Entrepreneurship Report: Global Challenges and CSR Analysis

This report delves into the multifaceted challenges faced by entrepreneurs and innovators in the global market. It examines issues such as resource constraints, the need for building strategic alliances, the importance of understanding diverse cultural contexts, and the impact of global competition. The report further explores key concepts like Corporate Social Responsibility (CSR), emphasizing its role in ethical business practices and stakeholder engagement. Sustainable entrepreneurship, ethics, and philanthropy are also discussed, highlighting their significance in creating long-term value for both businesses and society. The report analyzes various theories of CSR, including stakeholder theory, business ethics theory, and stakeholder value theory, providing a comprehensive understanding of the responsibilities and obligations of businesses in the global landscape. The report concludes that success in the global market requires a proactive approach to address these challenges and embrace ethical and sustainable business models.

Entrepreneurship Report

Table of Contents
Entrepreneurship Report..............................................................................................................1
INTRODUCTION.......................................................................................................................3
Issues and Challenges of Global Entrepreneurship, Innovation and Sustainability................3
Definition and Description......................................................................................................4
Theories of Corporate Social Responsibility..........................................................................5
CONCLUSION............................................................................................................................6
REFERANCES............................................................................................................................7

INTRODUCTION
There are various challenges which entrepreneurs and innovators have to face when
they are in global context. This report includes discussion over challenges of global
entrepreneurs and innovators like context, resources required, building alliance etc. Corporate
Social Responsibility, sustainable entrepreneurship have also been discussed in this report
along with Ethics and Philanthropy through the businesses and entrepreneurs.
Issues and Challenges of Global Entrepreneurship, Innovation and Sustainability
Issues and challenges increase and become more complex when entrepreneurship,
innovation and sustainability is in global context. Some of the issues and challenges are as
follows-
Resources
This is a challenge for all whether it is entrepreneur, innovator or in relation with
sustainability. Resources required in global context are more than they are required in national
and local context (Markman and et.al., 2016). For success of entrepreneurship in global
context entrepreneurs have to ensure availability of the resources for production and
distribution of products and service. Innovators also when bring innovation they have find
ways in which they will be able to avail their innovation to the world.
Building Alliance
In relation with global entrepreneurship it is very important that entrepreneurs have
alliance in other countries. This is challenge and issue for the success of the global
entrepreneurship to build alliance. In local and national entrepreneurship it is easy to build
alliances because of similarity of interest and culture. This becomes difficult in global context
because of difference of culture and interest.
Global Level Knowledge of Suitability and requirement
Innovators and entrepreneurs when bring their business and innovation in global
market they are required to have knowledge of all the countries in which they wish to sell their
products. All the entrepreneurship and innovations are not suitable for all the countries
because of varied taste and culture (Voegtlin and et.al., 2019). This is why it needs
entrepreneurs and innovators to carry out comprehensive research about the needs and
requirements of their product in other country so that they can sustain their business globally.

In this they also require to research about various methods through which they can attract
people towards their products and services.
Global Competition
this is one of the most difficult challenge and it becomes more complex and difficult
when entrepreneurship and innovation is in global context. They are required to prove
themselves better than all other entrepreneurs and innovation in order to attract people towards
them. There are various other entrepreneurs and innovators in global context to offer same and
similar product and service. Entrepreneurs have to communicate their value and this is a
difficult task specially to compete with local entrepreneurs and innovators of other country.
This is because they are supported by government and local people.
Definition and Description
Corporate Social Responsibility
Corporate social responsibility (CSR) is a type of business model self-regulatory
business model (Tran, 2019). This involves that companies themselves contribute for
completion of social goals and does not have to bind by any law and regulations. In this
company and businesses themselves feels accountable for their stakeholders and society at
large. Corporate social responsibility is also known as corporate citizenship. In this company
can impact and make influence on various aspects of the society such as economic, social and
environmental. Companies are using this model and many companies presently have
integrated corporate social responsibility with their business strategy and business model.
Sustainable Entrepreneurship
Entrepreneurship refers to act of development and management of a entrepreneurial
ventures. Sustainability when gets associated with entrepreneurship it means to share value of
entrepreneurship with society. Through this entrepreneurship can increase value of both
society and business (Hoogendoorn, van der Zwan and Thurik, 2019). This includes that
entrepreneurship is able to solve various social problems through its business activities. For
example, entrepreneurship provides sources of income to society and at the same time gets
benefit of this and is able to sustain in the business market. This has increased value of both
business and society that entrepreneurship can sustain for longer and society have a source of
income.

Ethics
Ethics are moral and general values which govern act and conduct of individual and
organisations. This provide criteria for decision based on right and wrong. With increasing
knowledge and concern understanding ethics have become more difficult and complex. There
are various theories of ethics and some of them focus on action some of them focus on
consequence of the action (Barry, 2016). This have make it difficult to chose what is right and
what is wrong. In this context organisations need to make ethical decisions which are good for
both for their business objectives and sustainability and for their stakeholders and society.
Philanthropy
Philanthropy is a act which focus on good of public, this does not consist of any
regulations and laws. Philanthropist undertakes such action because of their willingness and
because they want to do good public and improve their quality of life. In general a charity
given on a large scale for the causes which are worthy can add value in life of society and
beneficiaries (Alaimo, 2016). Act and funding is much more than donations and is often
undertaken by wealthy individuals or organisations so that they can improve situation of
people in society and many of them found trust for this purpose.
Theories of Corporate Social Responsibility
The Stakeholders Theory of CSR
This theory of CSR includes those groups which are considered as stakeholders of the
company. In this company list out all those groups and individuals which gets affected by the
action of the company and those whose actions can affect company. Later company considers
what are the legitimate claims of the stakeholders groups and individuals on the company.
What are rights of those stakeholders in relation with company and its actions (Frynas and
Yamahaki, 2019). What are the responsibilities and obligations are there which stakeholders
can impose on the company. Instead of all above discussion this theory of CSR considers that
those who get affected by the actions of the company have right to participate in the activity of
directing the company.
Business Ethics Theory of CSR
This theory is based on wider perception and what obligation (moral) business has
towards society. This theory of CSR is based on the Grounds which are-

Expectations of society from business related to particular problems because of changing and
emerging social responsiveness.
External and Intrinsic values which inspire companies such as some normative and universal
principles like fairness, human rights and justice. This is also an important consideration that
company is responsible for social values and behave as per legal and ethical norms which
guide behaviour of corporations.
Corporate Citizenship, in this corporation act as better citizen of the society and contribute for
various actions for social well-being. Acts which are aimed at improving life of people of the
society.
Stakeholders Value Theory of CSR
As per this theory of CSR, businesses are only responsible for their profit and
following a legal and acceptable form for making profit (Freda, 2017). This theory considers
that businesses are required to perform business functions which contributes to society and
economy and functions of business should not be confused with functions which are
performed by organisations which are non-profit and government.
CONCLUSION
On the basis of above discussion it can be concluded that it is not easy for
entrepreneurs and innovators to sustain in global market and challenges faced by them become
more complex in global context. Later in this report some of the concepts were discussed such
as CSR which means business model which is responsible and accountable for social well
being. Sustainable entrepreneurship through which entrepreneurs can share their values with
society and increase both of their values.

REFERANCES
Books and Journals
Alaimo, S., 2016. What is philanthropy?.
Barry, N., 2016. Business ethics. Springer.
Freda, M., 2017. The Influence of Self-Regulation and Stakeholder Theories on Corporate
Social Responsibility (CSR). International Journal of Multicultural and
Multireligious Understanding. 4(3). pp.29-34.
Frynas, J. G. and Yamahaki, C., 2019. Corporate Social Responsibility: An Outline of Key
Concepts, Trends, and Theories. In Practising CSR in the Middle East. (pp. 11-37).
Palgrave Macmillan, Cham.
Hoogendoorn, B., van der Zwan, P. and Thurik, R., 2019. Sustainable entrepreneurship: The
role of perceived barriers and risk. Journal of Business Ethics. 157(4). pp.1133-1154.
Markman, G and et.al., 2016. Global entrepreneurship: Assessment and challenges. Global
entrepreneurship: Past, present & future (Advances in international management,
Volume 29). pp.35-43.
Tran, B., 2019. Corporate social responsibility. In Advanced Methodologies and Technologies
in Business Operations and Management. (pp. 270-281). IGI Global.
Voegtlin, C and et.al., 2019. Grand societal challenges and responsible innovation. Journal of
Management Studies.