The Importance of Corporate Social Responsibility in Lithuania's Finance and Telecommunication Industries

Abstract

Companies in Lithuania follow international trends of social responsibility and start to declare their social responsibility to create positive consumer attitude. However, it is not determined if socially responsible activities are noticed by consumers and if they are noticed, are these activities perceived positively. Therefore, the purpose of the article was to identify the Lithuanian population approach to social responsibility declaring companies from telecommunications and financial services sectors. The content analysis of public information from 3 telecommunication companies and 6 finance companies was performed and 6 companies selected for further analysis. The survey of 95 respondents was carried out, which revealed that particularly in telecommunications and financial services sector consumers prefer service quality and consumers satisfaction more than social responsibility, although in general consumers approve socially or environmentally oriented actions by the companies.