Not for profit?
I wonder if there is any chance we could stop using ‘not for profit’ to describe a type of organisation. I know people sometimes say that this is short hand for ‘Not for profit distribution’ but leaving aside all the questions this would raise, it still leaves the more fundamental problems unresolved.
Firstly it is not very inspiring to describe organisations by what they are not.
Secondly ‘not for profit’ is the same as ‘for loss’.
Thirdly it is a reason not to address the far more important question which would come from a change of name.
So how about For Social Profit (FSP). Or for those who don’t like the word profit, as in ‘to profit at someone’s expense’, For Social Value (FSV).
These names would help us focus on the main purpose – creating social value – and help us to think about how we can create more value with the resources at our disposal.