of financial management the group can be split up into two main parts: The organisations that are mainly dependent on subsidies (±90%) and a small percentage on other means (gifts, sponsoring, sales promotions). The payment of the subsidies takes place through means of a system of deposits and daily costs deductions. Here we speak about the real social institutions (supra classification) e.g. remand centres for juveniles, institutions for the disabled, mental health centres, training centres.

Then there are the organisations that are dependent on subsidies for ±60% of their finance (remuneration subsidies) and for the remaining ±40% it is raised from their own turnover, through production and sales. Primarily these are sheltered work units, social work units, some training centres and transition businesses who try to strive to expand their own turnover.

This means that these organisations are rarely ever confronted with a profitability problem, because the finance provisions are granted on the basis of the actual resulting costs. Their greatest concern in this respect is to break-even and to ensure that there are sufficient reserves in the case of an emergency. A positive profit is of course the most favourable situation. The question is, do the social profit organisations benefit from the financial ratios which the conventional businesses use to measure their financial structure.

A more sound basic

principle is that they must strive towards a more independent financial position. This can be realised among others by requiring at least that the current gross profit experiences a stable, entrepreneurship, balancing between social enagagement and management: pratical evidence

12

positively evolving trend over the years. The current gross profit = current results (company results) + debts + provisions – debit of the subsidy. The financial profitability ratio can be a warning light, but doesn't say everything about the financial health of the business.

For the 'healthiness', or the healthy turnover structure of the organisation, it is best to look at its solvency. This indicates whether or not the organisation is able to meet its debts. An organisation is thought solvent when its internal capital (IC) is greater than its external obligations (EO), or in other words when the solvency ratio IC/EO > 1. The reasoning hidden behind this norm, is as follows: suppose that the organisation involved cannot meet its debts and that in the worst case goes into liquidation.

Therefore, the solvency of the non-profit

organisations should pay attention to the question how much time will be needed to pay back loans with its generated cash flow. The usual solvency ratios were extensively dealt with during the workshop on financial consideration. The insight provided by the ratio internal capital / external obligations, the financial debt level and the nett business capital is after all very essential in determining the capital mix for certain investments.

The liquidity question is under discussion within the social profit organisations. Here a check is made on how far the invoices have been settled on time, as well as the running credit without exceeding the credit facilities . In other words can everything be paid in order to keep operating on the means available or on the liquidity. For this it is best if one uses the usual acid test e.g. the claims on KT and the available means in relation to the short term debts (> 1 sufficient capital to pay off short term debts). Within the framework of the new VZW regulations and the financing problems, it is important to pay close attention to the credit discussions, various credit options and types, the analysis of the annual accounts. The balance between the capital flow and the financial results are a fundamental requirement for obtaining credit from financial institutions.

During the introductory talks it was patently clear that above all the non-profit organisations are searching for another way of financial thinking. They are preparing for switching over from a subsidised system, whereby the actual incurred costs are settled on completion, to a system, where their client is allocated a financial amount according to his/her problems. This means that the client him/herself will also make a choice from the care services available within the care providers' market. The cost price calculation and therefore as a consequence, entrepreneurship, balancing between social enagagement and management: pratical evidence

13

the day rate for the care provision must be calculated beforehand. Service/price differential is a new concept within the sector.

The proposed cost price calculation is based on the ABC

principle, in a simplified form, a manageable cost calculating system. During the session a case study was completed on the basis of a MPI, whereby it was demonstrated that the activity based costing system offered a solution for the complexity of various departments and for the diverse costs of therapies. 4. COMMERCIAL THINKING Here it was also stated that the management module split up the group into sub-groups: the non profit institutions and the social economic organisations. The non profit sector currently is undergoing a metamorphose towards a more question orientated approach. This means that the organisations pay more attention to marketing and public relations regarding their care services. For them this subject is fairly new. Whereas the social economic projects have been working for a long time with marketing and PR because of the sale of products. At a final session of the steering programme, these management modules presented a good summary with, as points of view, "the customer" and the "participant". The market in which we find ourselves is a people orientated sector, whereby: 

the client, the targeted group, stands in the spotlight



the quality of the care service is dependent on the performance of the work carried out by the personnel

Marketing can, in general terms, be described as follows: " all activities that are developed to produce an easier throughput to the end user". The application of marketing is necessary if the market mechanism e.g. supply greater than demand is correct. That is the case for groups containing the social economic organisations. In the non-profit sector we find ourselves in a situation whereby the demand is greater than the supply. The waiting lists for the remand centres for juveniles and disabled homes is proof of this. Is marketing then necessary? Marketing then in this case is perhaps a less suitable term. This doesn't mean that the organisations do not need to think in a market orientated way. During this module a planning process which can be applied by organisations which already are currently active in marketing, as well as by organisations which still have to start, was suggested. The proposed step by step plan consists of 13 subsections, wherein are contained the 6 main phases from Ph. Kotler. The participants receive an assignment based on recently completed exercises such as SWOT, environmental analysis, stakeholders' model, as well as to complete the step by step plan. Within the total thought process concentration is given to establishing entrepreneurship, balancing between social enagagement and management: pratical evidence

14

firm and simple to do tips, which take into account the character of the social profit organisation as, for example: - application of internal marketing for use as the basis for public relations - application of relationship marketing as a subsection of public relations - communication methods to create a public mindset - how to simplify fundraising and sponsoring Eventually we come also to the conclusion that concepts from the profit sector are usable, but from a different view point and with other accents. Marketing as a concept and as a planning device does not attract great popularity within the social profit sector. Therefore we have to work further on the concepts and applications; specific characteristics of the social profit organisations.

V. Perspectives of the steering project "management development and support for the socio project" On the basis of evaluations made by the participants one can generally conclude that the concept is an efficient method on the road towards professionalism. The end result is a more integrated adaptation of the steering format, which ensures that the received knowledge is applied effectively and continuously in the social profit organisations.

The evaluations

showed that the following points produced a very positive experience: the professional presentation of management topics, the steering members as a fallback base and thought exchanging, the experience exchanging stimulated mutual working, the practical training and assistance with helpful advice during implementation and the demand for networking. The great challenge for the sector is in still finding the right management technique for the social profit sector. With the conviction that further management development in the social profit sector leads to professionalism and continuity in this form of entrepreneurship, then this project is certainly a step forward.

VI Sources and references

entrepreneurship, balancing between social enagagement and management: pratical evidence

15

The information in this paper is based primarily on the contribution made by expert speakers from the worlds of business leadership and academia. The illustrated examples are the practical application of the utilised theories as applied by the organisations themselves. The coordinator has made use of: check lists, assignments, interviews and case studies in combination with the programme itself.

REFERENCES Landuyt, I. "comptentiemanagement als integrerend instrument voor het personeelsmanagement", competentiemanagement, pg.104-109 (WES Onderzoek & Advies) Heene, A. "Strategisch management voor de social profit organisaties", – Universiteit Gent – UAMS Greenwood, M.

"The importance of stakeholders according to business leaders",

Business & Society Review v.106 no 1 (2001) pg.29-49. Jorissen, A. "Boordtabellen in de social-profitsector: een zinvol instrument of een dure luxe?", sociaal jaarboek, (2001), pg.57-64. Nicaise, I. "Financieel beheer van non-profit organisaties", cursus van de sociale hogeschool Heverlee. Mc Guire, L., " marketing in the public and non-profit sector', paper presented tot the panel on at the 6th International Research Symposium on public management, university of Edinburg, Scotland, 8-10 april 2001. Monash Unisversity, faculty of business and economics. Peeters, L., Matthyssens P., Vereeck L."Stakeholderenergie", Vlaams Wetenschappelijk, Vereniging voor Economie, 25ste Vlaams wetenschappelijk economisch congres,14 maart 2002.

entrepreneurship, balancing between social enagagement and management: pratical evidence

16