Modern system of socially responsible business management models

• Main Author: A.V. Mostepaniuk
• Format: Article
• Language: English
• Published: Zhytomyr Polytechnic State University 2020-03-01
• Series: Економіка, управління та адміністрування
• Subjects: corporate social responsibility; business social responsibility; stakeholders; social capital; sustainable development; corporate citizen; social protection; competitiveness
• Online Access: http://ema.ztu.edu.ua/article/view/200775/200916
• ISSN: 2664-245X; 2664-2468

Due to the fact that nowadays society is socially unprotected as a result of the negative impact of globalization, increased competition, technological progress and development of artificial intelligence, an active participation of the private sector in solving socially important problems is necessary. Such socially oriented business activity is manifested through the implementation of the principles of corporate social responsibility. However, the existence of various models of such responsibility impedes and hinders the process of implementing the social behavior of business, so a comprehensive analysis of the current system of social responsibility models is necessary. Ten modern theoretical models of corporate social responsibility and five national models are investigated. Based on the implemented research, the system of models is formed and its main groups are defined, namely: the models that recognize economic responsibility as a priority; the complementary models that define the elements equally important; organizational models; the models aim at the accumulation of social and natural capital. The article proves the necessity for creating a unified model of corporate social responsibility, which will further promote socially oriented activity of the private sector, lead to an improvement of well-being and competitiveness of the country as a whole.