Academic journal article E+M Ekonomie a Management

Policies to Promote Corporate Social Responsibility (Csr) and Assessment of Csr Impacts

Academic journal article E+M Ekonomie a Management

Policies to Promote Corporate Social Responsibility (Csr) and Assessment of Csr Impacts

Article excerpt


When implementing sustainable development principles, business should play the core role, and the corporate social responsibility is one of the examples of the active role of enterprises in implementing sustainable development goals. The corporate social responsibility (CSR) describes the companies that are aware of their mission and take responsibility for their impact on society in general. The CSR is vital for sustainability, competitiveness, advance of companies and development of the world economy. The CSR provides benefits for risk controlling, allows cost savings and stipulates affordability of the capital, facilitates stakeholders' relationships and improvement of human resource management. In practice, human rights and corporate social responsibility have become an important aspect of business strategies for many companies.

The corporate social responsibility is central to the sustainability, competitiveness and innovation of the economy of each country and is tightly linked to the success when implementing Sustainable Development Goals (SDGs) by world countries. The importance of CSR has increased in recent years, taking into account the vivid growth of institution, funds, various online platforms and portals that are dealing with the CSR and inspiring enterprises to Improve their practices, according to various responsibility practices and criteria (Guenster et al., 2010; Ghoul et al., 2011). Overall, the CSR definition covers quite different kinds of socially responsible behaviours. All these responsible behaviours can be allocated to three areas: environmental, social and governance (ESG) factors.

The Environmental dimension covers obligations to integrate environmental considerations into all the activities of companies, for example, the designing, manufacturing, supplying and distributing of products.

The Social dimension is associated with positive human resources management, taking into account human rights requirements and includes appropriate training, career development, employee participation, quality of working condition standards.

The Governance dimension is linked to the companies' relationship and interaction with various shareholders such as customers and suppliers, regulation bodies, strategic alliances etc. The main behavioural practices include the prevention of interest conflicts, corruption, fair information supply to consumers etc.

There is a dramatic growth of organizations that are focused on the national and international levels by providing advice and implementing various projects and programs around the world. There are hundreds of CSR that are reporting initiatives and tools all over the world. There are various public policies to promote the CSR that are implemented in different countries. These trends of dramatic growth of the CSR activities indicate that literature on the CSR have already shifted from the issues, which are relevant to the companies' mission and value of the CSR to the firm, to the processes by which companies enact their societal impacts by implementing CSR and to the societal outcomes of this. Therefore, nowadays, the main issue is how societies and countries can benefit from the CSR, especially in terms of dealing with major sustainable development challenges, such as poverty, education, health, energy and environment. Recent scientific discussion on the assessment of impacts of the CSR and measures to promote the CSR provides contradictory results and findings.

Therefore, the aim of this paper is to analyse and categorize public policies and measures to promote the CSR and assess the CSR impacts. In order to achieve this aim, the following tasks have been set:

1. To analyse and systematize recent literature on the CSR;

2. To discuss the main policies and measures and reporting initiatives to promote CSR and their dynamics;

3. To analyse measures for the assessment of CSR impacts;

4. …

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