TOOLS FOR REGULATIONOF CORPORATE SOCIAL RESPONSIBILITY

Diana Antonova (), Irina Kostadinova () and Milena Todorova ()
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Diana Antonova: “Angel Kanchev“ University of Ruse, Bulgaria
Irina Kostadinova: “Angel Kanchev“ University of Ruse, Bulgaria
Milena Todorova: “Angel Kanchev“ University of Ruse, Bulgaria

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 28-42

Abstract: Corporate social responsibility regulation tools are being implemented within the key CSR realization areas. This does not mean that companies should strive to cover all CSR topics and areas. Not only is this impossible, but it would also prevent the company from concentrating its efforts on its most important strategic development areas. Of course, some areas of corporate responsibility are equally important in practice for all organizations.For example, responsible behavior towards co-workers and reducing negative environmental impacts, including the organization of green offices. Other CSR policy areas and tools can be extremely important for some organizations, but may be out of date for others. In determining priority directions of CSR, companies should primarily be oriented to the specifics of their business. This is important because CSR should organically fit into the strategy, policy, company management system and downplay all business processes. The purpose of the report is to present a viewpoint of the authors, supported by the results described in their analytical reports on company CSR policies in Bulgaria. The thesis is that companies are obliged to look at what they do within its core business from the perspective of CSR and think how they can produce and sell their products with greater benefit to society and the environment.The report systematizes 6 groups of instruments for regulating CSR and describes the directions for their implementation. The examples of good practices of large and medium-sized companies operating in Bulgaria are given.

Keywords: CSR implementation; Responsible staff practices; Environmental protection; Responsible business practices; Consumer practices; Development of local communities; Philanthropy (search for similar items in EconPapers)
JEL-codes: M1 M14 M38 (search for similar items in EconPapers)
Date: 2020
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