Glossary:
8. Introduction to Social Economy
| Term | Definition |
|---|---|
Associations | Associations are non-profit legal entities based on a membership model that can perform economic activities under condition that they do not distribute any profit to their members. Associations are active in all EU Member States and can serve a multitude of purposes including collective, social purposes and public benefit. |
Cooperatives | Autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled organisation. |
Economic Growth | The expansion of the output of an economy, usually expressed in terms of the increase of national income. Nations experience different rates of economic growth mainly because of differences in population growth, investment, and technical progress. |
Foundations | A foundation is a non-profit organization that supports charitable activities in order to serve the common good. Foundations are often created with endowments -- money given by individuals, families or corporations. |
Mutuals | Mutuals are organisations providing life and non-life insurance services, complementary social security schemes, and small value services of social nature. Their primary purpose is to satisfy common needs rather than making profits or providing return on capital. |
Social Economy | The social economy covers entities sharing the following main common principles and features: the primacy of people as well as social and/or environmental purpose over profit, the reinvestment of most of the profits and surpluses to carry out activities in the interest of members/users (“collective interest”) or society at large (“general interest”) and democratic and/or participatory governance. |
Social Enterprise | Social enterprises are entities that operate by providing goods and services for the market in an entrepreneurial and often innovative fashion and in accordance with the principles and features of the social economy, having social and/or environmental objectives as the reason for their commercial activity. |
Social Entrepreneurship | Social Entrepreneurship addresses pressing social challenges and meet social needs in an innovative way while serving the general interest and common good for the benefit of the community. |
Social Inclusion | Social inclusion is defined as the process of improving the terms of participation in society, particularly for people who are disadvantaged, through enhancing opportunities, access to resources, voice and respect for rights. |
Social Innovation | Social innovation are new ideas that meet social needs, create social relationships and form new collaborations. These innovations can be products, services or models addressing unmet needs more effectively. |
Sustainability | The ability to meet the needs of the present without compromising the ability of future generations to meet their own needs. |
Sustainable Development Goals | Global goals set by the United Nations to address social, economic, and environmental issues that address the needs of the present without compromising the ability of future generations to meet their own needs. |
