Is engagement in CSR motivated by the defined values of entrepreneurs? An analysis of small and medium-sized enterprises in Germany

Abstract

Companies have a high impact on responsible living while caring for Corporate Social Responsibility (CSR). Entrepreneurs engaged in CSR often claim that they act on the basis of ethical values, namely through value orientations such as Universalism and Benevolence. In this investigation, the value orientations of the entrepreneurs, managing and owning small or mediums sized enterprises (SMEs), have been measured with the Schwartz Values Survey and have been related to their engagement, e.g., for the environment and their employees. The results are: Greater engagement for the environment and employees is correlated with greater Universalism and Benevolence. Unexpected positive correlations were found between the values Security, Tradition, Stimulation and Engagement to Employees respectively Engagement to the Environment. No correlations were found in the categories Achievement or Power. CSR finally does correlate with some desirable results of the companies, such as profit or a reduction in customer complaints. Therefore, CSR should be of strategic relevance to the entrepreneurs of SMEs.