Corporate Social Responsibility

The processes accompanying state social policy over recent decades as well as their contradictory impact on the sustainable development of the society are one of the fundamental problems of our time. Nowadays, there are still no clear solutions to the debate how to alleviate some of the fundamental problems like environmental pollution, poverty, aged population, income inequality, social exclusion, etc. This chapter aims to show how multinational corporations (MNCs) take the role to solve these issues following some corporate social responsibility (CSR) policies. In this way, they offer a means by which the current CSR model can be used more effectively to achieve these sustainable development targets. The structure of the chapter is organized as follows: Section 2 presents an evolution while Section 3 provides a summary of some contemporary views of CSR. Section 4 describes the way in which CSR is used as a sustainable development tool.

Corporate Social Responsibility in Emerging Economies

India, a developing and the second largest populated country in the world after China, is characterized by many burning issues like unemployment, low literacy, lack of modern medical facilities mainly in rural areas, lack of connectivity of the rural areas with the mainland cities, and the like. Although government has been working on all these issues and has been very much successful, it is not possible for the government alone to solve all the issues in such a vast populated country in a desired period of time. Amidst such situation, it is the corporate sector that can play a bigger role in the development of the society through its CSR initiatives. This chapter attempts to study corporate social responsibility, its role and issues in a developing country with special reference to India. The findings show that lack of understanding, inadequately trained personnel, lack of proper policy making, lack of participation of the local people, and so on affects the reach and effectiveness of CSR programs in India.

The Market for Socially Responsible Investments

This chapter explains how socially responsible investing (SRI) has evolved in the last few decades and sheds light on its latest developments. It describes different forms of SRI in the financial markets and deliberates on the rationale for the utilisation of positive and negative screenings of listed businesses and public organisations. It also presents key theoretical underpinnings on the subject and reports that the market for the responsible investments has recently led to an increase in contractors, non-governmental organisations (NGOs), and research firms who are involved in the scrutinisation of the enterprises' environmental, social, and governance (ESG) credentials. This contribution raises awareness on the screenings of positive impact and sustainable investments. It puts forward future research avenues in this promising field of study.

The Energy Policy of Bulgaria

Energy is considered the main input for economic and industrial development. In this context, it is important that countries develop sustainable energy policies in order to meet economic growth and energy demand. Government policies play a critical role in economic growth and incentives for innovation. This chapter summarizes Bulgaria's energy policies as an increasingly important energy transit country due to its strategic location. These policies were presented in line with the European Union energy policies and the solutions of the characteristics of the country. Some of the targets to be implemented are as follows: ensuring energy supply security, achieving RES share targets, energy efficiency improvements, development of a competitive energy market, safe energy needs and protection of consumers, establishment of the necessary infrastructure and diversification of energy resources, strengthening the external relations and solidarity coordinated in the field of energy.

Challenges of Green Economy in Armenia

The economy ecologization process should take into account the development needs of each nation by developing effective systems of production and consumption. That is why in the system of measures ensuring the transition to a “green” economy, overcoming poverty and expanding the livelihoods of the most vulnerable sections of society should be a priority. At the same time, the convergence of economic and environmental policies, where prospects for economic growth are at the forefront, avoiding stress on nature resulting in unpredictable and qualitative implications for natural resources is important. Today, with resource constraints and harmful emissions, the main problem lies in the complete elimination of reliance on economic growth materials and energy resource use, which involves the identification of opportunities to increase the efficiency of the material sectors of the economy.

Corporate Social Responsibility

This chapter examines the extent to which corporate social responsibility (CSR) could generate and boost better brand perceptions and improve competitive advantage within some selected banks in Ghana. The concept of CSR, brand perception, and competitive advantage are discussed in relation to findings from a study that was conducted at the national headquarters of GCB Bank and Barclays Bank Limited in Accra. The results showed a good understanding of the concept of CSR from both customers and employees of both banks. There was a significant and positive connection between effective implementation of CSR initiatives, brand perception, and competitive advantage. CSR was discovered as a tool for business success in the banking sector in Ghana. This chapter explains the benefits of CSR activities to the development of impalpable organizational assets, and as a result, generating better results for banking institutions in Ghana. The authors make a case for the inclusion and active involvement of customers and employees in the CSR initiatives of banks in order to boost brand perception.

Corporate and Financial Social Leadership in Emerging Markets and the Developing World

Corporate social responsibility (CSR) attributes economic, legal, social, and philanthropic responsibilities within the corporate sector. Sustainable financial social responsibility is primarily addressed by socially responsible investment (SRI). This chapter addresses the concepts of CSR and SRI in emerging markets and the developing world with special attention to top-down and bottom-up approaches. Theoretical descriptions discuss the human constituents of responsibility and the international emergence of CSR, with special attention to multi-stakeholder partnerships. The rise of SRI in the international arena in the wake of stakeholder activism and intrinsic socio-psychological motives are outlined. Recommendations target ingraining social responsibility in economic systems by global governance, multi-stakeholder management, and governmental assistance of the implementation and administration of corporate and financial social responsibility.

Motivation for Responsible Behavior Among Russian SMEs

This chapter focuses on identifying motivation for socially responsible behavior in small and medium enterprises (SMEs) in Russia. It also investigates the attitudes of owners and executives of Russian SMEs toward the concepts of business ethics and social responsibility of business. A research set the background of this chapter, including the gathering of primary data through 57 focused interviews. Results of a critical analysis conclude that top managers and owners of Russian SMEs do not thoroughly understand these concepts. However, it also shows that they do not neglect them. Research findings point to a growing level of adherence to the principles of business ethics and responsible behavior. There is strong evidence showing motivation for following principles of ethical and responsible behavior. In addition to an understanding of legal requirements, company owners and top managers are finding that positive relationships between firms and stakeholders are crucial for sustainable performance.

Communicating Socially Responsible Initiatives

The purpose of the chapter is to present results of case studies of socially responsible initiatives and their communication inside and outside the organizations through the official websites impacting their performance and image, as well as to make recommendations for improvements. Investigations focus on forms and goals of initiatives taken by companies in Bulgaria, including examples of the influence of foreign corporate practice and experience. Theoretical and practical basis and trends, international framework, and national institutional positions and support to corporate social responsibility are discussed. Socially responsible activities are analyzed through the official websites in their short- and long-term aspects and links to sustainable development initiatives. Main CSR principles are defined, and a model is proposed containing the main steps of incorporating CSR strategies in companies and linking all that to business communications and public relations. A special focus is put on capacity building and CSR teams.

“It Fits My Business”

For many years, companies have tried to keep the public as close partners. In this bilateral relationship, financial gains of the companies have raised public views on the distribution of these gains. Likewise, regulations and standards determined by supranational institutions such as the United Nations forced companies to give higher priority on CSR activities. The primary purpose of this research is to explain the relation between CSR activities and the preferability of these activities among companies. Summative content analysis is conducted on data collected from the websites of the top 100 companies in the Turkish BIST 100 Stock Index. Findings show that CSR activity choices differ among industries, and these choices unveil related and unrelated differentiation in CSR activities.