DefinePK

Abstract

This study highlights a significant trend among nongovernmental organizations (NGOs) in coping with the challenges they frequently face. Across the world, many NGOs are increasingly transforming into social enterprises. The core reason for this shift is the chase of self-sustainability, particularly financial sustainability, to achieve their long-term objectives of sustainable socioeconomic development. Through a literature review and case study method, this study explores the reasons behind these transformations and NGOs' innovative strategies. The research also emphasizes the institutionalization process, examining the needs, challenges at various stages, and opportunities NGOs encounter. To provide more precise insights, this study presents brief case studies of three renowned NGOs from different countries that have commercialized their activities by offering various revenue-generating products and services. Based on a detailed study and the concepts presented, the research recommends several policies to governments, stakeholders, and other concerned bodies. This simplified concept will help readers, concerned stakeholders and scholars understand this area better and add valuable knowledge.