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Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2019-03-14  |  Accepted: 2019-09-30  |  Published: 2020-03-30

Title

Corporate social responsibility of business as a factor of regional development


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.


Keywords

sustainable development, business entities, social responsibility, regional development


JEL classifications

Q01 , I30 , J59


URI

http://jssidoi.org/jesi/article/513


DOI


Pages

2170-2180


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Voronkova, Olga Yurievna
Altai State University, Barnaul, Russian Federation http://www.asu.ru
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Melnik, Margarita V.
Financial University under the Government of the Russian Federation, Moscow, Russian Federation http://www.fa.ru
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Nikitochkina, Yulia V.
Financial University under the Government of the Russian Federation, Moscow, Russian Federation http://www.fa.ru
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Tchuykova, Nadezhda M.
Plekhanov Russian University of Economics, Moscow, Russian Federation http://www.rea.ru
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Davidyants, Alla A.
I.M. Sechenov First Moscow State Medical University, Moscow, Russian Federation https://www.sechenov.ru
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Titova, Svetlana V.
Kazan Innovative University named after V.G. Timiryasov, Kazan, Russian Federation https://ieml.ru
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Journal title

Entrepreneurship and Sustainability Issues

Volume

7


Number

3


Issue date

March 2020


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

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References