INTEGRATION OF CORPORATE SOCIAL RESPONSIBILITY INTO THE CORPORATE STRATEGY

Abstract

Introduction. The issue of strategizing corporate management approach during the implementation of the concept of corporate social responsibility (CSR) is considered in the article. The implementation of CSR concept in the enterprise’s overall strategy is one of the important areas of building mutually beneficial relationships with key stakeholder groups. Purpose. The research aims to justify a comprehensive strategic approach to CSR on the basis of the construction of integrated corporate and business strategies with a focus on the CSR principles. Method (methodology). A complex of scientific methods such as method of theoretical generalization, comparison and systematic approach to the formation of interconnected strategies for different hierarchical levels of enterprise management with a focus on CSR principles have become the methodological basis of the study. Results. The necessity to overcome the isolation of socially responsible programs and initiatives and provide their close relationship with key business processes on a strategic basis through the introduction of CSR elements in strategic management has been proved. Stages of forming integrated corporate (business) strategy with a focus on CSR principles, which allow implementing a comprehensive strategic approach to CSR at all hierarchical levels of enterprise management, have been proposed. It has been emphasized that corporate and business strategy integrated with socially responsible objectives and principles form prerequisites for improving operational efficiency of the enterprise management systems.