SOCIAL RESPONSIBILITY OF BUSINESS AS THE BASIS OF THE CRE - ATION OF PUBLIC WELFAREJournal: Innovative Economics and Management (Vol.II, No. 1)
Publication Date: 2016-09-30
Authors : IRMA CHKHAIDZE;
Page : 31-34
Keywords : business; Social responsibility; public welfare.;
Development and implementation of effective policy of corporate and social responsibility is a step on the way to recognition of a company as an image-founder not only in the country, but also in the international market. In the world where reputation and brand are the greatest values, social responsibility contributes to the acquisition of confidence of the company which is a guarantee of its successful and stable future. It makes business more attractive to the partners, causes increase in demand for the goods and services manufactured by the company, contributes to their safety, attraction of labor resources and greater staff loyalty and also to improvement of the relations with the government which is together reflected in creation of more favorable business environment. Managers of the companies actually realize positive influence of corporate social responsibility on activity of the company (its importance in formation of a positive image of the company and in an issue of the consumer loyalty) though despite it problematic issues are the factors influencing the companies focused on social responsibility; these are lack of similar practice within the country, imperfect legislation, insufficient quantity of finance for activity and other factors. The present article studies the concept of corporate social responsibility. It's defined as a balanced system of the company which is oriented on social-responsibility, which on the other hand includes: to provide business profitability, take care about the environment, to provide social projects in the different sphere. It's analyzed how it impacts the company's social responsibility, As the company's business-also the activity of the society. It's considerated companies which are oriented on social-responsibility on the one hand, is it a loyal community, and on the other hand what obstacle factories are influencing on it's development, that hinders the development of corporate social responsibility.
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