CORPORATE SOCIAL RESPONSIBILITY: CAUSES AND INFLUENCE ON CORPORATE REPUTATION
Abstract
The article deals with theoretical and methodological aspects of corporate social responsibility. The main reasons that motivate business to CSR and the main practices of social responsibility in the modern business environment are analyzed. The study of the theoretical approaches used allows us to characterize CSR as an integral part of corporate governance, based on the system of ethical and value norms of the company. This activity is associated with the voluntary implementation of economic, environmental and social activities that are not directly related to the requirements of the production process. The implementation of socially responsible practices results not only in a positive impact on the livelihood of stakeholders, but also in an increase in the value of business, an increase in the competitiveness of the enterprise and the strengthening of business reputation. The relationship between CSR and corporate reputation as an element of intangible assets of a company is considered from the standpoint of various theoretical approaches: institutional / legitimacy theory, impression management theory, reputation risk management theory, agency theory and signaling theory. The importance of corporate social responsibility as an effective tool for the formation of business reputation is justified under the condition of ensuring the long-term nature of this activity, its support at the level of senior management, the transparency of relations with stakeholders and the use of effective media, marketing and advertising communications.
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