Corporate Social Responsibility and Sustainable Entrepreneurship: “good business for a good society”.

Abstract

The aim of this paper is to understand the important evolution of the concept of Corporate Social Responsibility and the much newer concept of Social Entrepreneurship. These two together are the right path for a sustainable future economic development. In the past, Corporate Social Responsibility was perceived as nonmandatory and it was described as the voluntary integration of the social and environmental concerns of companies in their commercial operations and in their relations with partners, but later and especially nowadays, CSR is the corporate responsibility for its impact on the society. The goal of CSR is to identify, prevent and mitigate any negative consequences of corporate transactions on the environment. When reading the definition, it seems easy to understand, but in reality, it is much more complicated to recognize the players involved in the whole system. Today, when we talk about Corporate Social Responsibility, we include three important systems: economic, political and judicial. This means that not only the companies are responsible for their actions, but also the government and law institutions must intervene. We need to find a system of values very close to the business practices: Corporate Social Responsibility and Social Entrepreneurship mean “good business for a good society”.