CORPORATE SOCIAL RESPONSIBILITY AS A BUSINESS STRATEGY TOOL FOR ENTERPRISE DEVELOPMENT

Abstract

The article reveals the relevance of evaluating the effectiveness of socially responsible activities of corporations. The purpose of the article is to analyze current models and methods of assessing the effectiveness of corporate social responsibility in order to determine their advantages for practical use by companies. It was determined that the interpretation of the concept of corporate social responsibility depends on the content and purpose of the analysis of the business environment and business strategy, rules, principles and influence of interested parties. Models of corporate social responsibility (CSR) were analyzed, the features of which are determined by components: economic responsibility, legal responsibility, ethical responsibility, charitable activity (philanthropy). The advantages and disadvantages of the American CSR model are identified. The European model is analyzed, in which, depending on the features, the continental, British and Scandinavian models are distinguished. The features of the Japanese CSR model and its advantages are revealed. It is established that CSR is implemented through programs of internal, external and mixed types. Three approaches to assessing CSR are defined (minimalist approach, which is based on assessing the degree of compliance by the company with the rules and obligations provided for by law; approach, which is based on highlighting one or several key areas of corporate social activity; complex approach, which is based on a holistic view of CSR, which determines the measurement of a large number of social, environmental and economic indicators). The problem of assessing the effectiveness of CSR is defined, which boils down to the development of a unified procedure or methodology for determining the effectiveness of social investments. The areas of CSR assessment are outlined in accordance with ISO 26000 "Guidance on social responsibility". An analysis of the most common methods of assessing CSR effectiveness was carried out (Social Return on Investment (SROI), LBG method, Dow Jones sustainability index, BACO index, effective social investment and social partnership program, use of Robin Hood Foundation metrics, FTSE4 Good Index). The trends in the development of CSR, which companies should take into account in their activities, have been determined.