While Corporate Social Responsibility (CSR) has traditionally been the domain of the corporate sector, recognition of the growing significance of the Small and Medium Sized Enterprise (SME) sector has led to an emphasis on their social and environmental impact, illustrated by an increasing number of initiatives aimed at engaging SMEs in the CSR agenda. CSR has been well researched in large companies, but SMEs have received less attention in this area. This paper presents the findings from a U.K. wide study (...) of socially responsible SMEs. The 24 companies studied were chosen as “exemplars” of␣CSR in SMEs. The aim of this study therefore is to progress understanding of both the limitations on and opportunities for CSR in SMEs through the exploration of exemplary characteristics in the study companies. Key areas of investigation were CSR terminology, the influence of managerial values, the nature of SME CSR activities, motivation for and benefits from engaging in CSR, and the challenges faced. The results of this study demonstrate some of the exemplary goals and principles needed to achieve social responsibility in SMEs, and begin to provide knowledge that could be used to engender learning in other SMEs. In particular, there is evidence that stakeholder theory may provide a framework in which SMEs and CSR can be understood. SMEs prefer to learn through networking and from their peers, so this is a possible avenue for greater SME engagement in CSR. This would require strong leadership or “championing” from individuals such as highly motivated owner–managers and from exemplary companies as a whole. (shrink)

In their book ‘Corporate Social Opportunity’, Grayson and Hodges maintain that ‘the driver for business success is entrepreneurialism, a competitive instinct and a willingness to look for innovation from non‐traditional areas such as those increasingly found within the corporate social responsibility (CSR) agenda’. Such opportunities are described as ‘commercially viable activities which also advance environmental and social sustainability’. There are three dimensions to corporate social opportunity (CSO) – innovation in products and services, serving unserved markets and building new business models. (...) While small‐ and medium‐sized enterprises (SMEs) have traditionally been presented as non‐entrepreneurial in this area, this paper demonstrates how SMEs can take advantage of the opportunities presented by CSR. Using data from 24 detailed case studies of UK SMEs from a range of sectors, the paper explores the numerous CSR opportunities that present themselves to SMEs, such as developing innovative products and services and exploiting niche markets. There are inevitable challenges for SMEs undertaking CSR, but by their very nature they have many characteristics that can aid the adoption of CSR; the paper explores these characteristics and how the utilisation of positive qualities will help SMEs make the most of CSOs. Integrating CSR into the core of a company is crucial to its success. Using the case studies to illustrate key points, the paper suggests how CSR can be built into a company's systems and become ‘just the way we do things’. There are a number of factors that characterise the CSO ‘mentality’ in an organisation, and Grayson and Hodges's book describes seven steps that will move a company in the direction of a ‘want to do’ CSO mentality. This paper adapts these steps for SMEs, and by transferring and building on knowledge from the 24 detailed case studies, it develops a ‘business opportunity’ model of CSR for SMEs. (shrink)

In 2006, young people were flocking to MySpace, discovering the joys of watching videos of cute animals on YouTube, and playing online games. Not many of them were watching network news on television; they got most of their information online. So when NBC and MIT launched iCue, an interactive learning venture that combined social networking, online video, and gaming in one multimedia educational site, it was perfectly in tune with the times. iCue was a surefire way for NBC to reach (...) younger viewers and for MIT to test innovative educational methods in the real world. But iCue was a failure: it never developed an audience and was canceled as if it were a sitcom with bad ratings. In _The More We Know_, Eric Klopfer and Jason Haas, both part of the MIT development team, describe the rise and fall of iCue and what it can teach us about new media, old media, education, and the challenges of innovating in educational media. Klopfer and Haas show that iCue was hampered by, among other things, an educational establishment focused on "teaching to the test," television producers uncomfortable with participatory media, and confusion about the market. But this is not just a cautionary tale; sometimes more can be learned from an interesting failure than a string of successes. Today's educational technology visionaries might keep this lesson in mind. (shrink)

Competition law is rooted in economic theory, and economics provides many of the standard tools often applied in competition investigations. As a result, a strong foundation in economics is an invaluable asset for practitioners in this area of law. This is the new edition of the popular and well-regarded practitioner guide to the economic principles of competition law. Written in accessible language for non-technical readers, it covers first economic principles by applying them directly to competition cases. It covers all major (...) topics in competition law where economics is relevant: the core themes of market definition, market power and dominance, mergers, and anti-competition practice, as well as less familiar but important areas such as state aid, remedy design and damages. Topics are introduced by posing compelling questions based on real cases from around the world. The new edition has been updated to include important recent developments in competition law, and new economic approaches. (shrink)