The Corporate Social Responsibility Practices in Romania in the Context of Sustainable Development Principles

Abstract

This study aims at analyzing the corporate social responsibility (CSR) issue and the means to integrate it into long-term strategies of Romanian companies.

The corporate social responsibility concept (CSR) developed due to the change in the business view, from a limited model, mainly oriented towards profit through the maximum use of resources, to an open one, largely concerned with the quality of life, preservation of resources and meeting the general interests of society. In other words, a view included in the sustainable development principles. The sustainable development is commonly understood as the ability of the current generation to meet its needs without compromising the ability of future generations to meet theirs.

But what does corporate social responsibility concept actually represent? The World Business Council for Sustainable Development use the following definition: Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.

CSR practices still remain quite controversial and opened to debate at international level, in terms of requirements, opportunities and benefits generated to companies, although the reality indicates that they are not a temporary trend, but tend to become permanent, as a legitimate component of the business environment. Viscount Etienne Davignon once said that 'social responsibility means neither charity nor PR exercises, but an intelligent investment which brings benefits both to the company and to the whole community.'

The companies' social commitment has become a significant competitive edge in the new economy, and Romania follows this international trend, CSR actions becoming more and more visible and numerous, both in the business environments and at governmental level. The local organizational culture being only at the beginning, the CSR concept was initially used by national companies more as a marketing and media coverage instrument, rather than for its ethical values. As time went by, it became clear that the business environment is a key element in finding solutions to community issues. To be socially responsible does not mean sporadic philanthropic actions or an intense public relations activity, but a business philosophy accepted by companies voluntarily, manifest in a continuous behaviour.

Keywords: corporate social responsibility, business environment, sustainable development, Romania, corporate citizenship

JEL Classification: M14, Q01