Strategic Directions for the Development of Social Responsibility of Business

Abstract

The article is aimed at theoretical-methodological substantiation of the problems of formation and development of recommendations on strategic directions for the development of social responsibility of business. The article substantiates the need to create a favorable business environment in society on the basis of the formation of a holistic system of social responsibility and consistency of interests of all economic entities. It is determined that in the process of increasing business activity of enterprises, focusing only on economic problems, humanity loses other important issues, in particular: spirituality, social justice, lean attitude to the environment, etc. It is specified that the social responsibility of business is based on making effective managerial decisions in the process of meeting the needs of consumers with high-quality goods and services, providing appropriate working conditions for employees, interaction with stakeholders, preserving the environment, etc. Attention is focused on improving the level of corporate reputation of business, which consists in refusing to discriminate against employees on the following features: limited physical capabilities; sexual orientation; gender identity and sexual characteristic. In particular, the findings of an assessment of the level of corporate reputation demonstrate a strong positive connection between the results of financial and economic activities of business structures and their ability to effectively integrate efforts from the sphere of corporate social responsibility into the management system of the corporation. Strategic guidelines for further development of social responsibility of business, which is based on the implementation of the conception of sustainable development of society in terms of social, economic and ecological components, are proposed. Prospects for further research are the formation of corporate social responsibility as a component of the management system in corporations