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Good Practices in the Field of Corporate Social Responsibility (Comparative Analysis for Bulgaria, Romania and Serbia)

Author

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  • Mariya Georgieva
  • Vanya Kraleva
  • Svilen Ivanov

Abstract

Many companies in the market today face the challenge of finding an effective way to fulfil their role as good corporate citizens – companies that “do well by doing good”. The authors of the study consider the Corporate Social Responsibility as a practically applicable method to achieve this balance. The study provides a comparative analysis between companies recognized as socially responsible in Bulgaria, Romania and Serbia, by presenting the main aspects of the initiatives that lead to these companies to be identified as a benchmark in the implementation of CSR policies. On this basis, the authors of the study: (1) outline key areas of CSR in the countries concerned by defining similarities and differences in the scope and the content of the initiatives that companies initiate and/or engage in; (2) highlight good practices in the field of CSR, where there is a possibility for transfer of know-how among companies from the three countries; (3) identify areas with underdeveloped potential in which companies in the countries concerned can focus their efforts and resources in order to optimize their engagement in the field of CSR. The results of the conducted analysis are compared with the point of view of consumers who take both the roles of beneficiaries of the effects of socially responsible behaviour of companies and of active participants in market relations, having the power to motivate and require companies to be conscious corporate citizens. The purpose of the comparison is to find unused positioning opportunities through specific actions related to CSR in specific consumer segments and/or to outline opportunities for optimizing communications in this direction.

Suggested Citation

  • Mariya Georgieva & Vanya Kraleva & Svilen Ivanov, 2021. "Good Practices in the Field of Corporate Social Responsibility (Comparative Analysis for Bulgaria, Romania and Serbia)," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 169-191.
    • Handle: RePEc:bas:econst:y:2021:i:6:p:169-191
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    References listed on IDEAS

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    2. Goodpaster, Kenneth E., 1991. "Business Ethics and Stakeholder Analysis," Business Ethics Quarterly, Cambridge University Press, vol. 1(1), pages 53-73, January.
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    More about this item

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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