Question

Let's talk size. Some large multinational organizations eclipse the size of countries. They receive pressure to be good global citizens. But what about the entrepreneurial venture? How does the small firm take on the challenge of the triple bottom line?

Answer 1

Triple bottom line means Social, Environmental and Financial framework. For large multinational organizations it is kind of mandatory to spend some percentage of bottomline on the CSR (Corporate social responsibility) for the wellbeing of society. It is also easier for them as they have a deep financial pocket.

However, it is not that simple for the small firm to take such activities as they dont have such financial pocket. However small businesses can mould this into something which is usefull for their own growth as well. For example, having a research facility which is useful for their own growth as well and which can be leveraged for the society as well.

They can also contribute towards Food systems, gender issues and education and upliftment which are less cost incurring.