CESD Presented New Research Paper on Corporate Social Responsibility

CESD Presented New Research Paper on Corporate Social Responsibility

CESD- Center for Economic and Social Development, leading think tank in Azerbaijan, presented new research paper on corporate social responsibility. The Project is funded by the Konrad-Adenauer-Stiftung. The paper mention that all over the world, corporate social responsibility (CSR) has become more and more popular in the business community. In many developed countries, CSR has taken on the character of strategically planned actions that benefit all levels of society, and it has grown from entrepreneurial initiatives to state policy. In spite of these globally positive trends in this field, the development of corporate social responsibility in Azerbaijan is fragmented. In recent years philanthropy activities among companies in Azerbaijan have become popular, yet few companies have a strategically planned approach to CSR. The development of CSR in Azerbaijan faces numerous challenges on various levels, from the public sector to civil society.

The subject of this paper is to give a comprehensive analysis of the current state of CSR in Azerbaijan, and the way how to make its development more effective. The main tasks of the current study are as follows: to define the main components of the concept of corporate social responsibility; to compare foreign experiences in the field of corporate social responsibility and to highlight positive trends that may serve as role models; to study the history of corporate social responsibility in Azerbaijan; to describe the standing of corporate social responsibility in Azerbaijan in terms of legislation and public perception; to analyze stakeholders’ interests in corporate social responsibility as it relates to governmental and non-governmental agencies; to summarize and to give recommendations on how to institutionalize elements of corporate social responsibility in Azerbaijan.

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