This book addresses the dilemma that firms face in engaging in corporate
social responsibility (CSR) while maintaining a financially sustainable
business model in the era of digital transformation. Several strategies
that firms have taken to integrate CSR within the business model are
also highlighted. To explicate the problems involved, the book primarily
focuses on entrepreneurial ventures, given their nascent business model
that best illustrates how business leaders can embed the social mission
in the firm at the beginning of organizational founding. In this age,
sustainability is an innovation's new frontier. For sustainable
competitive advantage, the book argues for how companies can build more
sustainable products, processes, and practices that benefit the firm and
society through maintaining an entrepreneurial philosophy.
The target readership consists of academics, students, and practitioners
in the areas of entrepreneurship, organizational behavior,
organizational theory, and strategic management. This book clarifies the
critical practices of sustainability-oriented innovative firms and
creative small and medium-sized enterprises (SMEs).
Through a review of recent trends in CSR, the authors emphasize that CSR
is no longer a "bolt-on" or some kind of window-dressing to satisfy
public relations (PR) needs. Credible CSR is critical to business
legitimacy and sustainability. Aware of the public's increasing
scrutiny, companies are increasingly ramping up their focus on social
responsibility, whether by championing women's rights, protecting the
environment, or attempting to obliterate poverty, on local, national, or
global levels. Simultaneously, more firms face accusations of
"greenwashing" - backlash due to consumer mistrust in the intentions
behind their CSR practices.
While numerous works have highlighted this dilemma and how companies
fall short in their prosocial goals or financial objectives (or both),
there is a lack of understanding of the ingredients and crucial
processes required for the successful implementation of CSR in
entrepreneurial enterprises. This book serves to fill that gap.
