MECHANISMS FOR INTEGRATING CORPORATE SOCIAL RESPONSIBILITY INTO THE MANAGEMENT STRATEGY OF DOMESTIC ENTERPRISES

Abstract

The article examines the implementation of social responsibility principles in the strategic activities of domestic enterprises. Modern practice requires a transition to a conceptually new approach, which involves the integration of the social component into the overall business strategy. Directions for further research on the key aspects of integrating corporate social responsibility into the strategic management system of Ukrainian enterprises are indicated. There is still no unified position in the scientific literature on the key aspects of integrating corporate social responsibility into the strategic management system of domestic enterprises. Issues related to defining the goals, objectives, tools, and expected results of such integration remain debatable. Current trends in the implementation of corporate social responsibility principles in the activities of enterprises and measures that will contribute to increasing business competitiveness are identified. This is possible by supporting the implementation of energy-saving technologies, providing benefits to socially responsible companies, and raising conceptually and socially responsible initiatives to the level of state priorities. The feasibility of using a system-logical approach in the process of integrating social responsibility into the strategic management system of an enterprise is considered. It is important that corporate social responsibility should be considered as an integral element of the corporate resources system and a component of the enterprise’s strategic portfolio, which ensures its long-term competitiveness and sustainable development. The emphasis is on the need to transform the understanding of social responsibility – from its perception as “social costs” to its consideration in the format of “social investments”. The need to introduce effective social responsibility tools into the practice of enterprises is substantiated, in particular, social communications tools, where it is important to satisfy the social demands of both internal and external stakeholders. The key areas for improving the relationship between strategic management and the concept of corporate social responsibility are identified. Conclusions are presented on the feasibility of considering the basic components of corporate social responsibility (social, economic, and environmental) as integral elements of any development strategy for domestic enterprises. It has been proven that the integration of social responsibility principles into the management system provides an enterprise with the opportunity to form a positive image and business reputation, create a favorable business environment, reduce non-financial risks, and increase its investment attractiveness.