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2021 | OriginalPaper | Chapter

1. The Core Challenge of CSR in Entrepreneurial Ventures

Authors : Young Won Park, Ye Jin Park

Published in: Corporate Social Responsibility and Entrepreneurship for Sustainability

Publisher: Springer Singapore

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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.

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next chapter Cross-Cultural CSR Strategy
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Metadata
Title
The Core Challenge of CSR in Entrepreneurial Ventures
Authors
Young Won Park
Ye Jin Park
Copyright Year
2021
Publisher
Springer Singapore
Book
Corporate Social Responsibility and Entrepreneurship for Sustainability

Print ISBN: 978-981-16-3459-8

Electronic ISBN: 978-981-16-3460-4

Copyright Year: 2021

DOI
https://doi.org/10.1007/978-981-16-3460-4_1