Social and environmental responsibility strategies of business

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Authors:

A.Yu.Zhulavskyi, Cand. Sc. (Econ.), Prof., Sumy State University, Sumy, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.; This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.; This email address is being protected from spambots. You need JavaScript enabled to view it.

D.O.Smolennikov, Sumy State University, Sumy, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.; This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.; This email address is being protected from spambots. You need JavaScript enabled to view it.

N.M.Kostyuchenko, Cand. Sc. (Econ.), Assoc. Prof., Sumy State University, Sumy, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.; This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.; This email address is being protected from spambots. You need JavaScript enabled to view it.

Abstract:

Purpose. The purpose of the article is to identify strategies for social and environmental responsibility of a company according to the existing business opportunities for implementing social and environmental responsibility and according to the readiness of an enterprise to introduce programs of social and environmental responsibility as well as to choose the strategic alternative according to the level of social and environmental security of the region in which the enterprise is located.

Methodology. The results were obtained with the following methods: matrix approach in creating a matrix of social and environmental responsibility strategies of a company; quantitative analysis in determining the capability of an enterprise to implement appropriate social and environmental responsibility; qualitative analysis in determining the readiness of a company to introduce these programs.

Findings. The authors proposed a list of criteria to identify the strategies for social and environmental responsibility of companies. Nine main strategies for social and environmental responsibility of companies were determined in the paper, namely, reactive, defensive, stabilization, minimum responsibility strategy, preventive, growth strategy, accommodative, capacity building, proactive. The authors proposed an algorithm to choose strategic alternatives according to the existing company’s strategy of social and environmental security.

Originality. The authors suggested a two-level matrix of choosing the strategies for social and environmental responsibility of the enterprise according to the following:

1) basic selection criteria upon which it is possible to make conclusions regarding the available development strategy: the capabilities for the implementation of social and environmental responsibility programs as well as the readiness of enterprise to implement these programs;

2) criterion of strategic alternatives choosing, i. e. the level of social and environmental security of the region in which the enterprise is located. Based on this criterion, it is possible to draw a conclusion of prospects of an enterprise’s development and required strategic alternative with the purpose of implementing social and environmental responsibility at an enterprise.

Practical value. The suggested approach allows an enterprise to determine its development strategy to achieve social and environmental responsibility and a company’s readiness to implement social and environmental responsibility programs as well as to choose a perspective strategic alternative.

References.

1. Karassin, O. and Bar-Haim, A., 2016. Multilevel corporate environmental responsibility. Journal of Environmental Management, 183, pp.110‒120.

2. Hart, S.L. and Dowell, G., 2011. A natural-resource-based view of the firm: fifteen years after. Journal of Management, 37(5), pp. 1464‒1479.

3. Orsato, R.J., 2009. Sustainability strategies: When does it pay to be green? Palgrave Macmillan. New York. pp. 29‒36.

4. Kolk, A. and Pinkse, J.M., 2007. Towards strategic stakeholder management? Integrating perspectives on sustainability challenges such as corporate responses to climate change. Corporate Governance, 7(4), pp. 370‒378.

5. Albino, V., Balice, A. and Dangelico, R.M., 2009. Environmental Strategies and Green Product Development: an Overview on Sustainability-Driven Companies. Business Strategy and the Environment, 18, pp. 83–96.

6. Wagner, M., 2013. Green human resource benefits: do they matter as determinants of environmental management system implementation? Journal of Business Ethics, 114(3), pp. 443‒456.

7. Hahn, T., Jonatan Pinkse, J., Preuss, L. and Figge, F., 2014. Tensions In Corporate Sustainability: Towards An Integrative Framework. Journal of Business Ethics, 127(2), pp. 297‒316.

8. Christmann, P. and Taylor, G., 2009. Understanding the self-regulation potential of voluntary international initiatives for corporate conduct: the role of sponsor goals. In: McIntyre, JR., Ivanaj, S., Ivanaj, V., eds., 2009. Multinational enterprises and the challenges of sustainable development. Cheltenham-Northampton: Edward Elgar Publishing, pp. 207‒229.

9. Bilyk, M.D., 2009. Strategic management and strategies of enterprises. Formuvannya rynkovyh vidnosyn v Ukrayini: zbirn`k naukovyh prats, 4, pp. 63‒72.

10. Andrushkiv, R.Y., 2013. Social and ecological security as a priority element in the state social policy formation. Innovacijna ekonomika, 5(40), pp. 121‒130.

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ISSN (print) 2071-2227,
ISSN (online) 2223-2362.
Journal was registered by Ministry of Justice of Ukraine.
Registration number КВ No.17742-6592PR dated April 27, 2011.

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