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Corporate Social Responsibility as a Tool for Smart, Sustainable and Inclusive Growth

In: Serbia and the European Union: Economic Lessons from the New Member States

Author

Listed:
  • Bojana Radovanovic

    (Institute of Economic Sciences)

  • Filip Brkovic

    (Galenika a.d.)

  • Slavica Stevanovic

    (Institute of Economic Sciences)

Abstract

The recently adopted Strategy for the economic and social development of the EU - Europe Strategy 2020, recognizes the concept of the Corporate Social Responsibility (CSR) as one of the tools for the achievement of a smart, sustainable and inclusive growth. Although the integration of CSR concept into business strategies is made on voluntary bases, governments, civil sector, media and academia have an important role in its promotion. The aim of this paper is to analyse the role that CSR plays in the socio-economic development focusing on Serbia. While the Government perceives the importance of CSR for Serbian socio-economic development, it is noticeable that pressure on companies to undertake socially responsible activities made by media, NGOs, consumers and business partners is not remarkable. In addition, the business community still does not have enough CSR initiatives that would be both beneficial to the community and profitable for companies. The paper argues that education on CSR of the managers and the broader public is essential in raising the awareness of the benefits that CSR offer. Consequently, it would lead towards the wider implementation of CSR in Serbia.

Suggested Citation

  • Bojana Radovanovic & Filip Brkovic & Slavica Stevanovic, 2011. "Corporate Social Responsibility as a Tool for Smart, Sustainable and Inclusive Growth," Book Chapters, in: Mirjana Radovic Markovic & Srdjan Redzepagic & João Sousa Andrade & Paulino Teixeira (ed.), Serbia and the European Union: Economic Lessons from the New Member States, edition 1, volume 1, chapter 25, pages 396-406, Institute of Economic Sciences.
    • Handle: RePEc:ibg:chaptr:srbeu-25
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    References listed on IDEAS

    as
    1. Ian W. Jones & Michael G. Pollitt & David Bek, 2007. "Social Capital and Multinationals," Palgrave Macmillan Books, in: Multinationals in their Communities, chapter 4, pages 90-128, Palgrave Macmillan.
    2. Ian W. Jones & Michael G. Pollitt & David Bek, 2007. "Multinationals in their Communities: A Social Capital Approach to Corporate Citizenship Projects," Palgrave Macmillan Books, in: Multinationals in their Communities, chapter 1, pages 1-19, Palgrave Macmillan.
    3. Ian W. Jones & Michael G. Pollitt & David Bek, 2007. "Multinationals in their Communities," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-21105-6, September.
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    Cited by:

    1. Zivka Przulj & Bojana Radovanovic, 2012. "Affirmation of Principles and Improved Corporate Governance in Serbia - Business Ethics and Corporate Social Responsibility," Book Chapters, in: João Sousa Andrade & Marta C. N. Simões & Ivan Stosic & Dejan Eric & Hasan Hanic (ed.), Managing Structural Changes - Trends and Requirements, edition 1, volume 1, chapter 18, pages 346-359, Institute of Economic Sciences.

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