Question

What is the difference between Corporate Social Responsibility and social entrepreneurship?

Answer 1

The two works for to achieve sustainable human development by serving the society and tries to carry out policies which will benefit the society.The purpose of both, Corporate social responsibility and Social Entrepreneurship may be same but they are totally different from one another in the following manner-

The main difference between CSR and SE relates to the difference in them being reactive and proactive.CSR is mainly reactive process and it takes responsibility of how it's business can affect the environment.They can save energy and buy fair-trade products.The social entrepreneur will focus his entire core business on creating a social welfare.

The social entrepreneurship are startups companies which are mainly funded and sugges solutions to various social and enviromental issues and they are mainly non-profit companies which looks to generate a positive return and better the society.They can be for-profit startups too but then the objective to earn these profits is to provide something back in return to the society by investing all the surplus they get back into creating a value. They usually work in areas such as poverty alleviatio,health care and development.

The CSR are on the other hand,companies which are mainly driven by profits but they try to do so in a way that their actions may not harm the environment,they are operating in.For big corporates,it may mean to reduce the negative effects their business causes to the environment and try to adopt some projects which can show its investors and stakeholders that the company is contributing towards creating a value by serving the society other than it's normal business