Social responsibility and modern business during the global crisis: Threat or opportunity for the GUAM member countries

Abstract

The article aims to substantiate the relationship between the components of corporate social responsibility in business (CSR) during the economic integration of the GUAM member countries on the principles of sustainable development. We used the questioning to determine the structural elements of CSR of the GUAM member countries and econometrically analyzed the level of development of CSR for each country. The GUAM countries' hierarchical structure of CSR business was established using the Granger causality test and the graph method. This study proves that in times of crisis, along with economic responsibility, a fundamental role is played by national responsibility in ensuring justice, equality, and peace (for Georgia, Azerbaijan, and Moldova). And in the conditions of a full-scale war (in the example of Ukraine), national responsibility, responsibility in ensuring justice and equality, and peace are more significant than economic responsibility. The conclusions obtained are practical and may help develop strategies for effective economic cooperation between countries within the framework of GUAM.

Assessing the role of sustainable strategies in alleviating energy poverty: an environmental sustainability paradigm

“…Handelman and Arnold (1999) argued that a CSR initiative is a crucial instrument of company use to show its commitment to stakeholder norms and expectations (Handelman and Arnold 1999). CSR integrates environmental and social responsibilities into business activity; a social entrepreneur resolves a social or ecological problem by applying a business model and establishing a positive social change (Barauskaite and Streimikiene 2021;Priede et al 2014;Tiurina et al 2023). In addition, CSR means the ethical behavior of a company toward society (Carroll 2021;Davis et al 2017;García-Rosell et al 2023;Singh and Misra 2022).…”