In the introductory part, it is planned to give general explanations of the social economy and its role in the business world. It is necessary to underline that people cannot stop improving their skills, introducing new activities, and evaluating the already achieved results. The work of Polanyi serves as evidence to prove that “no society could, naturally, live for any length of time unless it possessed an economy of some sort” (43). Profits and stakeholders should not be defined as the only influential factors in organizational development. The environment, culture, and social relationship contribute to the creation of the social economy that covers the needs of society and operational costs (Hossein 2). The Miziwe Biik case about a microfinance program proves the worth of social and economic safety in organizations. This paper analyzes this organization, the role of a racialized leader, and the expectations of marginalized people on the basis of the Miziwe Biik microloans. Social economy organizations minimize the socio-economic gap, improve Aboriginal identification, and harmonize interpersonal relationships led by a person of color in order to reach marginalized populations locally and recognize their social and financial needs.
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Social Economy Organization
The first argument of the paper focuses on understanding the essence of the social economy and its role in the promotion of innovative business. The Canadian perspective will be taken into consideration as this area is full of good examples of how Aboriginal people strive for success in organizational development. The Miziwe Biik Aboriginal Employment and Training Center is used as a non-profit company that aims at addressing training and employment needs (Foster et al. 75). The creation of a microfinance program “in response to the need of financial inclusion of marginalized populations” was one of the achievements for analysis (Foster et al. 76). In the discourse of modern governance, the worth of shared responsibilities and collaboration in public, private, and voluntary sectors must determine complex social and economic issues (Laforest 13). The chosen social economy organization will show how the Aboriginal people could be challenged as the representatives of marginalized populations. About 50% of people remain poorly educated, which results in increased poverty, unemployment, and urbanization (Foster et al. 77). A social economy organization reveals all these problems and units them within one particular business platform.
Another important sub-argument of the project is the identification of how the social economy influences a non-profit organization and all the stakeholders involved in its activities. Quarter et al. explained the social economy as a concept with common social goals of an organization oriented on its mission and practice and its economic objectives or value through the offered services (4). It is expected that a properly developed company should meet the standards of business, as well as of social life. In the 21st century, social activities include polity, religion, science, technology, family, and the law (Granovetter 136; Rostow 4). In addition, the Canadian perspective is frequently associated with indigenous entrepreneurship. Therefore, the incorporation of traditions, values, and cultures cannot be ignored (Henderson 242). The analysis of a social economy organization should focus on its ability to enhance human capital and respect the cultural background, social support, and traditional values. Marginalized communities are not able to deal with their problems if society and the government fail to discuss them locally or internationally.
The efficiency of the Company Led by a Person of Color
Another aspect of the paper is to identify internal and external factors that determine the quality and organization of work. Ethnicity is one of such factors that is defined as group identification or “a sense of belonging to a people that is experienced as a greatly extended form of kinship” (Chua 14). When a company is led by a racialized person or a person of color, new demands and expectations may be imposed from the point of view of the social economy. The interests of one group of people (similar to the leader’s color) can prevail over the interests of other representatives. In their investigation, Hossain and Sengupta evaluated the BRAC model as one of the examples of how hierarchical relationships between the people of different cultural and racial backgrounds and proved the presence of distinctions between the people of color in business (36). The social economy principles cannot be ignored, but it is also necessary to use available priorities and strengthen the positions of marginalized people.
The role of leadership in the development of a social economy organization will be a critical aspect of the discussion. In the case study, the questions of ethnicity and race were properly introduced. The authors underlined that the “growth in Aboriginal identification had been credited to a renewal of ethnic pride” (Forster et al. 78). The goal to decrease the socio-economic gap between Aboriginals and non-Aboriginals was defined, and the presence of a non-profit Aboriginal-oriented company as a leader was the reason for such achievements. It is necessary to underline that when a person invests in a company, he or she becomes personally liable for all potential risks and benefits (Bakan 11). A leader of the color cannot neglect his or her responsibility to create equal opportunities for all the employees and clients. At the same time, the presence of the social economy factor assumes the necessity to support a particular group and enhance its physical, social, and economic needs. An understanding of such requirements as sustainability and value maintenance plays an important role in the promotion of efficient and socially equal organizations.
The tension of the Organization with Marginalized People
Finally, despite the existing benefits of a social economy organization, the analysis should also include some tensions. In the workplace, marginalized populations face such problems as low self-esteem and physical, substance, or emotional abuse (Forster et al. 78). There will always be people who are excluded from social, economic, or cultural life because of different reasons. To earn a living, these people must participate in internalized local economies to fight social and economic exclusion (Hossein 2). In the Miziwe Biik program, the interests of marginalized people are underlined because many Aboriginal groups in Canada have to prove their rights and opportunities in a constantly developing business world. Some tensions may occur due to religious factors, racial differences, and cultural backgrounds. Therefore, the worth of the Miziwe Biik project is underlined in this written assignment as it creates additional chances for people to be trained and skilled enough for the necessary jobs.
The next point of the analysis includes characteristics of social economy organizations. There are four common features to be considered: social objectives, ownership, volunteering, and civic engagement (Quarter et al. 12). On the one hand, the possibility to reach marginalized people is a great opportunity for leaders to remove biases and expand responsibilities due to socially equal missions. On the other hand, the presence of a leader of color in a company may provoke additional concerns and prejudice about the treatment of other groups and the evaluation of their work quality. It is important to admit that each group has its rights and interests, and each company is free to hire people of different races, ethnicities, gender, and age. However, as soon as one person gets a possibility to be hired, another man or woman loses this opportunity. As a result, the mission to provide all people with equal offers is questioned in social economy organizations.
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In general, the goal of this paper to analyze a social economy organization that is led by a person of color and reaches marginalized people is met. Compared to ordinary business companies, social economy organizations have to combine the social, economic, and cultural needs of people and create appropriate working conditions. The task of social economy organizations is to solve the problem and invest their powers properly. The case of Miziwe Biik is one of the examples that prove the existence of unequal treatment and opportunities for Aboriginal people and the role of a leader. If a leader is a representative of a particular color group, it is expected to evaluate his or her responsibilities and underline the impact of activities on the company. Marginalized people are able to define their roles and contribute to the development of equal rights within the chosen company. Interpersonal relationships, socio-economic gaps, and the interests of particular groups are proved to be integral in the discussion of the social economy in the modern business world.
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