Toward economic reward: Corporate social responsibility communication of SMEs

Abstract

In business world of today, small and medium-sized enterprises (SMEs) play the part of an increasingly important role in the world economy. Currently, SMEs are thought to be the backbone of economic growth in many countries, contributing to the creation of job opportunities and acting as suppliers of goods and services for large organizations. Internationally, various studies are related to the importance of SMEs for a country's development and economic stability. SMEs also play an important role in European economies and their form according to some authors is a pillar of business structure. Academics emphasise in many ways Corporate Social Responsibility (CSR) as a mantra for our time, a time which they characterised as 'the era of compassionate capitalism' or 'the age of sustainability'. CSR communication is an important element of the strategic approach to communication, which rests on the idea that enterprises can create a strong identity by implementing a systematic and proactive strategic communication practice within their organisations, establishing the way for 'the building and maintaining of favourable reputations and relationships with key stakeholders'.

Keywords

• corporate social responsibility (CSR)
• CSR communication
• small to medium sized enterprises (SMEs)