The Impact of Recession on the Implementation of Corporate Social Responsibility in Companies

Abstract

During the last few years, companies have had an increasing interest in Corporate Social Responsibility (CSR) and its implications in economic performance and competitive environment. However, as a result of the recent economic decline, CSR and the overall attitude of companies towards socially responsible activities have been affected. This article discusses the shift in the perception of CSR during the economic recession as well as the current implementation of CSR in the corporate sector, especially in a period when features such as financial stability, innovation and competitiveness are crucial. The research was based on a cross-case analysis in three companies. The analysis resulted in the identification of the impact of recession on CSR and an outline of the trends for future development.

Keywords

• Corporate Social Responsibility
• Sustainability
• Recession