Social Entrepreneurship and the Purpose of Business Report

This report examines the purpose of business, focusing on social entrepreneurship and corporate social responsibility (CSR). It highlights how social entrepreneurs contribute to society by offering high-quality, affordable goods and services, driving innovation, and creating social value. The report emphasizes the importance of businesses engaging in CSR activities to meet societal needs, protect the environment, and ensure long-term sustainability. The report discusses how CSR impacts business practices and decision-making, ensuring they align with social welfare and ethical considerations. References from books and journals support the analysis of business purpose and social entrepreneurship.

The Purpose of Business

Table of Contents
What is the purpose of business.......................................................................................................1
REFERENCES................................................................................................................................2

What is the purpose of business
Social enterprises are different from other business. It is because they are formed with
different purpose and concept. Their main goal is to contribute towards society. Social
entrepreneur plays a significant role in business. They contribute in improving the lifestyle of
people so that societal standards can be raised (Dees, 2017). This is done by providing them high
quality products at low cost. Sometimes, services are provided free of cost to fulfil their needs. A
social entrepreneur brings in new and creative ideas goods and services. It attracts other business
to develop similar products. This leads to bringing innovation in goods to improve living
standard of society. Social entrepreneurs adopt a mission to create social value. They recognize
new opportunities and engage in continuous innovation.
In similar way it is necessary for business to involve in CSR activities. It is because
businesses are accountable towards society. They have to safeguard interest of public as well as
stakeholders. CSR includes activities to provide a better social life to people. it enables business
to protect environment, fulfil needs, etc. of people (Hsieh, Enderle and Murphy, 2015). There
are many ways through which it is done. CSR forces business to develop goods as per needs of
society. With this, they are able to sustain in industry for long term. Moreover, society regulates
business for social welfare. The practices followed and decision taken are in favor of social
cause.
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REFERENCES
Books and journals
Dees, J.G., 2017. 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability(pp. 34-42). Routledge.
Hsieh, N.H., Enderle, G. and Murphy, P.E., 2015. Managerial Responsibility and the Purpose of
Business: Doing One’s Job Well. Ethical Innovation in Business and the Economy: Studies in
Transatlantic Business Ethics, pp.95-118.
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