The Churches’ Mutual Credit Union is due to launch in September 2014, a legal entity separate from the Church of England but set up by Anglicans following the Archbishop of Canterbury Justin Welby’s attack on payday lending firms in 2013. In addition to such businesses, other charitable operations such as food banks can be described as social enterprises, along with non-faith philanthropic ventures such as the chef Jamie Oliver’s Fifteen restaurant chain, which employs disadvantaged young people.
Spreckley also went on to develop the concept of ‘triple bottom line’ accounting, also known as social accounting. Traidcraft has been producing social accounts since 1994, the first plc to do so[20]. This striking management tool is still in its infancy compared to other accounting practices, but this paper concludes by stating that it has some of the greatest potential for transforming the management of church organisations.
References
[1] BBC News 2013 ‘Wonga row: Archbishop of Canterbury ’embarrassed’ over Church funds’ 26 July 2013 www.bbc.co.uk/news/business-23459932
[2] See for example the Spanish co-operative Mondragon, page XXX below.
[3] Examples include Luke 22:26, Mark 10:42-45 and John 13:12-15.
[4] See for example A Britton (2002), Economics and the Church of England, Journal of the Association of Christian Economists, Issue 31 (ISSN 0956-3067)
http://christian-economists.org.uk/jour_31.pdf, who writes “The synodical system, together with the responsibility of church leaders to it, is a conscious imitation of the relationship of Government to Parliament. Bishops are encouraged to think of themselves, in some contexts, as Ministers, whilst church officials behave very like civil servants.”
[5] See in particular Stephen F. Copp (2011), A Theology of Incorporation with Limited Liability Reaffirmed, The Journal of Markets and Morality, Vol 14, No 11 http://www.christian-economists.org.uk/DP009%20Copp%20Limited%20Liability%20Reaffirmed.pdf, where he argues that companies can be seen as the Biblical idea of incorporation translated into a secular context.
[6] Adrian Ashton (2009), Social Enterprise: The ‘holy grail’ of business models, Faith in Business Quarterly Journal, Vol 12 No 4
[7] Mary D Lobel (1933), A detailed account of the 1327 rising at Bury St Edmunds, The Suffolk Institute of Archaeology and History, Volume XXI Part 3 pages 215 to 231
[8] Gabrielle Lambrick (1964), Abingdon and the Riots of 1327, Oxoniensia volumes 1964-5, page 129
[9] Ashton (2009), page 13
[10]See the chapter ‘The Society of Friends and business culture, 1700-1830’ by Ann Prior and Maurice Kirby, in David Jeremy, ed. (1998), Religion, Business and Wealth in Modern Britain, page 117
[11] http://www.quakersintheworld.org/quakers-in-action/271
[12] Everett E. Hagen (1962) On the Theory of Social Change, quoted in David Jeremy, ed. (1998) Religion, Business and Wealth in Modern Britain, page 17
[13] John Thompson and Bill Bolton (2007), Entrepreneurs, page 68
[14] Peter Davis (2006), The Co-Operative, Catholic Social Thought and the Good Company. The Importance of Pluralism in the Market. Paper published by the University of Leicester
https://www2.le.ac.uk/departments/management/documents/research/research-units/umbo/catholic.pdf
[15] Donald A. Hay and Alan Kreider (2001) Christianity and the Culture of Economics, page 57
[16] David Jeremy, ed. (1998), Religion, Business and Wealth in Modern Britain, page 23
[17] Mail on Sunday (2013) http://www.dailymail.co.uk/news/article-2509376/Co-op-bank-boss-Paul-Flowers-suspended-Labour-drugs-scandal.html
[18] http://socialbondinvestor.com/all-you-need-to-know-about-social-enterprises/
[19] https://www.churchofengland.org/our-views/home-and-community-affairs/home-affairs-policy/work-and-the-economy/creditunions/creditunionshow-churches-can-help.aspx
[20] Simon Lee (2009) Faith-Based Enterprises: Making the link between Faith and Enterprise, Faith and Business Quarterly Journal, Vol 12, No 4, page 15
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