The worth of corporate social responsibility in SME growth to large corporate size

Solly Matshonisa Seeletse
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Solly Matshonisa Seeletse: Professor, Department of Statistical Sciences, Sefako Makgatho Health Sciences University

International Journal of Business Ecosystem & Strategy (2687-2293), 2024, vol. 6, issue 2, 51-60

Abstract: This study investigated the relationship between corporate social responsibility (CSR) and the growth of small and medium-sized enterprises (SMEs). It examined the extent to which SMEs can engage in CSR to achieve larger sizes. A purposive study selected three large corporates that started as SMEs and grew to become large corporates through CSR. Interviews with managers leading CSR in these corporates revealed that CSR can be a key driver of growth, leading to larger sizes. The study concludes that CSR can be effectively used by SMEs to enhance their growth, potentially even to multinational enterprise levels. Recommendations include training employees in CSR knowledge, integrating CSR into business operations, prioritizing CSR initiatives, exposing management to CSR, and incorporating CSR into the mission for strategic status.

Keywords: Bank; culture; grocery retail; pharmaceutical; stakeholder (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:adi:ijbess:v:6:y:2024:i:2:p:51-60

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