Society-Oriented Social Responsibility Compass to Sustainable Growth of Small and Medium Enterprises in Developing Countries

Dr. Kudakwashe Zvitambo; Dr. Bobo Chazireni

Authors

Dr. Kudakwashe Zvitambo
Dr. Bobo Chazireni

Keywords:

society-oriented social responsibility, small and medium enterprises, and sustainable growth

Abstract

Although Society-oriented Social Responsibility has customarily been linked with large companies, Small and Medium Enterprises businesses proved to be a considerable sector in developing countries' economy. Globally, Small and Medium Enterprises constitute as productive drivers of inclusive economic growth and development of many countries. In South Africa, Small and Medium Enterprises make up 91 percent of formalised businesses, providing employment to about 60 percent of the labour force and accounts for total economic output of roughly 34% percent Gross Domestic Product (GDP) of the country. Given the critical socioeconomic role played by Small and Medium Enterprises, it is vital that they grow and succeed. While a number of studies have acknowledged access to finance as a key success factor, similar studies carried out around the world also highlighted the role of social responsibility on the success of Small and Medium Enterprises.

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How to Cite

Society-Oriented Social Responsibility Compass to Sustainable Growth of Small and Medium Enterprises in Developing Countries. (2020). Global Journal of Management and Business Research, 20(A7), 39-45. https://journalofbusiness.org/index.php/GJMBR/article/view/3088

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