Towards A Meaningful Social Enterprise: Key Elements and A New Perspective

Social enterprises (SE) represent a distinct approach within the economic framework by ‎prioritizing social values such as social welfare, justice, sustainability, and economic ‎well-being dimensions often marginalized by state policies or market mechanisms. ‎However, variations in the diverse interpretations and implementations of SE have ‎created a fragmented landscape, potentially limiting their strategic impact. This study ‎aims to clarify the conceptual foundations and practical orientations of meaningful SEs ‎to enhance their role in social innovation. Using a qualitative research design, this study ‎integrates extensive literature review with an analysis of Indonesia’s legal framework on ‎SEs and in-depth interviews with 20 SE practitioners operating in environmental ‎sustainability, community empowerment, indigenous economic development, and ‎women's economic participation. The findings reveal four foundational principles of a ‎meaningful SE: lifelong learning, innovation, adaptive capacity, and social action. ‎Furthermore, five critical dimensions are emphasized to reframe SE paradigms: the ‎interaction between market and non-market mechanisms, integration within state-‎business-society relations, disengagement from dominant paradigms, and the ‎significance of immaterial value creation. This study contributes to advancing SE theory ‎and practice by proposing a more inclusive and transformative framework that ‎reinforces the role of SEs in its societal impact‎.