Social responsibility in the strategy of business entities

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F44555601%3A13510%2F22%3A43897063" target="_blank" >RIV/44555601:13510/22:43897063 - isvavai.cz</a>

Result on the web

<a href="https://dspace.tul.cz/bitstream/handle/15240/166028/EM_3_2022_03.pdf?sequence=1&isAllowed=y" target="_blank" >https://dspace.tul.cz/bitstream/handle/15240/166028/EM_3_2022_03.pdf?sequence=1&isAllowed=y</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.15240/tul/001/2022-3-003" target="_blank" >10.15240/tul/001/2022-3-003</a>

Result language

angličtina

Original language name

Social responsibility in the strategy of business entities

Original language description

Social responsibility is a common part of corporate practice and an established topic of scientific research. Foreign studies have repeatedly concluded that the consistent integration of social responsibility into corporate strategy and strategic management of all dimensions of CSR strengthen corporate growth, bring competitive advantages, and contribute to the sustainable development of society. The aim of the paper is to find out whether even in the Czech Republic business entities with a strategic concept of CSR achieve better economic results compared to those whose approach to social responsibility is rather intuitive and unsystematic. Also, it seeks to answer the question of whether, with different corporate strategies, it is desirable to focus on different CSR activities that would support corporate growth. A survey of the dimensions of strategic CSR and basic economic characteristics was carried out on a set of more than 400 Czech companies engaged in CSR. Data were processed by methods of cluster analysis, factor analysis and multinomial logistic regression. The results show that there is a link between a more advanced (i.e., strategic) concept of CSR and achieving economic prosperity. It was also found that companies with different corporate strategies should carefully consider the benefits of individual CSR activities. All three strategies have shown positive effects resulting from activities aimed at employees and the local community. The differentiation strategy has shown the benefits of cultivating a market environment and the highest quality strategy for human rights protection. On the other hand, with the lowest price strategy, additional CSR activity does not mean an economic advantage. The conclusions contribute to the clarification of the links between strategic CSR and corporate growth in the Czech business environment and contribute specific knowledge that can be implemented by companies if they want to strengthen the positive effects of their socially responsible activities.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2022

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

E+M. Ekonomie a Management

ISSN

1212-3609

e-ISSN

2336-5064

Volume of the periodical

25

Issue of the periodical within the volume

3

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

18

Pages from-to

35-52

UT code for WoS article

000863216900003

EID of the result in the Scopus database

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