Benefit Corporation As A New Organizational And Legal Form Of Socially Responsible Entrepreneurship

The change in the landscape of social entrepreneurship caused by the exogenous factors was proved, in terms of the neo-institutional theory, to have caused the necessity of their internalization. These tendencies became apparent in the development of new hybrid forms of organization, particularly the benefit corporation. Based on the review of the literature, the reasons, why social entrepreneurs consider benefit corporations to be an attractive form for the realization of corporate social responsibility, namely: formulating and securing a dual mission, enlargement of financial flows, improvement of corporate branding and ensuring sustainable development, have been discussed. The main characteristics of the new organizational form of social enterprise have been examined and the most important of them have been emphasized: the capability to achieve financial and non-financial targets simultaneously, broadening of directors' fiduciary duties, transparency and accountability.