Corporate Social Responsibility in Romania: Evolution, Trends and Perspectives

Abstract

In Romania, responsible corporate behavior was initially evaluated based on commercial considerations of image and reputation, and not in terms of sustainable development or stakeholders needs. However, recently there has been a shift towards the implementation of the second approach, responsible practices being associated with long-term success, directly proportional to community development, environmental welfare and practices and connections within the area of influence. Despite the significant progress on the integration of responsible practices in organizations core business since EU accession, a number of challenges continue to exist, which must be addressed by all stakeholders, including increasing awareness of CSR/SR significance and of the integrated approach involved by the implementation of responsible practices; increasing awareness of the needs and benefits associated with incorporating responsible practices into business objectives and operations to ensure sustainable success; and increasing transparency, monitoring and assessment of CSR initiatives impact on all involved or affected stakeholders. Lately, there have been identified action areas considered fundamental to define tools that enhance social responsibility like Corporate social responsibility in the area of human resources; Social entrepreneurship; Fostering social responsibility through public procurement system; Corporate social responsibility in SMEs; CSR Reporting; Responsible Consumption; Social responsibility in schools and universities. Each of these areas of action are presented in the paper, accompanied by problems and barriers for which a coherent CSR practice should provide potential solutions by creating the structure of the future development of this concept in Romania.