Corporate Social Responsibility Management

Gulnara Raisovna Chumarina ,Guzel Azatovna Abulkhanova

doi:10.5430/ijfr.v12n1p270

Gulnara Raisovna Chumarina , Guzel Azatovna Abulkhanova

Open Access

https://doi.org/10.5430/ijfr.v12n1p270

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Abstract

This article considers current trends and features of the development of corporate social responsibility in Russia in the current crisis, the reasons for the lack of organizations activity in the social responsibility field. The article also determines the impact of the company's social policy on the formation of labour motivation and loyalty of company employees, a positive image of the company for both personnel and the environment. Social responsibility is relevant for all types and sizes of organizations, but it has received the greatest development in large public and the private business community. Russian companies are actively involved in this process. The number of such companies is increasing from year to year. Small and medium-sized businesses are gradually connecting to them. And in the current crisis, corporations and large companies are in an environment where charity projects are actually a “matter of honour" for the company. The problem urgency of corporate social responsibility is due to modern requirements for companies presented by society and the authorities to conduct socially responsible business. In turn, this approach to doing business ensures the sustainable development of companies and leads to the creation of a favourable investment and reputation image.

Highlights

While governments have traditionally been solely responsible for improving people's living conditions, societies need more than governments can afford
There is no complete consensus on the definition of corporate social responsibility; The definition provided by the World Business Council For Sustainable Development in 2001 is: "The commitment of business and commerce to work together for sustainable economic development, working with workers, their families, the local community and the whole community so that they can improve their quality of life."; the main idea of corporate social responsibility is that companies are committed to working to meet the needs of a wide array of stakeholders
Corporate social responsibility is a set of management activities that ensure that the positive impact of corporate operations on society is maximized; Or operations that meet or exceed the laws, ethics, business, and public expectations of the business

Summary

Introduction

While governments have traditionally been solely responsible for improving people's living conditions, societies need more than governments can afford. In this regard, the view is shifting from governments to the role of economic activities of individuals and companies in society and is focused on businesses; Progressive companies seek to differentiate themselves from others in terms of the degree of involvement and attention to social responsibility. When a company is committed to its social responsibilities, it can disclose it to stakeholders (Wang & Sarkis, 2017; Advantage, 2020).

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