Year: 2023 | Month: September | Volume 68 | Issue 3
The Policy of Forming a Socially Responsible Business: Strategies and Opportunities for Implementation
Liudmyla Yefimenko
Oleksandra Vahonova
Olena Bondar
Vadym Pokolenko
Irina Yakymchuk
DOI:10.46852/0424-2513.3.2023.23
Abstract:
The article represents a study of the objective foundations and specific forms of implementation of the social responsibility of business, associated with the need to determine the fundamental reasons for its functioning and development trends in the world community. The country (world region)-based analysis concludes that there are significant conceptual differences in the models of state participation in the formation and implementation of business efforts in the framework of socially responsible behavior. At the same time, the “unifying” role of voluntary CSR standards set out in the documents of the Global Reporting Initiative (GRI) is shown, which are intended for use by organizations regardless of size, industry, and location reporting prepared in accordance with these standards determines a positive
image of companies in the eyes of both government regulators and consumers and investors, and is a kind of tool for companies to compete, including on an international scale.
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