Entrepreneurial Innovation Responsibility (EIR): Mitigating the Political Risks of Disruptive Innovation

Corporate Social Responsibility (CSR) is a concept with a long history in research literature and the classroom. However, CSR mainly pertains to established companies with extensive resources and influence in markets and communities. Startups may acquire this influence, but it is likely to be in the...

Full description

Saved in:
Bibliographic Details
Published in:Journal of small business strategy 2024-09, Vol.34 (2), p.26-41
Main Authors: Goldsby, Michael G., Kuratko, Donald F., Nelson, Thomas E., Neck, Christopher P.
Format: Article
Language:English
Subjects:
Business ethics
Disruptive innovation
Employees
Entrepreneurs
Entrepreneurship
Externality
Labor contracts
Political risk
Risk management
Small business
Social responsibility
Startups
Technological change
Technology
Workers
Workforce
Citations: Items that this one cites
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Corporate Social Responsibility (CSR) is a concept with a long history in research literature and the classroom. However, CSR mainly pertains to established companies with extensive resources and influence in markets and communities. Startups may acquire this influence, but it is likely to be in the future. As entrepreneurs build their businesses, current concerns related to establishing their products and enterprises is of utmost consideration. The startups with the most upside for investment opportunities pursue entrepreneurial innovation. Yet, entrepreneurial innovation changes not only markets but society itself. For many entrepreneurs, they do not consider the ramifications and challenges society and government may bring as the status quo is disrupted. Therefore, in this paper, we offer Entrepreneurial Innovation Responsibility (EIR) as a concept tailored to the unique challenges startup entrepreneurs may face. EIR is grounded in entrepreneurship and corporate social responsibility research and is a forward-looking approach to help entrepreneurs consider and plan for stakeholders who may resist the innovations they bring to the world. We provide a four-step process for mitigating these risks, as well as examples for illustrating how the process can be applied.
ISSN:1081-8510
2380-1751
DOI:10.53703/001c.92174