Prospects of development of the strategic policy of corporate social responsibility and sustainable business in Azerbaijan

Abstract

BackgroundThe relevance of the topic lies in its examination of the state of development of corporate social responsibility (CSR) in Azerbaijan. Corporate social responsibility refers to the ethical and responsible behavior of companies towards society and the environment.AimsThe purpose of this study is to analyze the state of development of corporate social responsibility (CSR) in Azerbaijan and to propose methodologies for the design of a unified policy for the implementation and development of the CSR concept.Material & MethodsIn this work, the study was conducted in the realities of Azerbaijan. Analysis can be considered the main method used in the study; other methods include induction, benchmarking, and forecasting.ResultsThe researchers analyzed the state of development of corporate social responsibility in Azerbaijan.DiscussionThe results of the analysis demonstrate that there are specific initiatives from the state, enterprises, and society in the country at the moment, but they are not yet enough to achieve significant results in this field of research.ConclusionThe research proposed some methodologies for the design of a unified policy for the implementation and development of the corporate social responsibility concept.