The Role of Social Enterprises and CSR in Business Development

This report examines the crucial role of social enterprises and corporate social responsibility (CSR) in business development. It highlights how social enterprises, driven by social, cultural, and environmental objectives, contribute to a positive brand image and customer loyalty. The report emphasizes that CSR initiatives help companies meet their social responsibilities, attract customers, and gain a competitive edge. The report also discusses how social enterprises contribute to job creation and fair trade practices. Through their focus on reinvesting profits into the business or community, social enterprises demonstrate a commitment to long-term sustainability and ethical business practices. The report references key academic sources to support its claims.

What is the purpose of
business

Table of Contents
MAIN BODY...................................................................................................................................1
REFERENCES ...............................................................................................................................2

MAIN BODY
Social enterprises are the profit generating businesses with primarily social, cultural and
environmental objectives. There are numerous roles that social enterprise play in order to achieve
purpose of a business. The major role of a social enterprise is to provide satisfaction to customers
by fulfilling their social responsibility so as to improve their brand image because a company
which works for the society is viewed as a reputed company. Apart from this, other roles of the
social enterprises are reducing the unemployment in the society by providing jobs to them in
order to achieve the purpose of the business(Ridley-Duff and Bull, 2015). Moreover, they
promote fairness in the global trading relationships and re-invest majority of the profits back into
the business or community rather than the aim of maximizing profits for its shareholders.
Corporate social responsibility is the responsibility which is adopted by all the large
organisation in order to improve the brand image, increase their sales and maximise their profits
because when a company fulfils its social responsibility it is viewed as a company which is
working for the benefit of society and this helps the company to create loyal customers. It is very
important for firms to adopt corporate social responsibility because it helps the company to
survive and grow in the long term. Furthermore, this helps the company in achieving the
competitive advantage as a company is in a better position then its competitors(Crowther and
Seifi, 2018).
Hence, it can be said that social enterprises and corporate social responsibility play a major role
in achieving the purpose of the business.
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REFERENCES
Books and journals
Crowther, D. and Seifi, S. eds., 2018. Redefining Corporate Social Responsibility.
Emerald Group Publishing.
Ridley-Duff, R. and Bull, M., 2015. Understanding social enterprise: Theory and
practice. Sage.
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