Corporate Social Investment in Modern Russia: Between Economic Efficiency and Social Justice
Sociology
DOI:
https://doi.org/10.17072/2078-7898/2019-3-402-411Keywords:
corporate social investment, social responsibility, corporate social policy, social justice, economic sociologyAbstract
This paper asks whether modern companies are willing to create systems of corporate social investment to ensure social justice or whether they can only imitate corporate social responsibility. The dilemma faced by modern businesses competing in the global marketplace is examined. Today's competitive environment provides for business participation in social programs. However it requires from enterprises significant additional expenses which bring profit only in a long-term prospect. The author analyzes the results of empirical sociological research conducted at the Russian State Social University in 2011-2016. Based on these studies, the author concludes that corporate social investments give enterprises a significant competitive advantage and enhance their social reputation. However, their chaotic and haphazard nature leads to a drop in the financial efficiency of the company. The necessity of purposeful choice of the object of social investments that takes into account the economic interests of the company in the long term was determined. The article will be of interest to company managers, specialists of ministries and departments involved in the development of social entrepreneurship policy, entrepreneurs, researchers, graduate and undergraduate students, as well as a wide range of readers.References
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