Exploring Corporate Social Responsibility and The Important Role it Plays in Entrepreneurial Start-Up Businesses
KeywordsCorporate Social Responsibility
entrepreneurial start-up businesses
Entrepreneurial and Small Business Operations
Full recordShow full item record
AbstractThe purpose of this Capstone is to examine the concept of Corporate Social Responsibility (CSR) and the role it plays in entrepreneurial start-up businesses. The paper introduces a more inclusive definition of the concept – Positive Impact Business Social Engagement. It explains the five facets of social responsibility and examines the impact of social responsibility on major business disciplines. The benefits and disadvantages of social responsibility are analyzed, and the financial performance of socially responsible companies is compared to S&P500 performance. Social responsibility in the start-up world is addressed and is contrasted with established large corporations. The characteristics of social entrepreneurs and commercial entrepreneurs are compared as well as how the management styles of entrepreneurial CEOs impact the social responsibility aspects of their ventures. The integral connection between public policy and CSR will also be discussed. The Capstone will conclude in support of start-up businesses choosing to be socially responsible explaining how social responsibility can be implemented in initial business models for future organizational success that satisfies all stakeholders. Lastly, the Capstone reflects on the experiences of the author as he developed a start-up business while at the Whitman School.