Corporate social responsibility in Russia

Abstract

Nowadays companies try to strike a balance between maximizing their profit and being socially responsible. On the one hand, a lot of scientists and economists admit that the primary goal for any company has been and still is to maximize profits of shareholders. On the other hand, some other experts believe that a company nowadays should not concentrate only on pursing profits. Some other objectives are connected with interests of stakeholders, ethical and moral behavior of a company and others. Based on the analysis of theoretical approaches, the paper offers to unify different groups and their interests and goals. The authors during the research come to the conclusion that the development of CSR in Russia is directly connected with the country’s peculiarities and at the same time all European best practices are taken into consideration and relied upon by Russian companies in terms of CSR.