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In the second perspective, certain differences can be observed between the concept of CSR and

sustainability. However, these differences should be dealt with carefully and in perspective. Some
of these differences are listed below:

• Vision – CSR often looks into the past and reflects on how an organization has
contributed to society.

• Sustainability looks to the future and searches for sustainable solutions.

• Timeframe – CSR is more associated with shorter timeframes and sustainability with
longer ones.

• Motivation – the motivation for CSR usually tends to be the protection of a company’s
reputation and keeping a good name among its employees. Sustainability is more
about the creation of new opportunities for existing or new markets.

• Focus – The aim of CSR is often determined by the opinions or pressure exerted by
various groups – e.g. the media, politicians, etc. Many opinions of CSR view it as
something similar to public relations for investors, media, politicians and other
“pressure” groups. Sustainability looks at the whole value chain – from the end

customer to other stakeholders.

Social entrepreneurship and social innovation

Social entrepreneurship is a concept that is closely linked to so-called social economics; social
economics can be seen an overarching concept for social entrepreneurship. How then do we
understand what is social economics and what is social entrepreneurship?

Social economics encompasses entities such as associations, foundations, cooperatives,
mutually beneficial or other organizations that provide products, goods and services with
consideration of both economic and social interests (Fonteneau et al., 2011). They are founded
on the triple bottom line principle. The basis of this principle is simple. An organization that
espouses the concept of the triple bottom line shows that it is focusing not only on achieving profit
and economic growth, but also on the planet and the environmental aspects of its activity. Finally,

it also focuses on people, the social aspects of its activity.
Nicholls (2008) sees social entrepreneurship as a collection of innovative and effective activities
that strategically focus on remedying faults in the social market and creating new opportunities in
order to create social added value in a way that maximizes social impact and creates an
environment for change.

Tessea (2011) views social entrepreneurship as entrepreneurial activities that benefit society and
the environment. Social entrepreneurship plays an important role in local development and often
creates work opportunities for individuals with health, social or cultural disadvantages. Profit is

largely used for the further development of the social enterprise. Making profit is just as important
for a social enterprise as heightening public benefit.
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