There are many interpretations of the CSE concept. In this short lesson, we review the most relevant to date.
“the process of extending the firm’s domain of competence and corresponding opportunity set through innovative leveraging of resources, both within and outside its direct control, aimed at the simultaneous creation of economic and social value”(Austin, Leonard, Reficco & Wei-Skillern, 2006 as cited in Austin & Reficco, 2: 2009)
“the transformation of socially responsible principles and ideas into commercial value” (Schwab, 2008: 108)
“the process of discovering, defining and exploring opportunities through corporate ventures (internal and external) and innovation, as well as strategic renewal that results in the creation of social (and environmental) value” (Tasavori, 2012: 13)
The EMBRACE Project, by considering the scientific literature and the experience of consortium partners in gathering CSE information from European and non-European countries, summarised the concept of CSE as follows.
„CSE is ‚a way of doing business‘ so that all staff in any given organisation (public, private or third sector) are fully aware of their role, responsibility and contribution to the sustainable socioeconomic enhancement of their organisations and the communities in which they live and work. The CSE process includes creating an enabling entrepreneurial environment, fostering corporate social intrapreneurship, amplifying corporate purpose and values as well as building strategic alliances in order to solve economic and social problems and to promote the success of emerging innovative business strategies“ (EMBRACE, 2020).
Visit the EMBRACE Project website and find out more about CSE at