A strong social and environmental mission drives social enterprises. Little is known, however, about how a social enterprise organizes its activities to deliver social value without compromising its financial stability, especially in emerging countries. This study suggests a conceptual framework to analyze the process through which social enterprises can deliver social value to end users within a specific space and time and calls for further empirical studies. The study argues that designing and delivering social value take place within a process of assemblage. The personal traits of the social entrepreneurs influence the content of the social mission of their social enterprises and their operationalization. To be successful, social enterprises must operate in a less constraining socioeconomic environment and receive appropriate institutional and social support from surrounding stakeholders. Social value is thus linked to well-being, which consists of self-reported happiness and satisfaction. The study contributes to a growing literature on the roles of social enterprises in social value creation, well-being, and sustainability in emerging countries.