The traditional model of profit maximisation is giving way to a more conscientious and socially responsible approach to entrepreneurship. The rise of socially responsible entrepreneurship is a huge credit to the power of community and the transformative impact businesses can have on society. Let’s delve deeper into the ethos, challenges, and triumphs of this paradigm shift towards a more conscious form of capitalism: The Essence of Socially Responsible Entrepreneurship 1. Beyond Profit: A Purpose-Driven Approach Socially responsible entrepreneurship transcends the singular pursuit of profit. It champions a purpose-driven approach that considers the broader impact of business activities on society and the environment. Beyond financial success, these entrepreneurs strive to contribute positively to the well-being of communities and the planet. Patagonia, the outdoor apparel company, is a quintessential example of a purpose-driven business. With a mission to “Build the best product, cause no unnecessary harm, use business to inspire and implement…
By Gagan Dhawan