Corporate social responsibility and an integrative vision of society - economic and social determinants

Abstract

Objectives The aim of the article is a theoretical analysis of the role and importance of social responsibility of contemporary business in creating an integrative role of society in the context of economic and social processes. This analysis was carried out on the basis of literature research, reports, analyses and expert opinions of national and international institutions. Material and methods As the main research method, induction was used. It consists in deriving general conclusions or establishing regularities on the basis of an analysis of empirically stated phenomena and processes. The research methods used in the work are: comparative analysis, functional analysis and the method of research in dynamic terms. The so-called triangulation of data sources was also used. Results The authors suggest that in the long run economic and social values can coexist. In the first part, the authors show the limitation of a one-dimensional view of economic activity and the related financial model. In the second, they present an integrated vision of the economic world, in which economic and social values can coexist, and finally they present the social model of the organization. Conclusions CSR can be defined as a concept thanks to which companies voluntarily take into account social and environmental interests during building their strategies, as well as relations with various stakeholder groups. Being responsible does not only mean meeting all formal and legal requirements, but also increas investment in human resources, in environmental protection and in relations with stakeholders, i.e. voluntary commitment. Social responsibility is the process by which companies manage their relationships with a variety of stakeholders who can have a real impact on their business success.

Keywords

• social capital
• stakeholders
• corporate social responsibility
• business ethics
• csr