Corporate social responsibility as a strategic aspect of achieving financial stability of a business

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In a modern turbulent economic environment, strengthening the principle of quasi-stability, globalization and competition, corporate social responsibility is becoming a driving force in establishing market proportions and business development prospects. This substantiates the importance of developing corporate social behavior as a strategic aspect of achieving financial stability in the practice of market participants. The study is aimed at developing a theoretical and methodological justification of the role of corporate social responsibility in optimizing the company’s costs and its impact on basic financial indicators, as well as identifying the relationship between the costs of corporate social behavior and the increase in company value. The research object is corporate social responsibility as one of the tools to achieve business financial performance. The theoretical basis was the analysis of works and publications of leading scientists, research data on CSR practices of successful Ukrainian and international companies, determination of the relationship between the current decline in company profits due to socially oriented costs and sustainable business development. The results obtained made it possible to demonstrate the CSR model of a financially stable company and to characterize the advantages and sources of reducing the company’s costs due to the effective CSR implementation by Ukrainian companies. The practical value of the results can be important not only for the company’s management system, but also for stakeholders such as consultants, shareholders, scientists, authorities, since the results show a positive relationship between CSR and financial performance, and stakeholders can exert some pressure on companies that do not have a CSR policy and thus encourage them to change.

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    • Figure 1. Етапи процесу розробки КСВ-стратегії компанії за внутрішнім та зовнішнім векторами
    • Figure 2. Модель КСВ фінансово стійкої компанії
    • Figure 3. Характеристика політики уряду України щодо СВ бізнесу за 2017–2019 рр.
    • Table 1. Класифікація витрат компанії на КСВ
    • Table 2. Ранжування потенційних заходів, результатів та економії витрат завдяки впровадженню практик КСВ для основних груп стейкхолдерів
    • Funding acquisition
      Marharyta Chepeliuk
    • Project administration
      Marharyta Chepeliuk
    • Supervision
      Marharyta Chepeliuk
    • Validation
      Marharyta Chepeliuk
    • Writing – review & editing
      Marharyta Chepeliuk
    • Conceptualization
      Vladyslava Harkusha
    • Data curation
      Vladyslava Harkusha
    • Formal Analysis
      Vladyslava Harkusha
    • Investigation
      Vladyslava Harkusha
    • Methodology
      Vladyslava Harkusha
    • Resources
      Vladyslava Harkusha
    • Software
      Vladyslava Harkusha
    • Visualization
      Vladyslava Harkusha
    • Writing – original draft
      Vladyslava Harkusha