Should We Require Every New Venture to Be a Hybrid Organization?

Critics of entrepreneurial capitalism have argued that entrepreneurship creates dysfunction in individuals, families, communities, and society because entrepreneurs neglect social and environmental dimensions of value in favour of financial value creation. By way of contrast, hybrid organizations, s...

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Bibliographic Details
Published in:Journal of management studies 2016-06, Vol.53 (4), p.630-662
Main Authors: McMullen, Jeffery S., Warnick, Benjamin J.
Format: Article
Language:English
Subjects:
blended value
Boundary conditions
Capitalism
corporate social responsibility
Criticism
Entrepreneurs
Entrepreneurship
hybrid organization
Social entrepreneurship
Studies
sustainable entrepreneurship
triple bottom line
Value chain
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Summary:Critics of entrepreneurial capitalism have argued that entrepreneurship creates dysfunction in individuals, families, communities, and society because entrepreneurs neglect social and environmental dimensions of value in favour of financial value creation. By way of contrast, hybrid organizations, such as Benefit Corporations, are created explicitly to address social and environmental objectives in addition to their financial objective. Therefore, in this paper we explore the consequences of a world of blended value in which every new venture is required to be a hybrid organization. In doing so, we reveal the boundary conditions of current social criticism levied against entrepreneurship and suggest that blended value may best be relegated to the role of ideal or guideline as opposed to normative or legal obligation.
ISSN:0022-2380
1467-6486
DOI:10.1111/joms.12150