Role of corporate social responsibility in the strategic development of the enterprise

Abstract

The paper examines the role of corporate social responsibility in the strategic development of an enterprise. The need to ensure the strategic development of enterprises based on the principles of socially oriented growth has been proven. The relevance of the study of corporate social responsibility as a factor in the strategic development of the enterprise is substantiated. It is summarized that strategic development built on the principles of socially responsible business contributes to the maintenance of harmonious development not only of the economy, but also of society as a whole. The content of corporate social responsibility has been established through the selection of its constituent elements, namely: economic responsibility (balanced business management taking into account the interests of all stakeholders), social responsibility (ensuring fair and safe working conditions, promoting community development, supporting social initiatives, etc.) and environmental responsibility (conserving natural resources, reducing emissions and other environmental protection measures). The role of corporate social responsibility in the strategic development of enterprises has been established, which consists in the implementation of a number of important functions and tasks that contribute to the achievement of sustainable and successful development of the company. It is substantiated that the ambiguity of approaches to determining the significance of corporate social responsibility is determined by several factors: the subjectivity of assessment, the variability of measurements, the diversity of views, the type of activity and the field of development, the evolution of standards. It is well-founded that corporate social responsibility is a concept that recognizes that businesses have an ethical and social duty to society and the environment, including consumers, employees, local communities and the environment. The importance of corporate social responsibility in the formation of strategically oriented enterprises of a new type is summarized. It was concluded that corporate social responsibility reflects the socially responsible attitude of the enterprise, which is an important element of a favorable business environment and contributes to the sustainable development of the economy as a whole.