The Core Challenge of CSR in Entrepreneurial Ventures

Young Won Park (ywparkjp@gmail.com) and Ye Jin Park (yejin.park@insead.edu)
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Young Won Park: Saitama University
Ye Jin Park: INSEAD

Chapter Chapter 1 in Corporate Social Responsibility and Entrepreneurship for Sustainability, 2021, pp 1-9 from Springer

Abstract: Abstract Every firm’s CSR problem boils down to legitimacy. To address the legitimacy challenge, we provide two guiding questions: (i) What CSR initiative is most aligned with the company’s business model?; (ii) How can the firm communicate its CSR philosophy to gain legitimacy from internal and external stakeholders? The legitimacy challenge of CSR implementation can be addressed using a two-pronged approach. Talent principle—the founding idea of the business should also be the idea that fuels the CSR program. Thermometer principle—entrepreneurs need to be equipped with analytical tools that allow them to assess the current business climate, predict future trends, and conduct experiments to test whether predictions match reality.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-3460-4_1

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DOI: 10.1007/978-981-16-3460-4_1

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