Evaluation of Strategies to Improve the Corporate Social Responsibility Performance in Food and Pharmaceutical Industries: Empirical Evidence from Iran

Sara Mehrab Daniali,Sergey Evgenievich Barykin,Mostafa Ghanbari Ghalerodkhani,Oksana Vladimirovna Savvina,Diana Igorevna Stepanova,Andrey Viktorovich Kharlamov,Tatiana Lvovna Kharlamova

doi:10.3390/su132212569

Abstract

Since there is a lack of a strong CSR platform in the Iranian corporate environment, especially in the food and pharmaceutical industries, the proposed and existing strategies can be utilized to empower employees and the general public, improve executive processes, improve quality and customer satisfaction, and finally, organize financial and accounting reports. Hence, this study seeks to determine and evaluate strategies to improve the concepts and domain of corporate social responsibility (CSR) of food and pharmaceutical industries in Iran based on the requirements of sustainable development theory. This study analyzes the data of 22 companies active in the food and pharmaceutical industries listed on the Tehran Stock Exchange (TSE) over a period of six years (2014–2019). Eighty-three indicators were used to evaluate the performance of social responsibility based on economic, social and environmental dimensions. The Pareto approach has been used to determine the most important unmet current requirements. Then, using the Delphi method and content validity, appropriate strategies were determined. Finally, a correlation matrix was used to determine the most important and comprehensive strategies. Findings showed that 14 requirements in the field of corporate social responsibility are of great importance and with six strategies, the necessary measures to meet those requirements can be covered.

Highlights

In dividing the components of social responsibility, we have identified three pillars: economic, social and environmental [8], so that the corporate social responsibility (CSR) assessment can be done by three areas: the interests of shareholders and employees, social and public interests, and environmental considerations
They are the only companies in these industries which follow the CSR codes of Iran which observed by the Tehran Stock Exchange (TSE)
The authors of this paper suggest that the discussion on corporate social responsibility and sustainability is a key issue in the current business environment

Summary

Introduction

While governments have traditionally been solely responsible for improving the living conditions of the people, societies need more than what governments can afford. In this regard, the focus is shifting from governments to the role of the economic activities of individuals and companies in society, and is focused on businesses. Progressive companies seek to differentiate themselves from others in terms of engagement and attention to social responsibility [1]. The emergence of the concept of corporate social responsibility (CSR) in the economic, scientific and political circles of the world in recent decades can be attributed to the more complex business environment, globalization of the economy and the emergence

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Conclusion