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Socially Responsible Business as a Strategy for Strengthening the Resilience and Competitiveness of Enterprises in the Face of Crisis Challenges
Koziura I. V., Doroshenko V. V.

Koziura, Igor V., and Doroshenko, Vladyslav V. (2024) “Socially Responsible Business as a Strategy for Strengthening the Resilience and Competitiveness of Enterprises in the Face of Crisis Challenges.” Business Inform 11:294–300.
https://doi.org/10.32983/2222-4459-2024-11-294-300

Section: Management and Marketing

Article is written in Ukrainian
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UDC 005.35:334.72:339.137.2:005.334

Abstract:
The article studies the conception of socially responsible business (CRB) as a strategic tool for strengthening the resilience and competitiveness of enterprises in the face of crisis challenges. An analysis of scientific research and practical cases of Ukrainian companies that have adapted their business models through socially responsible initiatives has been carried out. The essence of CRB as a voluntary inclusion of social, environmental and ethical aspects in the activities of companies at all levels of decision-making is revealed. Particular attention is paid to the study of mechanisms for adaptation of socially responsible business to crisis conditions through the implementation of strategies to support internal and external stakeholders. The most efficient strategies for the implementation of corporate social responsibility have been identified, including: financial and material support of communities and employees, expansion of sales channels and partnerships, introduction of innovations in products and services. It is substantiated that the introduction of socially responsible practices provides enterprises with significant competitive advantages, including improvement of the corporate image, strengthening the trust of consumers and partners, increasing the loyalty of customers and employees. The role of State support for socially responsible business in Ukraine is studied. It is found that the integration of socially responsible practices allows enterprises to strengthen ties with the community, reduce risks and increase competitiveness. On the basis of the study, practical recommendations for strengthening the resilience of enterprises in crisis conditions have been developed. The results confirm that business social responsibility is an effective instrument for ensuring the sustainability and competitive advantage of enterprises, especially during periods of economic instability, and can be used to improve crisis management strategies.

Keywords: social responsibility, business sustainability, competitiveness, crisis management, corporate social responsibility.

Bibl.: 15.

Koziura Igor V. – Doctor of Sciences (State Administration), Professor, Department of Management, Poltava University of Economics and Trade (3 Ivana Banka Str., Poltava, 36003, Ukraine)
Email: [email protected]
Doroshenko Vladyslav V. – Postgraduate Student, Department of Management, Poltava University of Economics and Trade (3 Ivana Banka Str., Poltava, 36003, Ukraine)
Email: [email protected]

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