BUSINESS CORPORATE SOCIAL RESPONSIBILITY IN THE ECONOMIC RECOVERY OF UKRAINE

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Published: Aug 25, 2023

  Anna Oleshko

  Dmytro Novikov

  Oleksii Petrivskyi

Abstract

The development of corporate social responsibility has been transformed in the context of the war in Ukraine by reorienting sustainability programmes and charitable assistance to the needs of the army, environmental activities and support for socially vulnerable groups of the population. The purpose of the article is to summarize theoretical provisions and develop tools for transforming corporate social responsibility of enterprises with consideration of human values and digitalization processes for the recovery of Ukraine's economy in the wartime and post-war period. The research is based on the unity of macro- and micro-economic approaches to the study of corporate social responsibility using structural and logical methods, methods of systemic and socio-economic analysis. The results of the study are to form a theoretical basis and applied tools for corporate social responsibility of business in accordance with the identified empirical facts and external conditions of the changing economic environment in the evolutionary progress. The transformation of corporate social responsibility involves the introduction of material and social support for the company's personnel and internally displaced persons; provision of medical, social, psychological, legal and security support to socially vulnerable groups; formation of corporate volunteering; and participation in the elimination of the negative environmental consequences of military operations. The practical implementation of the modernised corporate social responsibility programmes involves aligning the company's business strategy with the recovery of Ukraine's economy on the basis of sustainable development. An effective tool for implementing the corporate social responsibility policy should be the digitalisation of interaction between the management of enterprises and customers, suppliers, the public, NGOs and local hromadas. The development of new tools and mechanisms of corporate social responsibility will ensure the implementation of universal, humane, European values in the management of enterprises, improvement of social support for employees, customers, and stakeholders, and the spread of socio-economic and environmental effects on society.

How to Cite

Oleshko, A., Novikov, D., & Petrivskyi, O. (2023). BUSINESS CORPORATE SOCIAL RESPONSIBILITY IN THE ECONOMIC RECOVERY OF UKRAINE. Baltic Journal of Economic Studies, 9(3), 162-166. https://doi.org/10.30525/2256-0742/2023-9-3-162-166
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Keywords

corporate social responsibility, enterprise, social support, socially responsible business, economic recovery

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