In recent years, following the experience of the economic crisis and recession where the business environment has changed and new needs and priorities have emerged for citizens – consumers, Corporate Social Responsibility (CSR) is at the center of discussions and open dialogue. In this climate, every modern business is called to redefine its role, its responsibility to society and the environment and to reshape its business and strategy.
Companies that today will produce responsible entrepreneurship their main priority and will align it with their business goals, will be the companies that will come out of the impasse and will be the protagonists of tomorrow.
Responsible entrepreneurship introduces a new model of business operation based on the threefold economic growth, social cohesion and environmental protection. This new model is inextricably linked to the concept of sustainable development, which cannot be achieved without trust, transparency and a sense of responsibility to society.
But how does an organization translate the basic principles of responsible entrepreneurship and sustainable development into its day-to-day practices, policies and strategies?
Compliance with contractual obligations and respect for state laws certainly do not make a company socially responsible, but they are a prerequisite for taking actions and initiatives to support the market, society and the environment. These actions and initiatives should be coherent, integrated in the operational strategy of the Organization, be based on specific principles and not be sporadic actions with a lack of targeting and connection with the business strategy.
The core areas of corporate responsibility action of a company are the working environment, the natural environment, society, the market and consumers.
At a time when working relationships are being tested, the need to create and promote a pleasant and healthy work environment becomes more pressing than ever. The protection of fundamental labor rights and the cultivation of a merit-oriented human-centered environment increase the productivity and loyalty of employees in the company. In addition, the cultivation of volunteerism and the involvement of employees in CSR actions enhances people’s morale and efficiency.
Commitment to the vision of environmental development, reducing the environmental impact of each organization are key principles of responsible entrepreneurship and sustainable development. By implementing “green practices”, such as waste reduction, energy savings, etc. In addition to socio-political benefits, there are also economic ones.
Businesses that “listen” to the demands of the market and consumers and are in open dialogue and communication with them manage to create a better image in the eyes of consumers and society than companies that distance themselves from society. Having won the sympathy and appreciation of consumers, they are more likely to overcome a possible crisis in their reputation faster and with the least possible impact.
In conclusion, it is a fact that CSR in the coming years will occupy us even more intensely as it is a critical factor of modern entrepreneurship and a key tool of strategy and business and professional development. “Responsible business” – as a competitive advantage of a business – is a moral commitment, a social and economic investment with the ultimate goal of achieving a balanced profitability and sustainable development.