Social Entrepreneurship of the Buddhist Tzu Chi Movement
Social Entrepreneurship of the Buddhist Tzu Chi Movement

Summary/Abstract: This paper studies the phenomenal contribution of the Buddhist Tzu Chi Movement from the perspective of economics by focusing on entrepreneurship, which aspires to alter an unpleasant or unjust equilibrium and serves as an indispensable role in the market economy. From the viewpoint of the entrepreneurial process - consisting of opportunity discovery, institution organization, and resource mobilization - I analyze the burgeoning growth and scaling up of the Tzu Chi Movement. I illustrate three distinct factors contributing to the competitive advantages of the Tzu Chi Movement: charismatic leadership, effective organizational management, and incessant support. I also raise imminent challenges that lie ahead, such as issues in expanding to be a global religion, adopting strategic management, and bracing for succession.

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