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This chapter explores the theory and practice of strategy that social entrepreneurs deploy to run their ventures in a sustainable way. A critical link between strategy and practice of social enterprise is discussed in detail in this chapter. The chapter focuses only on the strategic management framework and adapts it to include business analytical tools that social entrepreneurs use such as TOC, ABCD, Forms of Capital, SROI, etc. Social entrepreneurs run businesses to generate earned income and reinvest profits back into the business for a social purpose rather than for personal gain like an entrepreneur. Social enterprises include and mean different things to different people, they include a spectrum of trading organisations, such as cooperative societies; charities involved in a trading activity like charity shops; civic enterprises set up by local governments; credit unions and microcredit organisation run by social entrepreneurs. SE missions and characteristics enable them to be very attractive to the public and stakeholders.

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This paper is one of the first attempts to address the fundamental barriers to the adoption of online crowdfunding mechanisms in a developing country by offering a new online/offline fundraising model. The focus is on Nigeria as a typical example of an environment that, unlike that in the developed world, is not fully conducive to social networking as a crowdfunding platform due to both economic and technological issues. Using a mixed research method, the study first compares the state of the art in crowdfunding in a developed and developing economy by interviewing two groups of 20 entrepreneurs from the UK and Nigeria, respectively. The differences between those in terms of crowdfunding facilitation are identified, and propositions for the Nigerian market are formulated. These are then tested statistically by surveying 160 randomly selected Nigerian fundraisers. Based on the outcomes of the thematic analysis and statistical modelling, a unique integrated online/offline crowdfunding model is proposed. It is particularly aimed at supporting entrepreneurial activities and related policymaking that can have a key impact on further social and economic development of these countries. The proposed model can be considered as an alternative novel fundraising instrument in regions where socioeconomic and technological challenges inhibit the adoption of traditional crowdfunding approaches.