CORPORATE SOCIAL RESPONSIBILITY IN ENSURING AN EFFECTIVE MANAGEMENT SYSTEM OF BANKS 'STAKEHOLDERS' RELATIONSHIPS

Abstract

The management of a modern bank is one of the most important areas of activity, as banks have become at the center of economic, political and social nature. Therefore, there is a need to choose an adequate efficiency model; development and implementation of a system of tools that allow at all levels of the bank to make sound management decisions on resource provision in order to increase its value for all stakeholders, expressed in its profitability and stability of financial relations between them. The paper identifies that social responsibility involves voluntary actions of the bank aimed at taking into account the interests of society, employees, partners and other stakeholders. The bank's corporate ethics is a culture of interaction between management and staff among themselves and with external stakeholders. The main quantitative criteria for assessing the level of social responsibility of banks through the establishment of relationships: staff (labor responsibility), consumers, business partners, society and the environment, the state (economic responsibility). From the point of view of social responsibility management in Ukrainian banks, it has been proved that this system is gradually gaining momentum in terms of its perception by stakeholders. Banks are implementing social activity, but the target audiences are not always interested in learning about social responsibility, or the institutions themselves do not sufficiently advertise their success in this area. Compliance with social responsibility is a definition of responsibilities, a philosophy of management behavior that influences the behavior, actions of all staff of the bank, which in turn contributes to the sustainable development of not only the company but also society as a whole. The conclusions present that modern management principles should contribute to the formation of a set of actions aimed at ensuring the security and development of the internal (welfare of employees, shareholders) and external environment of the bank (social development, environment) in particular and humanity as a whole without violating values. and the rules on which corporate culture is based.

Keywords

• stakeholders
• corporate governance
• corporate social responsibility
• social programs
• banking