Abstract
The need to make future-oriented rather than past information available to users has arisen due to the competitive environment and in the context of accelerating the globalization process. Organizations are required to develop new strategies to remain competitive in the long term.
Highlights
By adopting a socially responsible conduct, organisations obtain many advantages, differentiate themselves from competitors and bring their contribution to the sustainable development
Different categories of stakeholders are exerting increasing pressures for the responsible performance of economic activities, James, M.L., (2015). These tendencies are manifesting more and more strongly in Romania, especially after the moment of integration into the European Union. Those organisations that will understand the importance of the new requirements and will act in due time regarding the development of a corporate social responsibility are in advantage (CSR Corporate Social Responsibility)
Step two: in this stage, based on the documentation made in step one, one proceeded to the performance of a research study that consisted of following the way in which the OMV Petrom Group captured the social responsibility aspects in the integrated reporting
Summary
By adopting a socially responsible conduct, organisations obtain many advantages, differentiate themselves from competitors and bring their contribution to the sustainable development. Different categories of stakeholders are exerting increasing pressures for the responsible performance of economic activities, James, M.L., (2015). These tendencies are manifesting more and more strongly in Romania, especially after the moment of integration into the European Union. Managers could try to maximise the benefits and value of their business, satisfying the expectations of interested parties. The objective of the paper is to identify the challenges in disclosing aspects of corporate social responsibility in integrated reporting Once these aspects are identified, we analyze the extent to which OMV Petrom has complied with the five essential principles of the organization's ability to create long-term value
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