Abstract
Financial and banking industry are exposed to enormous progress in technology in order to benefit people and companies. Even governments are preparing to move ahead from cash to a cashless economy, it is essential to look deeper how the success of the digital transformation can influence the corporate social responsibility (CSR). The research object is CSR in the digitalization era focusing on accounting and finance services. The objective of this research study is to focus on the integrity of CSR and digital technologies in finance sector assisting in human decision making, business managerial approaches towards well-being of society are analysed. Then concepts generating benefits for the society are systemized in their historical development and their analysis and comparison are applied to highlight common features, discrepancies and deviations from CSR in their historical perspective. The contributions of the paper comprise in stressing the historical perspective of CSR development and its enhancement, emphasizing selected historical personalities that impacted with their work the CSR development, and finally the necessity of integration of CSR and finance world in the digital age, i.e. the digital process of accounting and financial services. This process should contribute to the crucial SDG accomplishment–“the well-being of society”.
Highlights
The digitalisation has been entrenching into the economy of the 21st century
But accounting, financial services and banking industry are exposed to the tremendous progress in the technology, digitisation, social media, and mobility that may be beneficial to people and organizations
CSR concept implementation and CSR complements and deviations are examined in the following part leading to the research results and discussion where CSR and related concepts from the development perspective in time are systemised and financial services implemented in symbiosis with CSR in the digital environment. As it implies from the abovementioned, the 21st century challenge is to successfully implement the process of digital transformation into society, the business life area or governmental organizations or variety of institutions but in symbiosis with concept of corporate social responsibility
Summary
The digitalisation has been entrenching into the economy of the 21st century. It has offered upgraded ways of economic production and consumption in many sectors. CSR concept implementation and CSR complements and deviations are examined in the following part leading to the research results and discussion where CSR and related concepts from the development perspective in time are systemised and financial services implemented in symbiosis with CSR in the digital environment As it implies from the abovementioned, the 21st century challenge is to successfully implement the process of digital transformation into society, the business life area or governmental organizations or variety of institutions but in symbiosis with concept of corporate social responsibility. The historical development was systemised till 2015 year in the research work of Gerde and Wokuch [3], in addition we concluded that certain deviations and complements of the CSR concept after 2015 are leading to enhanced CSR concept with its CSR-quality product that we defined, for which criteria must be identified and tested for products of the variety of industry sectors
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