ACCTG 1 Lecture Notes - Lecture 25: Corporate Social Responsibility, Knowledge Economy, Change Management
Document Summary
Chapter 1 entrepreneurship: the social and business revolution. Corporate social responsibility (csr) opportunity to be ethical and to improve competitiveness by differentiation from competitors. Small firms seem to pioneer the economies. Technology boosted entrepreneurship: apps etc developed by start ups, self employment, easier communication, fixed costs reduced due to digitalisation, internet. Move from industrial economy to knowledge economy. Economies of scale less important in the knowledge economy. High proportion of high-growth firms called gazelles hold intellectual property and intangible assets such as trademarks and patents. Social trends influenced the growth of small independent firms. People want to control their own freedom and be self-employed. Mcmillian ( 2004) tackled the question of change and compared 2 views about how change is seen and done. The traditional, classical, mechanistic view and the new, modern dynamic change. view of. Incumbent firms had difficulties to tackle the new wave of change/ opportunities.
