Nowadays companies try to strike a balance between maximizing their profit and being socially responsible. On the one hand, a lot of scientists and economists admit that the primary goal for any company has been and still is to maximize profits of shareholders. On the other hand, some other experts believe that a company nowadays should not concentrate only on pursing profits. Some other objectives are connected with interests of stakeholders, ethical and moral behavior of a company and others. Based on the analysis of theoretical approaches, the paper offers to unify different groups and their interests and goals. The authors during the research come to the conclusion that the development of CSR in Russia is directly connected with the country’s peculiarities and at the same time all European best practices are taken into consideration and relied upon by Russian companies in terms of CSR.
This paper aims to develop a humanistic model of corporate social responsibility in e-commerce, relying on high technology in an artificial intelligence economy. The research is based on the experience of the top 30 publicly traded e-commerce companies, the 16 most responsible companies in the retail industry in the USA, and the leading global and Russian e-commerce business structures in 2020–2021. Based on econometric modeling, it is substantiated that the humanization (qualitative criterion) of jobs provides an increase in revenues of e-commerce businesses to a greater extent than an increase in the number (quantitative criterion) of jobs. The high technology of the artificial intelligence economy (AI economy) makes it possible to maximize the contribution of responsible HRM of the e-commerce business in increasing its revenues. For this purpose, a humanistic model of corporate social responsibility in e-commerce based on high technology in the AI economy has been developed. The theoretical significance lies in proving the need to humanize jobs in e-commerce and revealing the essence of this process. The practical significance lies in the fact that the developed humanistic model will increase the profitability and, consequently, the resilience of businesses to future economic crises that arise against the backdrop of the COVID-19 pandemic.
Introduction. As the Sustainable Development Goals (SDGs) adopted by the UN in 2015 offcially specify the current global challenges, they will positively affect the activity of all social institutions in the near future. This article considers the potential competitive advantages that business will acquire providing its engagement into the implementation of the SDGs. The authors suggest that the private sector’s involvement in the global sustainable development related issues has become one of the essential factors of business long-term competitiveness. The article also reviews the leading multinational companies’ solutions and initiatives aimed at the achievement of the socially oriented SDGs. Based on these business cases, the authors identify the key trends that characterize the private sector’s participation in the fulfllment of the Agenda 2030 for Sustainable Development.Materials and methods. General and private scientifc methods of cognition (analysis, synthesis, abstraction, generalizations, deduction and induction) form the methodological basis for this study.Results of the study. In the course of the study, the authors disclose several trends that characterize the private sector’s participation in the implementation of the “Agenda 2030”. Besides the companies’ aspiration to participate in the implementation of the SDGs that directly concern their core business operations, many multinational corporations nowadays actively contribute to the achievement of the socially-oriented SDGs which facilitates the resolution of many macroeconomic problems. In addition, there is an obvious trend of cooperation between the private sector and other stakeholders – primarily, governments and nonproft organisations. They create multi-stakeholder partnerships that allow the participants to pool resources and reinforce the positive effects within the implemented projects.Discussion and conclusions. Nowadays the SDGs present a particular guidance for the private sector, so the multinational companies have to review their business strategies in accordance with the challenges formulated on the global agenda. This study revealed the substantial competitive advantages that corporate sector would enjoy in case of its engagement in the implementation of the socially-oriented SDGs.
Introduction. The purpose of this article is to verify the assertion of most foreign modern authors that the introduction of ESG principles leads to improved competitiveness of modern corporations. The analysis is based on the most relevant theories of competitiveness in terms of intangible factors of competition. In order to test the hypothesis of the impact of ESG principles on competitiveness, the authors have analysed the correlation between companies’ revenues and their S&P Global ESG score. The analysis was based on 87 ESG-leaders operating in different industries. Materials and methods. The analysis is based on the theories of competitiveness set out in the works of P. Sraffa and M. Porter. Results of the research. As the potential of tangible factors of competition is next to exhausted, the focus is shifting to intangible factors, i.e. to meeting specific consumers’ demands, taking into account social and environmental factors in the process of production. In accordance with current trends, satisfying these needs is achieved by implementing ESG principles. However, it remains an open question whether this enhances the competitiveness of the company. According to the results of the study, implementing ESG principles in the activities of companies is not a guarantee of increasing the competitiveness of the company. Discussion. Despite the results obtained, the authors argue that companies should not abandon the implementation of ESG principles. Companies may receive some benefits by luring investors who adhere to the principles of responsible investing, or by being listed on stock exchanges that require ESG disclosures, which allows companies to demonstrate to stakeholders their commitment to ESG or simply to be listed on some stock exchanges. Implementing ESG factors and initiatives does not in itself lead to an increase in a company's competitiveness. However, non-participation in this process in today's environment puts the company at risk of underinvestment and lower consumer demand.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.