STRATEGIC IMPLEMENTATION OF CORPORATE RESPONSIBILITY: ENSURING ETHICS, SUSTAINABILITY, AND SOCIAL RESPONSIBILITY IN MODERN BUSINESS
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.2, No. 87)Publication Date: 2024-07-31
Authors : Stefaniuk Olga; Alioshkina Ljudmila; Pitel Nina;
Page : 33-43
Keywords : strategic implementation; corporate responsibility; ethics; sustainability; social responsibility; business; management; strategy; modern business;
Abstract
Abstract. Corporate responsibility has become the basis of modern business strategy, driven by the growing demands of stakeholders regarding ethical behavior, sustainable development and social responsibility. The article examines the strategic implementation of corporate responsibility, emphasizes the integration of ethical practices, sustainable operations and social responsibility in the business model. By exploring key frameworks, research and current trends, this article makes the case for how companies can successfully integrate corporate responsibility into their core strategies, thereby increasing their competitiveness and long-term viability. The purpose of the article is to study strategic approaches to the implementation of corporate responsibility in modern business. Materials and methods. The study, devoted to the strategic implementation of corporate responsibility to ensure ethics, sustainability and social responsibility in modern business, used a comprehensive approach that combines both quantitative and qualitative research methods. A systematic review of scientific publications related to corporate responsibility, ethics and sustainability in business was conducted. This analysis identified key concepts, approaches and tools used in the industry. The collected data were processed and analyzed using statistical methods, which made it possible to identify correlations, trends and important dependencies between various factors related to corporate responsibility. Based on the obtained data, practical recommendations on the strategic implementation of corporate responsibility were developed, which can be used by companies to improve their practices in this area. This comprehensive approach to research allowed us to gain a deep understanding of the importance and effective strategies for implementing corporate responsibility in modern business. The results. The main results of the scientific research confirm that the successful implementation of corporate responsibility requires a holistic approach that combines ethics, sustainability and social responsibility. Companies that demonstrate high standards of ethical behavior are more likely to attract and retain customers, employees and investors. Ethics is the foundation of trust, which is a critical success factor in today's business. Maintaining sustainable development is a necessary condition for the long-term success of the enterprise. The implementation of sustainable practices in all aspects of operations, from production to interaction with the community, helps to conserve resources and reduce the negative impact on the environment. Support and development of social initiatives help companies maintain their reputation, attract talented employees and contribute to community development. Initiatives aimed at improving the quality of life of employees, supporting education and health, create a positive impression of the brand and contribute to building sustainable relationships with consumers and other stakeholders.
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Last modified: 2024-12-15 23:48:42