CORPORATE SOCIAL RESPONSIBILITY – ONE OF THE BASIC PROPOSALS FOR GOOD CORPORATE GOVERNANCE

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CORPORATE SOCIAL RESPONSIBILITY – ONE OF THE BASIC PROPOSALS FOR GOOD CORPORATE GOVERNANCE

Journal Title: Knowledge International Journal - Year 2018, Vol 26, Issue 1

Abstract

Companies are not only production-economic systems, but they are part of the overall economic and environmental environment, because besides their profit mission, they have a wider social responsibility. The European Commission understands social responsibility as a concept by which companies integrate social and environmental aspects into their business and interact with stakeholders in the process on a voluntary basis. The idea that businessmen have an obligation to "strive towards such policies, decisions and actions that are desirable within the goals and values of society" is as early as 1953 advocates in his own publication, William Bowen. Catalysis of this process is also due to the emergence of multinational companies whose activities have a significant impact on the environment, which is why they are the focus of the public. Today, the concept of social responsibility is accepted as one of the basic postulates in the systems of companies that are characterized by good corporate governance. Being socially responsible means "profitability and compliance with legal regulations are prerequisites for the company's ethics and support of the social environment where it realizes its business".

Authors and Affiliations

Zorica Siljanovska

Keywords

company social responsibility corporate governance profit standards ethical behavior social aspects social community

EP ID EP50076
DOI -
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