Corporate Social Responsibility: Global Perspective, Competitiveness, Social Entrepreneurship & Innovation

Abstract

Profit Making & Social Responsibility is an oxymoron and can be strongly debated. Profit making is the essential reason for an enterprise to prolong and grow. Social responsibility is the fundamental duty of the state that must focus upon the upbringing of its stake holders with social justice. This includes proactive participation by the governance in elevating quality in work life of its citizens. Thus attempting the balance of wealth and social justice/empowerment, shall invite a synergy between the Public-Private partnership in enhancing the competitive existence & growth of national economy.

State is a necessary evil. The primordial responsibility is governance and to bring order from disorder. The concept of city-states like Greece existed, which portrayed high level of self governance and self sustenance. Besides this, for a nation to be healthy and prosperous, the state must not hinder Liberty. The world has witnessed social unrest as a cause of economic disparity, inequality, social injustice etc. resulting into world wide protests, cross border and internal disputes, civil wars, battles, regional and the world wars.

Hence, there must be continuous efforts to reduce this economic disparity amongst the country men but the irony being that the State is unable to execute its primary duties in the form of social responsibilities, either because (i) it is not able to mobilise funds, (ii) funds available are not adequate against the requirement, (iii) it is not able to utilise the funds or/and (iv) there is lack of governance and will power.

As a result, the entrepreneurs in the micro community or corporate, emerge as entrepreneur cartel(s) to carry out this important assignment. They participate as social entrepreneurs and emerge as drivers to engine of economic and social growth. Strategic innovation, hence, emerges as an imperative tool towards a globally competitive existence and performance.

Keywords: Innovation, Enterprise, Social Responsibility, Competitiveness, Social Entrepreneruship