Benefits of corporate social responsibility engagement in companies: The case of Poland

Abstract

Purpose: This study investigates the benefits of being perceived as a socially responsible company. The main purpose of the research was to find out whether company managers consider that certain aspects of company activity may benefit from being perceived as socially responsible. Methodology: The research methods included a literature review and a survey conducted in several Polish companies regarded as socially responsible. The so-called RESPECT Index, including socially responsible companies listed on the Warsaw Stock Exchange Main List, as well as annual rankings of responsible companies were used as a kind of reputation database for choosing survey respondents. Findings: The most important benefits indicated by the respondents included better firm image/reputation, improved relations with stakeholders, increased employee motivation, better communication inside the company, as well as more effective management and control over new aspects not considered before. Additionally, the identified benefits were analyzed using different criteria, such as the size of the company or its field of activity. Research limitations: The primary source of data used in this study was a survey of respondents' views and opinions rather than an analysis of extensive numerical data. Originality: The problem analyzed in this study is important, yet it is still not a sufficiently examined issue in many emerging markets including Poland. As benefits taken into consideration in the survey are also valid for other financial markets, the results can be used for comparative studies of Poland and other countries.