Date of Graduation

5-2024

Document Type

Thesis

Degree Name

Bachelor of Science in Business Administration

Degree Level

Undergraduate

Department

Accounting

Advisor/Mentor

Jarnagin, Robyn

Abstract

This thesis investigates the foundational aspects of small family firms to understand how their unique characteristics create differences among various types of firms. This review examines five key business components: operations, longevity, innovation, succession, and decision-making within these firms. The analysis in this report focuses on businesses that operate within the United States. When considering the American economic model, it is also vital to consider the corporate social responsibility (CSR) of small businesses and, due to its emergence as an integral aspect of contemporary business practices, the impact on society, the environment, and stakeholders. While CSR is frequently associated with larger corporations, it is equally imperative to consider the CSR initiatives undertaken by small family businesses, given their substantial presence in the business landscape. This research explores the intricate relationship between small family firms and CSR, examining the distinctive opportunities and challenges these enterprises encounter as they embrace and navigate the realm of corporate social responsibility. I will use personal, real-world experience working for a small family firm in rural Arkansas, Pocahontas Aluminum Co., in conjunction with published literature to highlight and provide insight into these differences and their impact.

Keywords

Accounting, Finance, Small Business, Family Firm, Corporate Social Responsibility, Rural

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