Abstract
The transformative power of economic policies in the European market increasingly brings into question the responsibility of business leaders about the effects of corporate activity on the social environment. Following the trend of achieving competitive advantage in the market and ensuring sustainable development through the production of sustainable social values, world business leaders apply the concept of social responsibility within the corporate governance. For the contemporary world, the approach represents a new model of economic democracy, whose political function is mirrored in their efforts to achieve sustainable development based on economic, environmental and social justice. The main focus of scientific interest is placed on the process of creating CSR policies determined by the EERI framework of Organizational performance as a process on organizational level and integration of CSR concept into organizational strategy. The research was conducted in 155 Macedonian companies from a deliberate target sample of companies. According to the principles of general methodology and specifics of the subject, the research was conducted on two levels: theoretical and empirical. The results of the research confirmed the significant influence of each of the dimensions of the organizational performance framework (EERI) on the process of creating CSR policies.
Highlights
The survey was conducted on a purposeful sample of respondents, i.e. 155 Macedonian corporate systems (87 private companies and 68 state institutions) from total population of 237 companies registered in period of 7 years for annual Corporate social responsibility (CSR) prize
The strategy for CSR is a reflection of the organizational sensitivity on a series of social, environmental and economic pressures
Considering the fact that the process of strategizing as a concept has two faces, institutional, through which the concept is designed in a strategy, and operational from the aspect of the design of the strategy and policy for the SR, it is inevitable to have in mind the three basic aspects of the institutional work: the organizational culture, organizational policy and operating procedures
Summary
Social changes with an environmental and political dimension, which are the result of the intensity of globalization and liberalization, put in question and emphasize the responsibility of organizations to society. The implementation of SR policies in organizations from developed countries leads to changes provided these policies are incorporated in organizational and business strategies with clearly defined and measurable objectives. These objectives should provide basis for a further step towards maintenance, ethical and competitive action. 374 Contemporary Strategic Approaches for Social Value Creation based on Dimensions of Organizational Performance strategy of the organization that earn double effect. In the development of the strategic approach, organizations are starting by their performance based on resources, due to the fact that they represent the origination source of competitive advantage and they are the driving force of any corporate strategy
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