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Social Entrepreneurship and Corporate Social Responsibility in the Context of a Moral Economy: Dilemma for Developing Countries (Case of Georgia)

Author

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  • Natsvlishvili Ia

    (Tbilisi State University named after Ivane Javakhishvili, Department of Microeconomics, Georgia)

Abstract

This research discusses the role of social entrepreneurship as an important feature of the moral economy, i.e., a socially responsible business practice. Developing countries, e.g., Georgia, a post-Soviet country, differ from those in the West in this aspect. The author aims to identify peculiarities of social entrepreneurship and corporate social responsibility of Georgian businesses. Desk research provides conceptual analysis of the existing quantitative and qualitative studies, based on prominent scientists’ works in economics and entrepreneurship. A “moral economy” understands business activities as “social services.” Social responsibility is a business’s moral framework, suggesting a company’s obligation to generate social benefit. Social entrepreneurship combines the best practices from the nonprofit and for-profit activities to tackle social needs poorly addressed by businesses and governments. Social entrepreneurship is a relatively new phenomenon in post-Soviet countries, where nongovernmental organizations help in solving many social problems, but their efforts are typically insufficient. Entrepreneurs must find a balance between a company’s success, employees’ needs, and environmental and social stability. These three priorities form the foundations of corporate social responsibility. Economic history provides many examples of moral standards driving the stability of a socio-economic system and profitability of companies with macroeconomic and microeconomic positive impacts. Companies operating in Georgia spend their funds on social projects and charity; moreover, such socially oriented activities are sometimes chaotic. Companies need to implement social responsibility projects as part of their business plans. Strengthening corporate social responsibility could thus support development of social entrepreneurship.

Suggested Citation

  • Natsvlishvili Ia, 2018. "Social Entrepreneurship and Corporate Social Responsibility in the Context of a Moral Economy: Dilemma for Developing Countries (Case of Georgia)," Naše gospodarstvo/Our economy, Sciendo, vol. 64(4), pages 49-59, December.
  • Handle: RePEc:vrs:ngooec:v:64:y:2018:i:4:p:49-59:n:5
    DOI: 10.2478/ngoe-2018-0022
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    References listed on IDEAS

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    1. Alexander Dahlsrud, 2008. "How corporate social responsibility is defined: an analysis of 37 definitions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 15(1), pages 1-13, January.
    2. Eka Chokheli, 2015. "The The Role of Social Responsibility and the Growth Perspectives in Business (The case of Georgia))," Proceedings of International Academic Conferences 1003713, International Institute of Social and Economic Sciences.
    3. Ia Natsvlishvili, 2017. "Gender Inequality and Women’s Entrepreneurship-Challenges and Opportunities (Case of Georgia)," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Country Experiences in Economic Development, Management and Entrepreneurship, pages 491-505, Springer.
    4. Inga Balarjishvili, 2017. "Contradictions of Development of Civil Society as Economic Actor in Georgia," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Country Experiences in Economic Development, Management and Entrepreneurship, pages 171-186, Springer.
    5. Seelos, Christian & Mair, Johanna, 2005. "Social entrepreneurship: Creating new business models to serve the poor," Business Horizons, Elsevier, vol. 48(3), pages 241-246.
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    More about this item

    Keywords

    entrepreneurship; social entrepreneurship; corporate social responsibility; post-Soviet Georgia; developing country;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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