УДК: 338.24:005.35

DOI: https://doi.org/10.36887/2415-8453-2023-3-48

Bilyk Rostyslav
Doctor of Economic Sciences, Associate Professor, Associate Professor of the Department of economic theory, management and administration of the Yuriy Fedkovych Chernivtsi National University
https://orcid.org/0000-0002-1894-6828
Varvus Andrii
Postgraduate of the Department of economic theory, management and administration of the Yuriy Fedkovych Chernivtsi National University
https://orcid.org/0000-0003-4529-6223

JEL classification: М14

Introduction. Social responsibility contributes to building a positive image for the company and strengthening the trust and loyalty of customers and partners, which are critically important aspects in maintaining competitiveness and security of business. In addition, the responsible behavior of companies reduces the risks associated with non-compliance with environmental standards and norms of social justice. Considering global challenges such as war, inequality, and the need for sustainable development, the social responsibility of business becomes an element of corporate strategy and an essential component of overall economic security. The study and implementation of the principles of social responsibility in the conditions of the modern business environment have a significant potential for increasing the level of economic security of enterprises, promoting their stable development, and positively impacting society in general. Thus, this article focuses on essential aspects of a business’s social responsibility in supporting and expanding commercial activity in Ukraine in modern conditions.

The article aims to study modern processes of the development of social responsibility in business to strengthen the security of entrepreneurship in modern economic conditions.

The results. The main aspects of the social responsibility of business and its role in increasing the efficiency of enterprise security are studied. The level of social responsibility of Ukrainian companies is characterized. Ways to increase business activity by forming a positive image, strengthening reputation, and establishing strong relations with clients and partners were studied. The concept of “social responsibility of business” is defined. The main functions of social responsibility in business have been studied.

Conclusions. The development of social responsibility in crises, in particular during war, is substantiated. Recommendations on applying a modern social responsibility model to increase business activity have been developed, considering the values and specifics of Ukrainian society.

Keywords: social responsibility, entrepreneurship, business, competitiveness, social projects.

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The article was received 12.07.2023