engleski

Corporate Social Responsibility and Financial Sustainability

Many determinants and concepts of corporate governance, such as Corporate Social Responsibility (CSR), were primarily developed and intended for achieving higher business efficiency. The final expression of such efficiency is overall business result represented by different financial categories. Those categories are usually planned within the company financial strategy and they should be in alignment with a company declared CSR policies. However, it is usually understood that concept of CSR refers only to issues such as global scale sustainable development or developing acceptable green models of business growth. Such understanding is often extremely superficial and it doesn’t respect the importance of CSR when setting crucial financial goals and strategies. This claim is based on the exclusivity of a CSR as a concept of balancing financial, ecological and social aspects of doing business. Defined as such, CSR can be a strong management tool for achieving diversified business impacts, especially sustainable financial results. The purpose of this paper is to analyze basic premises and possibilities of aligning CSR policies that can be used when developing contemporary financial strategy of a company.

corporate social responsibility (CSR), sustainability, financial strategy, crisis, business cycles

Poglavlje u monografiji za doktorski studij, Fakultet ekonomije i turizma "dr. Mijo Mirković", Pula, Sveučilište Jurja Dobrile u Puli.