社會企業被普遍視為一種新型態、財務獨立的組織，為許多像是貧窮、環境汙染等的社會議題提供創新、有效的解決方案。與大多數的非營利組織一樣，社會企業主要是受到其社會使命所驅動而成立的企業組織；但與非營利組織不同的是，營利活動在社會企業中是被視為達成所有權自主、財務獨立和創造永續社會價值所必要施行的手段與過程。
本研究聚焦在探索社會企業價值創造的過程。本研究首先從過去相關的文獻歸納、整理出社會企業價值創造的概念性架構。接著再將此概念架構應用在本研究所挑選的研究個案：黑暗對話社會企業股份有限公司，並檢視黑暗對話社會企業為其相關的利害關係人創造共同價值來幫助社會企業達成社會使命的過程。
從個案分析中，本研究發現價值主張 (value proposition) 與價值創造過程(value creation process) 的兩個概念在探索社會企業價值創造的過程中扮演相當重要的角色。本研究認為，社會企業必須要依照組織的操作模型 (operational model) 從員工、顧客、投資人、其它利害關係人中排序其重要程度，再提出符合彼此需要的價值主張。接著透過各價值主張的實現 (本研究定義為價值創造過程)，來穩定社會企業的組織營運，並在這一來一往互動的過程中，取得許多來自利害關係人的市場資源與非市場資源 (market and non-market resources) 來幫助其創造更大的社會價值。
透過探索社會企業價值創造的過程，本研究希望可以幫助社會創業家透過瞭解社會價值創造的過程來為社會創造更大的社會價值。

Social enterprise is widely viewed as the new form of a financially independent organization providing innovative, effective solutions for a variety of social issues such as poverty and environmental pollution, etc. Social enterprise is mainly driven by its social mission like most of non-profit organizations (NPOs). However, the profit-making activities are the necessary process for social enterprises to reach autonomy, financial independence and thus generate sustainable social values.
The aim of this research is to explore the value creation process of a social enterprise. This research firstly proposes a conceptual framework of value creation of social enterprise based on the previous literature. Then a case study will be conducted applying the conceptual framework to examine how the targeting social enterprise, Dialogue in the Dark TPE (DiD TPE), creates collective benefits for each key stakeholder in order to achieve its social mission.
From the case study, this research found the concepts of value proposition and value creation process play pivotal roles. This research argues a social enterprise needs to prioritize the importance of its stakeholders from employee, customer, shareholder and other key stakeholders based on its operational model, and proposes favorable value propositions. Next, implement actions through what this research defined as “value creation process” to stabilize the business operation. From the dynamic interactions with each stakeholder, a social enterprise could successfully mobilize different market and non-market resources to generate greater social value.
By the exploration of the value creation process of a social enterprise, this research tempts to assist social entrepreneurs to generate greater social values.

中文摘要(Chinese Abstract) ii
Abstract iii
1. Introduction 1
1.1. Background 1
1.2. Research Questions 3
2. Literature Review 5
2.1. Defining Social Enterprise 6
2.2. The Operational Models of Social Enterprise 13
2.3. The Development Background of Social Enterprise 22
2.4. Business Model of Social Enterprise 26
2.5. Social Enterprise in Taiwan: From NPO to Social Enterprise 33
2.6. The Conceptual Framework of Value Creation of Social Enterprise 41
3. Research Method 47
3.1. Research Procedures 47
3.2. The Case of Research 48
3.3. Data Collection 54
3.4. Data Analysis 57
4. Results 59
4.1. Value Creation for Employee 61
4.2. Value Creation for Customer 70
4.3. Value Creation for Shareholder 84
4.4. Value Creation for Other Key Stakeholders 87
5. Conclusion and Implications 92
5.1. The Key Stakeholders in the Operation of Social Enterprise 92
5.2. Value Creation of Social Enterprise 93
5.3. Other Factors on Value Creation of Social Enterprise 95
5.4. Limitations and Future Research Suggestions 98
References 99
Appendix 106

In Chinese
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陳金貴 (2002)。非營利組織社會企業化經營探討。新世紀智庫論壇，19，39-51。
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蔣筱鈺、謝邦俊 (2014)。與黑暗對話1000日：社會企業經營實務三年初體驗。臺北市：財團法人愛盲基金會。
蕭新煌 (2009)。非營利部門在台灣的發展特色，非營利部門：組織與運作。台北： 巨流。
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