Keywords

1 Introduction

The increase in environmental emissions has had consequences that have been reflected in the environment, both in flora, fauna, and society itself, thus generating a change in consumers’ priorities and, therefore, manufacturers and sellers [68]. Consequently, over the last decades, monetary growth is not the only objective of companies [109]; given the increased attention to social and environmental aspects, both large and medium along with small-scale enterprises, including entrepreneurship, seek to increase their potential through the development of Corporate Social Responsibility (CSR) practices in an attempt to transform their business into a sustainable and responsible project [9, 54]. In addition, those businesses that prefer to remain traditional, profit-focused eventually take the route to sustainability since the current solutions reflect lower costs and risks [51]. Moreover, in the eyes of consumers, a brand with a positive corporate image (CI) is more attractive. Businesses must know how to develop and communicate it correctly to achieve preference, generating reputation and competitiveness [51, 63]. This chapter has been developed to recognize the importance of incorporating CSR practices and positive corporate development in the various enterprises that, to integrate these aspects, decide to take a green path. Thus, the structure is a sum of past information related to traditional and green entrepreneurship, the implementation of CSR over the last years and in current times, the effect of a green corporate image in business, and the exposition of cases that exemplify the application of all the above mentioned.

2 Traditional Entrepreneurship to Green Entrepreneurship

A key factor relevant to a country's entrepreneurial health is having many active entrepreneurs and ventures [57]. In many cases, it depends on the competitiveness of enterprises with the constantly changing markets and changing needs of contemporary society [61, 79]. In this way, new opportunities are explored by entrepreneurs, and in the process, they may encounter many difficulties [101], although their main objective is to persevere in the business, so they must anticipate future changes and transform themselves [83, 84].

Traditional ventures are classified according to their entrepreneurs as novice entrepreneurs, regular entrepreneurs who create a new product or service to sell their business and acquire new ones subsequently, and finally, there are portfolio entrepreneurs who create clusters [3]. Entrepreneurs must identify opportunities to generate new business based on their background and experience [19, 101]. Also, for a company to be competitive, it needs attention, good planning, and well-analyzed decision-making based on good practices [11, 61, 108]. That is why long-term improvements become advantages that benefit not only the company but also the environment [61].

A new way of thinking breaks paradigms and links two concepts such as innovation and entrepreneurship. There are different types of characteristics of traditional entrepreneurship, but two of the most relevant ones are related to entrepreneurial teams [39]. On the one hand, there are the financial interests, and all must be shareholders [95], on the other hand, the management of the company and there is a higher probability of having an increased growth and subsistence in the market [65]. In this way, sets of people are more active in participating in the evolutionary development of the business, as it has an acquisitive interest [39]. The world is changing to focus on greater sustainability and ecological concern [52, 83, 84]. Therefore, green entrepreneurship solves social, economic, and environmental problems [68].

There are several categories of entrepreneurship, one of them is social entrepreneurship, which is a broad, popular, and recent trend in different sectors and types of entrepreneurships [73, 90, 100]. It is also characterized by identifying the various problems of society to promote a social impact through awareness-raising [47, 66, 67, 71, 114]. In addition, there are two subcategories of social entrepreneurship [90]. The first is limited, as it focuses on non-profit-making organizations such as NGOs [47, 90]. And the second is a little bit more extensive, because it covers the social and economic sphere, and is concentrated in companies that have lucrative purposes to different degrees [12, 47, 53, 98]. In addition, there can always be companies that are more focused on the social aspect and others on the economic aspect, considering them mixed [47, 98] (Fig. 1).

Fig. 1
A flow diagram of the social entrepreneurship model has two major components, limited and extended which further leads to non-profit and hybrid, respectively.

Source Rahim and Mohtar [98]

Social entrepreneurship model.

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2.1 Theoretical Consideration of CSR

Corporate social responsibilities (CSR) are linked to social standards and environmental protection [10], which organizations should prioritize [115], becoming more efficient by achieving relevant financial performance [58]. To analyze the concept of CSR in depth, we will draw on Archie Carroll's definition of sustainable business, shown below [111]. In which the base is the economic responsibility that must be sustainable and solid [117], since it is fundamental in business, giving support to the whole infrastructure of the pyramid [31, 42]. In the next link is the legal sphere, due to the fact that society demands that laws are complied with by working ethically, thus providing legitimacy in law for business growth [33, 42]. This goes hand in hand with ethical responsibility, in which there is a degree of expectation above the minimum levels demanded by the rules [40, 111]. Finally, there is philanthropic responsibility in which there is always an expectation to do the right thing [32, 117]. It is important to stress that all four aspects of CSR are ethically motivated [33, 42] (Fig. 2).

Fig. 2
A pyramidal structure model has four-part definitions of corporate social responsibility. They are philanthropic, ethical, legal, and economic responsibility.

Source Carroll [33]

Carroll’s pyramid.

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2.2 Differences Between Social Entrepreneurship and CSR

Social entrepreneurship is still at an early stage, so the topic is very attractive to many researchers [29, 50]. Also, companies are more focused on social changes and use digital platforms to legitimize themselves, thus overcoming the underfunding of communication with customers that existed in the traditional model [35]. Furthermore, various definitions have been offered [35, 47], but all are based on four important factors, which are operational management, characteristics of the entrepreneurs, resources used as raw material, and the mission of the organization [43]. The purpose of social entrepreneurship is value creation [89], which has a social impact and is its major differentiator [35]. Although the mission is established, it does not exclude that part of its objective is also economic by coupling a sustainable strategy [43] balancing both aspects, this gives rise to several logical institutions competing with each other [21]. To do this, entrepreneurs recognize an inequality that may still affect a certain number of people, to subsequently identify an alternative that improves the situation for those involved in the social system [85], which is why measurable objectives and projected results must be defined from the outset [7, 28].

It is important to carry out an analysis in which CSR and social entrepreneurship can be compared, which arises from the increase in activities related to both concepts [13]. As we have seen in the previous paragraphs, the social entrepreneur focuses his or her enterprise on positive effects and can be given the role of an agent of change [47, 94], without forgetting the benefits for the current and future society [47], this being a basic difference [111], furthermore, trade-offs can be found in the rates of return applied to market share and customer satisfaction [13, 102].

2.3 Theoretical Consideration of CI

Organizations conduct strategic communication among stakeholders to promote positive perceptions and discourage negative ones [72, 87]. Organizational image management theory stems from an individual perspective of image management and self-presentation notions, alluding to the steps required to establish, preserve, or even, re-establish a desirable image in the eyes of a firm’s interest groups [86, 87]. To enhance their likelihood of succeeding in the market, corporations are compelled to maintain a positive image among their clients [60, 96, 97]. The dilemma for corporations relies on being able to comprehend the volatility of the competitive landscape, as well as to adapt their image according to market flux, in a responsive manner [24, 60, 86]. Organizational image management is a dialectic process wherein the corporate image surges as a construct developed by the repeated interaction of a firm’s both internal and external stakeholders [86, 87, 96]. Therefore, enterprises are faced with the need of proactively interacting with stakeholders following a dialogic schema to cultivate certain images and discourage others [86, 87, 118]. Considering a company’s executives might advocate and promote a certain perception of their CI, however, that perception shall first attain the conviction and validation of the public to prevail [24, 103]. For instance, an entity’s corporate image can be ultimately understood as a social conceptualization originated from the deliberate inter-exchange of information between business executives and the audience [24, 86, 87, 97, 118].

After defining the notion of the corporate image via the theory of organizational image management, it seems appropriate to elaborate on the theoretical conceptualization of a closely related term known as corporate identity [24]. Corporate identity represents the pure essence of an organization, highlighting the personality and characteristics that the conglomerate provides to the public; as well as the offer, mission and vision that represents the company [15]. On the other hand, corporate image is the public's perception of the company based on the ideas, principles, and values of each person [5, 16, 18, 27, 64, 75]. These terms can also be influenced by the business culture, the company’s reputation, and the quality of the work environment [76]. However, both terms are linked and depend on business performance and the cultural environment of the moment [88].

3 Implementing CSR in Green Entrepreneurialism

Recent studies have determined “the green wave” in a bifurcation of two elements which are entrepreneurship and innovation [49]. Green entrepreneurship is a new proposal, which has emerged due to various associations’ environmental concerns and because society demands greater transparency in its reporting [14, 110]. Moreover, sustainability and corporate social responsibility (CSR) are nowadays two primary characteristics for value creation in all areas [22, 107], and their success lies in the low pollution of their environment [105]. Social media has boosted the concept of green entrepreneurship among young people with environmental campaigns [68], so CSR-based information about a company has a transactional view [99]. Also, the pandemic has made CSR play a key role in companies [30, 106], as they receive positive feedback from their target audience and both internal and external stakeholders [80].

There are two types of CSR-related activities. Firstly, there are the external ones, and these are the social tasks in an environmental framework that build the company's originality and reputation concerning external stakeholders [25, 31]. Secondly, we find the internal ones focused on its employees’ psychological and physiological well-being [25, 104, 113]. In this last point, it is essential to highlight that the opportunities are equal, and the health and safety are relevant of each member of the organization, as well as positively improving the reciprocal commitment of the employees with the company [81].

4 Business Cases that Incorporate CSR as a Strategy in the World

Given the growing concern for implementing sustainability, integrating action not only by policies but also by individual parties such as companies [81], the strategies implemented by businesses are becoming more conscious when talking about their impact in social and environmental terms [109] thus significantly evolving the concept of CSR at the corporate level, involving organizations from all sectors and extending to a global level [92] (Table 1).

Table 1 Incorporation of CSR as business strategies
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The application of CSR not only seeks to encourage the implementation of activities with a positive impact on society and the environment, considering animal, human, and plant health, but also integrates the search for innovative solutions that allow the growth of the economy, the creation and development of sustainable processes, and the modeling of competitive advantages [1, 81], these results will be reflected in aspects such as an increase in the strategic positioning of the company that applies it, in addition to also show improvements in business efficiency and improve in turn the adaptation to the dynamics of the environment in which it operates [92]. According to Samaibekova et al. [102], CSR integrates brand value and engagement with job creation for sustainable domestic results, additionally, to captivate the entire workforce, companies must also include digitalization as a strategy in their CSR practices [81]. However, when talking about small businesses, they may face greater technological challenges compared to large companies that have a large presence in the same industry, this aspect is due to the possibility of developing a poor knowledge management in the subject (difficulties to have access to the Internet, fear of failure, generate little presence or activity on the web, or simply not knowing how to develop specific strategies for the use of technology) [109] in a complementary manner, mention may be made of what has been expressed by Lozano [82], who mentions that, in a complementary way to CSR strategies, such business systems are combined with technological techniques and solutions. In brief, the cases observed show that companies, regardless of their sectors, that opt for a sustainable path and therefore contribute to the overall growth of CSR, are committed to actions that reflect a positive impact on social transformation, integrating the community, industries and the environment [59, 92].

5 Green Corporate Image (GCI)

The concept of corporate image (CI) can be defined as the intended overall impression an organization has regarding its various stakeholders [24, 96, 103]. For instance, a company's corporate image is a very distinguishing trait in the eyes of both internal and external participants and their relationship with the entity in question [24, 60, 103]. Organizations devote significant resources, such as capital, time, and personnel, to establish a positive CI [60, 96, 97]. Previous research reveals that organizations with a positive CI tend to achieve a higher position in the market and achieve a competitive advantage over their competitors, as they maintain a beneficial perception in the eyes of the public [24, 60, 96, 97].

Several studies have looked at the green corporate image (GCI) in various businesses [20, 96]. Green corporate image, in turn, refers to how stakeholders can perceive a firm's environmental principles and practices [6, 20, 36]. GCI has been shown to have a variety of effects on a range of different organizational aspects, including employee work-life, managerial and business performance, motivation, purchasing intentions, etc. [6, 24, 36, 96].

Field studies suggest a correlation between green corporate image and consumer satisfaction, along with brand loyalty and organizational performance [6, 36, 60, 116]. An increasing number of businesses are attempting to promote themselves as sustainable and environmentally aware brands [6, 23, 36]. Thus, to remain competitive in an ever-shifting market, businesses are pressured to adapt their marketing plan and advertising strategies to appear more sustainable, as modern trends dictate [23, 24, 96]. However, this has also influenced the adoption of harmful corporate practices such as greenwashing [23]. Greenwashing is known as the deliberate dissemination of positive information from a company while concealing harmful practices to project a deceitfully favorable corporate image [17, 23]. The methodology of greenwashing is intended to make a firm, product, or brand appear more environmentally sustainable than it is through various marketing tools conveying misinformation, in order to create a positive corporate image among the public [17, 23, 36].

The notion of the corporate image, however, is inextricably tied to the firm's environmental legitimacy [24, 60, 116]. Since environmental legitimacy is highly dependent on the impression of the firm's environmental performance, business executives may increase the firm's integrity by acting on such perceptions through the enhancement of the company's green image [6, 24, 36, 60, 116]. As a result, for businesses that operate in ecologically sustainable industries featuring significant social and environmental implications, cultivating a solid green corporate image in the perception of their stakeholders is an inherent requirement for development and growth [6, 23, 24, 60, 116].

6 Business Cases that Use GCI as a Strategy in the World

Progressively, companies started stressing the recyclability, sustainability, and environmentally innocuous nature of their goods, encouraging ecologically responsible consumer habits, and investigating green market prospects to foster a green corporate image and business culture [6, 23, 36]. Green advertisement for maintaining the long-term viability of marketing campaigns soon gained popularity, becoming commonplace [6, 24, 36, 60, 116] (Table 2).

Table 2 Examples of GCI as a business strategy
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Environmental awareness has risen quickly in the last decade, as businesses have progressively begun to include environmental protection principles into their research and development agenda, product manufacturing, and advertisement [2, 20, 37, 78]. In turn, consumers also pay close attention to whether products are environmentally friendly and whether brands adopt eco-friendly practices [6, 112]. The introduction to the concept of green marketing, this term refers to how businesses approach the environment, integrating it as one of their core values, working towards a GCI, to establish a brand that is more valuable to the public [37, 93, 116].

In recent years, green marketing has flourished [56, 112]. Due to customers’ growing knowledge and expectations of environmental preservation and increased market rivalry, several businesses have begun to use green marketing as a strategy for growth [56, 93, 112, 116]. As a result, various firms have turned to green marketing as a critical component for surviving in intensely competitive industries, encouraging the audience to acquire green goods and services, fostering brand loyalty through a GCI, raising market share and cash flow, and ensuring economic sustainability [6, 37, 96, 112, 116].

Recent suggested lectures about green approach

  • Waste reduction and carbon footprint [62]

  • Material selection for circularity and footprints [91]

  • 3D Print, circularity, and footprints [45]

  • Virtual tourism [45]

  • Leadership for sustainability in crisis time [4]

  • Virtual education and circularity [38]

  • Circular Economy for packaging [34]

  • Students oriented to circular learning [46]

  • Food and circular economy [41]

  • Water footprint and food supply chain management [74]

  • Waste footprint [8]

  • Measuring circular economy [48]

  • Carbon footprint [55].

7 Closing Remarks

Since the emergence of the concept of green and sustainable, the products and services offered have faced a change, including all the dimensions that go through the same to be conducted from sender to consumer (e.g., selection of raw material, clean production, sustainable logistics, transportation regulations, and disposal) [77, 82, 109]. Among the reasons for responsible and sustainable consumption and activities to continue to increase, it is given to the effects of environmental and social levels that consumption entails [82]; in this way, the consumer is aware of what they are looking for and prefer, altering their behavior and purchase intention [63], which the brands evaluate to generate preference and encourage reputation and loyalty [6]. Thus, to lessen the negative impact on our surroundings, different corporate activities are modified with a more sustainable vision, creating new business model opportunities, including ventures which also offer innovative changes in the business mentality and the way to serve the changing market to ensure consumer satisfaction, and maintain the balance between environmental, social, and economical care [68, 77, 82,83,84]. In this sense, companies have been implementing CSR strategies for some decades now, and they also seek to work on their corporate image so that consumers are kept informed of what the companies offer [6, 63].