The Role of Social Responsibility in Entrepreneurship
Over the 20th century, there has been a subtle shift in society's perception of business conduct. Businesses are expected to use their resources and influence to improve the quality of life around them. As Mike Sims quotes, "A business that makes nothing but money is poor. In a recent survey, 87% of customers stated they prefer businesses committed to social responsibility. In this article, we will discover the profound role of social responsibility in entrepreneurship. Historical Perspective Back in the day, during the industrial revolution, the economy was flourishing but problems arose—tough working conditions and harm to the environment. People started thinking, "Businesses should do better." In the early 1900s, individuals like Robert Owen and Titus Salt stepped up. They improved conditions for workers, showing that businesses could be good for their communities. After World War II, smart thinkers like Peter Drucker said, "Businesses, think about your peop...