The social responsibility of corporations long remains a significant interest to the stakeholders. Every year, corporations around the world spend a huge amount of money as part of corporate social responsibility (CSR). But, in recent times, it has been argued that CSR is outlived, and it is time to focus on accountability. The emphasis is on inclusivity i.e. including all the stakeholders in the operational scope of corporations. Complying with this, a new type of corporation emerged around the world, for example, Social Business Corporation, Benefit Corporation, and Flexible Purpose Corporation. The Community Interest Company (CIC) is the UK variant of that.

Required: With reference to the relevant literature and at least one CIC in the UK, write an essay justifying your agreement or disagreement with the statement that community interest companies adequately consider communities.