SOCIAL FOCUS OF BUSINESS: THEORETICAL AND PRACTICAL ASPECTS
The article deals with the reasons for the necessity of social responsibility of business in the conditions of the global economic crisis. The nature and characteristics of social responsibility of enterprises are analyzed, existing theories of social responsibility and its international standards being examined. Social responsibility and social focus of business are defined as the activity which is advantageous for business itself being an effective factor in the success of the manufacturer. The reasons for this are given in the article. The social orientation of the producer and his commitment to the interests of stakeholders (third parties) affect the indicators of capitalization, gross income revenue, profitability, investments and reputation. Taking into account the world's leading experience, a list of public policy measures is proposed that can promote the growth of social activity of Ukrainian producers, including large corporations, in order to overcome inequality and social strain in society.
Keywords: corporate social responsibility, social responsibility theories, stakeholders, social function of business.
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