The Implementation of Corporate Social and Environmental Responsibility Practices into Competitive Strategy of the Company. Marketing and Management of Innovations

Abstract

In modern conditions of the development of globalization processes, any advantages are important for each company in the competitive struggle for the consumer. One of them is the implementation of corporate social and environmental responsibility measures and taking into account its practices in the formation of the company's competitive strategy. The study considers the issue of mechanisms for implementing corporate social and environmental responsibility in companies. The main purpose of the research is to determine corporate social and environmental responsibility role in ensuring the company's competitiveness and to substantiate the methodology of corporate social and environmental responsibility integrated assessment based on the indicators that allow for the needs of stakeholders to be taken into account. It is confirmed that an effective mechanism for corporate social and environmental responsibility implementation by companies is to take into account its practices in the formation of a competitive strategy. The authors analysed the companies' competitiveness indicators that are determined by corporate social and environmental responsibility. It was suggested to use the 4P-complex of corporate social and environmental responsibility for assessing the competitive advantages of the company. It synthesizes such components as follows: People, Planet, Profits and Partnership. These components are characterized by relevant indicators. To assess the effectiveness of implementing the corporate social and environmental responsibility principles into the company's competitive strategy, the authors suggest using the integral corporate social and environmental responsibility index, which synthesizes the assessment of company's corporate social and environmental responsibility by indicators of four components-4P-complex. The relationship between the integral corporate social and environmental responsibility index and indicators of individual components is proposed to be determined using the geometric average.

Philanthropy and the Contribution of Andrew Carnegie to Corporate Social Responsibility

“…The idea that the logic of today's corporation might be reconstructed to consider social issues beyond economic rationality stands in contradiction to capitalistic foundations [80,81,[106][107][108], which is particularly reflected in the negation of fourth Carnegie's principle (Figure 5b). Moreover, there is a deep incompatibility between what can be expected as ethical organizational citizenship and the core sense of organizational existence (e.g., gaining profits, market shares, competitive advantage, reducing costs) [109][110][111][112]. This is the conduct of business that will always take priority over other elements of organizational activity, because that is the cause of establishing enterprises [113].…”

A Country's Green Brand and the Social Responsibility of Business

“…Research on the corporate social responsibility evolution in managing labour resources under the conditions of the COVID-19 pandemic and its possible transformations in all spheres of activity are relevant today (Alkubaisy, 2020;Buhaisi et al, 2021;Lyulyov et al, 2022). Scientists also consider the theory of the effective influence of corporate social and environmental responsibility measures on shaping a company's competitive potential under conditions of globalization processes (Celma et al, 2014;Hakobyan et al, 2019;Pimonenko, 2011;Dzwigol et al, 2020a;Miśkiewicz, 2019;Nawawi et al, 2022). The vast range of researchers consider corporate social responsibility as an integral tool in ensuring sustainable development both at the level of companies and at the level of countries (Biewendt et al, 2020;Kurian, 2021;Miller, 2020;Soudi, 2020;Czyżewski et al, 2019;Dementyev & Kwilinski, 2020;Dementyev et al, 2021;Drożdż et al, 2020a;Dzwigol & Dzwigol-Barosz, 2020).…”

Corporate social responsibility in human resource management

“…Так, вони розглядають основні аспекти розвитку корпоративної соціальної відповідальності в контексті впровадження екологічного управління на промислових підприємствах [27,33]. Також активно досліджено питання впливу корпоративної соціальної відповідальності на фінансові показники компаній [2,10,13,21].…”