Profit with purpose : the integration of social impact in modern business growth

Abstract

Corporate social responsibility is becoming increasingly important in the business world. Making a positive social impact while growing a business has multiple benefits for a company. This thesis explores how social impact can be financially beneficial to a business and how to apply CSR into a business’s growth strategy. The thesis has Worthmore, a Danish telecom startup, as an example of a company that uses social impact as a way to boost business growth. The theoretical framework of the thesis consists of the examination of corporate social responsibility and social impact. It investigates CSR in depth by looking into its history and development. Social impact is the next step of corporate social responsibility as a philanthropic responsibility, which is explored after CSR. A guide is used as a research development method. The social impact guide shares the benefits CSR and social impact have for a business, and helps businesses to get started with the CSR process. The thesis’s target group is business owners that are looking to take a purpose-driven approach in their business models. It also aims to inspire readers to take a fresh look at corporate social responsibility. The thesis’s primary goal is to encourage businesses to identify corporate social responsibility as a growth opportunity rather than as an obligation. By applying CSR into business practices, businesses can use it to grow their businesses while creating a positive impact.