CORPORATE SOCIAL RESPONSIBILITY AS A TOOL FOR ENSURING SOCIO-ECONOMIC SECURITY AND SOCIAL INCLUSION

Abstract

Considers the evolution of corporate social responsibility and the formation of the modern paradigm of its development. It was revealed that the modern paradigm of social corporate responsibility defines it as a managerial practice of improving business efficiency based on a balancing of profit and social welfare, an integral element of the organization's development strategy, a factor of its competitiveness and investment attractiveness. It is substantiated that corporate social responsibility is an ethical, legal, ecological, social, philanthropic context of the organization's functioning, which is reflected in long-term participation in CSR-projects that contribute to the improvement of social welfare and increasing the efficiency of sustainable development. The article considers the general trends in the development of modern CSR are: philanthropic support of small businesses, CSR is consistent with stakeholders' values (consumers, employees, managers, owners, investors, suppliers), development of volunteering for employees and virtual volunteering, development of social innovations, development of new approaches for evaluating the effectiveness of CSR-initiatives, development of green technologies, improvement of labour policy, improvement of the non-financial reports of CSR. It was determined that the development of corporate social responsibility will be determined by the digitalization of CSR-activities, the growth of employee engagement, the glocalization of the CSR business model, the full supply chain accountability, the inclusion of CSR in the crisis management system, CSR as a tool for ensuring social equality and social inclusion.