Abstract
In the process of globalization, the topic of sustainable development is among the most up-to-date and discussed issues. Companies applying the principles of social responsibility are focused not only on profit, but above all on sustainable growth and development. And just the triple bottom line concept represents a tool that enables CSR put into practice and points out that economic interests may not be in conflict with social and environmental issues. The aim of this article includes providing a literature review on the issue from the perspective of several foreign and domestic authors. By using methods of description, comparison, deduction, induction, it discusses the essence of corporate social responsibility, the concept of triple bottom line and also analyses its practical use in the case of the particular company. The secondary data for the analysis were obtained from annual company reports, statistical tables and published professional publications. In order to determine the impact of corporate social responsibility on brand loyalty in the process of globalization, a questionnaire survey was conducted among Slovak consumers. General scientific methods were applied for the processing of the data, as well as mathematical methods to evaluate the data collated from the results of the questionnaire survey. Based on this, benefits of using CSR principles are highlighted, that includes, in particular, building customer relationships, increasing the brand value and gaining brand loyalty. Finally, proposals are put forward for the effective implementation of corporate social responsibility principles in the process of globalization.
Highlights
Increasing globalization has made the concept of corporate social responsibility a positive trend when companies focus on profit but above all on sustainable growth and development
By using methods of description, comparison, deduction, induction, it discusses the essence of corporate social responsibility, the concept of triple bottom line and analyses its practical use in the case of the particular company
In order to determine the impact of corporate social responsibility on brand loyalty in the process of globalization, a questionnaire survey was conducted among Slovak consumers
Summary
Increasing globalization has made the concept of corporate social responsibility a positive trend when companies focus on profit but above all on sustainable growth and development. Social responsibility is a positive tendency [4,5]. Despite the fact that the number of socially responsible companies in Slovakia is relatively low, it has an increasing character. Companies are aware of their negative impact on the environment and seek to eliminate it through the principles of corporate social responsibility, thereby increasing their competitiveness, image and customer loyalty [6, 7]
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