Is CSR the panacea for SMEs? A study of socially responsible SMEs during economic crisis

Entrepreneurial orientation and CSR: a dynamic capability in the corporate performance of Mexican SMEs

“…The study has generated a series of implications, from a theoretical context the study allows: 1) contribute to the development of Dynamic Capabilities (concluding that SMEs innovative and entrepreneurship-oriented can raise their competitiveness and Corporate Performance to a higher level and to the Stakeholder theory (proving that SMEs are a key piece for the survival and economic, social and environmental development of most regions, 2) design and improve business models focused on business sustainability, and 3) provide literature on sustainable business for discussion among experts, researchers and the university community. From an empirical perspective, the study has found that: SMEs in this region are: 1) developing entrepreneurial-oriented strategies, mostly focused on making risky decisions but with safer financial results, on improving their capacity for innovation to generate new and better products for their customers and are also focusing in its proactivity through the constant fight for competitiveness in the sector (Laskovaia et al, 2019;Wales, 2016) the right path towards sustainable entrepreneurship through the voluntary implementation and in some cases blindly (without full knowledge) of corporate social responsibility (Magrizos et al, 2020;McWilliams et al, 2006). 2) These companies are aware that greater investment in social, economic and environmental actions can lead them to generate greater corporate performance, to achieve greater prestige and to attract and greater market coverage (Ortiz-Avram et al, 2018b;Tuan, 2015;Wales, 2016).…”

“…2) These companies are aware that greater investment in social, economic and environmental actions can lead them to generate greater corporate performance, to achieve greater prestige and to attract and greater market coverage (Ortiz-Avram et al, 2018b;Tuan, 2015;Wales, 2016). However, the findings also inform that environmental actions are the least developed or practiced in these organizations, this because there is always the fear that this investment can become a significant expense for the finances of the business (Friedman, 2007;Magrizos et al, 2020). 3) Therefore, our study is extremely important for business sciences, because the combination of two dynamic capacities such as entrepreneurial orientation and corporate social responsibility, can be the right way for SMEs to become business-oriented sustainable entrepreneurship, in highly competitive companies within their sector and, in companies that manage to improve their more sustained financial returns over time (Wales, 2016;Zahra et al, 2006).…”

“…In the literature, the positive effect that CSR has on corporate performance has been largely discussed, it is common to find in literature that CSR produces greater social innovation, greater image, greater reputation and, consequently, better performance organizational economic and financial business (Hadj, 2020;McWilliams et al, 2006). However, for SMEs, the road is long to achieve all these benefits, this mainly depends on the size, resources and entrepreneurial capabilities (Ortiz-Avram et al, 2018a), in addition, SMEs tend to focus on a narrow niche of interest groups, all this contrasts with what is practiced in large companies (Magrizos et al, 2020).…”

Evaluation of the selected economic parameters of Czech companies and their potential for overcoming global crises during the Covid-19 pandemic

“…The authors found that investments during the crisis were less dependent on internal finances than on external ones. The conclusions showed that loans from banks were a decisive factor in determining the investments of SMEs during the financial crisis in 2008-2009. Magrizos et al (2020 dealt with the issue of corporate social responsibility in times of economic crisis and points to the fact that corporate social responsibility in the crisis period receives insufficient attention even from researchers.…”

Controlling – An Empirical Study and Proposal of a Relevant Model for Sustainable Business and Development in Slovakia

“…Thanks to its use, it is possible to meet the economic, social and environmental aspects of the SRB. It is a new trend of controlling that seeks to evaluate ecological variants of individual options/activities (Crowther & Aras, 2008;Sedliačiková et al, 2019;Malá et al, 2019;Malesios et al, 2021;Magrizos et al, 2021).…”