Relationship of competitiveness of the enterprise and corporate social responsibility

Abstract

Purpose: The aim of the Article is devoted to the interaction between competitiveness and corporate social responsibility (hereinafter CSR) as the basis for creating an effective and open interaction of business, society and the state. Discussion: the Responsible behavior of the company is one of the most powerful factors in the development of competition, growth of market capitalization of the company and, together with the strengthening of business reputation. The impact of corporate social responsibility on the competitiveness of the company is characterized by an indirect character and time delay. Results: the paper defines a conceptual model of the impact of corporate social responsibility on the competitiveness of the company. On the basis of detailed consideration of individual components of the conceptual model of the impact of corporate social responsibility on the competitiveness of the company has formulated the concept of competitive of CSR activities as a responsible company, which is in accordance with the requirements of legislation and improving its reputation, business transparency, decrease risks, increase the value of the company as a whole increasing intellectual capital and creating long-term competitive advantages.