Relationship between Corporate Social Responsibility and Entrepreneurship - Evidence from Romanian Entrepreneurs
Abstract
Nowadays, one of the essential issues of any business is represented by CSR. Corporate Social Responsibility is also known, from a European view, as the “Responsible Business Conduct” of everyone, and so this paper highlights the importance of being responsible from early beginnings. Being actual “revolutionary forces”, entrepreneurs contribute to national wealth and growth, job creation, productivity stimulation, adaptation and innovation to meet ongoing changes in market demands. We analyze the conduct of young entrepreneurs and discuss their knowledge in the matter of CSR. We ask young entrepreneurs: What type of CSR actions their firms undertake? How their age and size of the firm influence CSR actions? Their answers are to be analyzed and discussed in a broader context as one of the European Union. Measuring CSR awareness among young entrepreneurs shows a significant increase at a macro level but still a low rate when looking at other UE countries. Our findings prove that entrepreneurs are aware of the concept and dimensions of CSR, but still, profit is more important. We conclude and highlight the importance of productive entrepreneurial activities supported by integrating CSR actions into the company’s strategy and development directions to ensure the balance between the company’s objectives and its interests.
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