Corporate and social responsibility

23. 09. 2022.Marketing, Public Relations

Corporate social responsibility (CSR) has emerged as one of the trends that characterizes the operations of numerous successful companies around the world in recent years. Today, successful business cannot be imagined without the comprehensive application of the principles of social responsibility.

Corporate social responsibility or corporate social responsibility is a business concept that emerged as a response to increased interests and expectations regarding the appropriate and active role of companies in society, primarily those large companies that have an impact on the quality of life and development of society as a whole, as well as to increase the public sensitivity of society to ethical values.

The popularization of this concept in Serbia was contributed by the arrival of foreign companies that brought with them already established policies and practices. While in the non-governmental sector, the first steps in the application of this concept occur through an initiative for potential cooperation and partnership between these two sectors.

Depending on how thoughtfully the company deals with the socially responsible projects it manages, as well as the principles of their realization, the ways of affirming the achieved results also depend. In addition to the implementation of socially responsible principles and initiatives, it is also necessary to effectively promote them, with adequate application of internal and external communication. By implementing socially responsible activities, the company gains an enviable competitive advantage, strengthens the position of its brands in products/services, gains the favor of superior state bodies and the entire social community.

In accordance with the accelerated development of technology, harsh market competition and the needs of end users, above all in the sphere of innovation, it seems that the time of socially responsible marketing is just coming. The elements of economic responsibility, employee motivation, proactive marketing strategies and innovations in the field of market positioning will become a decisive factor in the sustainability of companies’ operations. Socially responsible marketing of any company will not refer exclusively to the realization of increased profits and thus economic factors. It is certain that it will also mean the achievement of social goals in the environment and community in which business is conducted, especially through the financing of those projects that contribute to the general betterment of the community.

Corporate social responsibility is also used in all forms of advertising, as one of the numerous means of communication that can be used to promote the desired corporate identity. Advertising of the company’s image itself can be more or less direct or in a form in which the company does not promote itself in the foreground, that is, it does not promote itself at all, but promotes values that have an indirect impact on building positive publicity for the company. Corporate advertising of the company’s image is a very popular communication tool, mainly because it provides creativity, but also communication values and flexibility in terms of marketing to the target group. The benefits of establishing the desired CSR identity are numerous – brand value as capital, competitive advantage, consumer loyalty and other positive results obtained by changing their behavior, especially after purchasing a certain product/service.

There is a general acceptance of corporate social responsibility as a marketing strategy of companies, which is implemented through various activities, primarily promotion, sponsorship and donation.