The policy of forming a socially responsible business: Strategies and opportunities for implementation Yefimenko Liudmyla1,*, Vahonova Oleksandra2, Bondar Olena3, Pokolenko Vadym3, Yakymchuk Irina4 1Department of Management and Public Administration, Dmytro Motornyi Tavria State Agrotechnological University, Zaporizhzhia, Ukraine 2Departament of Applied Economics, Entrepreneurship and Public Management, Dnipro University of Technology, Dnipro, Ukraine 3Department of Project Management, Kyiv National University of Construction and Architecture, Kyiv, Ukraine 4Department of Management in Construction, Kyiv National University of Construction and Architecture, Kyiv, Ukraine *Corresponding author: scientistua@ukr.net (ORCID ID: 0000-0002-2807-1957)
Online Published on 19 January, 2024. Abstract The article represents a study of the objective foundations and specific forms of implementation of the social responsibility of business, associated with the need to determine the fundamental reasons for its functioning and development trends in the world community. The country (world region)-based analysis concludes that there are significant conceptual differences in the models of state participation in the formation and implementation of business efforts in the framework of socially responsible behavior. At the same time, the “unifying” role of voluntary CSR standards set out in the documents of the Global Reporting Initiative (GRI) is shown, which are intended for use by organizations regardless of size, industry, and location reporting prepared in accordance with these standards determines a positive image of companies in the eyes of both government regulators and consumers and investors, and is a kind of tool for companies to compete, including on an international scale. Highlights • The article is devoted to the analysis of approaches and vision of socially responsible business through the concept of corporate social responsibility, and the role of state and stakeholders in shaping CSR by countries. • The results of research demonstrated that GRI reporting standards enable smoothing of regional differences in organizing interaction between the state and business in the field of CSR, thus contributing to enhancement of the policy of forming a socially responsible business. • The practical significance of the study is that the research enriches the possibilities of institutional and economic understanding of the socially responsible business as a phenomenon and experience necessary for building a civil society. Top Keywords CSR, Social responsibility, Reporting, GRI, ESG. Top |