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Corporate social responsibility of business as a factor of regional development

Author

Listed:
  • Olga Yurievna Voronkova

    (Altai State University, Russian Federation)

  • Margarita V. Melnik

    (Financial University under the Government of the Russian Federation, Russian Federation)

  • Yulia V. Nikitochkina

    (Financial University under the Government of the Russian Federation, Russian Federation)

  • Nadezhda M. Tchuykova

    (Plekhanov Russian University of Economics, Russian Federation)

  • Alla A. Davidyants

    (I.M. Sechenov First Moscow State Medical University, Russian Federation)

  • Svetlana V. Titova

    (Kazan Innovative University named after V.G. Timiryasov, Russian Federation)

Abstract

The business community plays an essential role in ensuring sustainable regional development. This is due both to the powerful financial potential of business, which is particularly important with limited state budgetary resources, and to the high scientific and technical potential of companies, which is essential for maintaining their international competitiveness. The contribution of business to social development and sustainable regional development will depend, first, on the growth in traditional activities and the creation of new projects, and second, on the modernization of existing industries for reducing the negative impact on the region's environment and population. In recent decades, the concept of social responsibility of business, that is, its responsibility to the population or society has been developed by the most conscious and forward-looking part of the Russian business community, which has initiated impressive voluntary activity in this field. This relates essentially to large private or state-owned businesses. The business community is actively engaged with interested business and social groups, implementing contemporary international standards of socially oriented and environmental management, publishing social reports, including in the field of sustainable regional development.

Suggested Citation

  • Olga Yurievna Voronkova & Margarita V. Melnik & Yulia V. Nikitochkina & Nadezhda M. Tchuykova & Alla A. Davidyants & Svetlana V. Titova, 2020. "Corporate social responsibility of business as a factor of regional development," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(3), pages 2170-2180, March.
    • Handle: RePEc:ssi:jouesi:v:7:y:2020:i:3:p:2170-2180
    DOI: 10.9770/jesi.2020.7.3(47)
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    References listed on IDEAS

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    Cited by:

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    2. Judith Josefina Hernández García de Velazco & Rafael Ravina Ripoll & Ana Cecilia Chumaceiro Hernandez, 2020. "Relevance and social responsibility of sustainable university organizations: analysis from the perspective of endogenous capacities," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(4), pages 2967-2977, June.

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    More about this item

    Keywords

    sustainable development; business entities; social responsibility; regional development;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • J59 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Other

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