Managing Mission Drift In Social Business Hybrids : An Exploratory Study On Strategies That Employees Of Social Business Hybrids Apply To Mitigate The Risk Of Mission Drift

Abstract: Background: Rising global uncertainty and volatility have changed how businesses envision themselves and their future. Particularly Social Business Hybrids emphasize the importance of purpose beyond profit. Their aim is to develop a more inclusive and green economy by pursuing and creating both financial and social value. This aim, however, comes with the risk of mission drift, meaning that the organization could prioritize one value at the expense of the other. As this is an emergent strategic dilemma in the field of social entrepreneurship, it is prudent to find ways to manage the risk of mission drift. In this context, considerable attention has to be given to the question of how employees of Social Business Hybrids manage the risk of mission drift, as their viewpoint has mostly been neglected by prior scholarship. Purpose: The purpose of the present study is to provide an understanding of why the management of mission drift is relevant for Social Business Hybrids and to give new insights into perspectives that employees of Social Business Hybrids have towards tactics and strategies that support successful management of mission drift. By researching the critical role that employees play as stakeholders in the context of mission drift management, we aim to enrich current literature by deriving new insights into strategies that can help Social Business Hybrids successfully balance their dual objectives. Method: This study is based on: Qualitative, inductive research; Ontology – Relativism; Epistemology – Social Constructionism; Methodology – Grounded Theory; Data Collection – 12 semi-structured in-depth Interviews; Sampling – Purposive, Snowball; Data Analysis – Grounded Analysis  Conclusion: In our findings, we ascertained distinct sources that anticipate a risk for mission drift. Further, we identified detailed tactics that can significantly support the management of mission drift. Finally, resulting from the findings, a framework was developed, that proposes five distinctive overarching strategies, which are enabled by two underlying mechanisms that employees in Social Business Hybrids apply to manage mission drift.