Some Aspects of Corporate Social Responsibility and Company Reputation

Evidence from Serbian Business Environment

Authors

DOI:

https://doi.org/10.7595/management.fon.2021.0024

Keywords:

corporate social responsibility, corporate reputation, customer shopping behaviour, consumers’ decisions, ethical responsibility, COVID-19 pandemic

Abstract

Research question: This paper examines some aspects of corporate social responsibility (CSR) and company reputation (CR) in the Serbian business environment during the COVID-19 pandemic. Motivation: The survival, growth and development of companies in the current business environment are conditioned by their capability to reach socially responsible decisions and carry out activities that meet the expectations of different stakeholders. The main motive for this research has stemmed from the current global corona virus pandemic and the way this state of affairs has affected socially responsible behaviour of companies. The research of activities Serbian companies carried out in the time of crisis prompted us to explore the possible relationship between corporate social responsibility and its effects on corporate reputation, and consequently business results. Research idea: An empirical research has been conducted with the view to investigate the position of the public on the importance and impact of CSR on corporate reputation, and also to determine the key factors that guide the decisions of people living in the Republic of Serbia to shop, bearing in mind the socially responsible behaviour of companies. Data: The sample included 173 respondents, the number that allowed valid conclusions. The questionnaire was anonymous; all the respondents were residents of Serbia with access to the internet and willing to fill in the questionnaire, either by following the link advertised on social media or replying to the e-mail. Tools: The gathered data were processed and analysed using descriptive and explorative statistics. Research hypotheses were tested by: Frequency tables, Crosstable procedures, Paired Samples t-test, Spearman`s coefficient of correlation, Chi-square test, and Phi coefficient of correlation, resulting in conclusions and corresponding suggestions. Findings: Respondents perceive companies as social actors driven not only by profit, but by the interest of the community and their business environment. They believe companies can assume their responsibilities through different aspects of doing business, especially by contributing to the improvement of their consumer’s lifestyle. The majority of respondents tend to buy from companies they perceive as socially responsible from the point of view of further development of the society and their ethical behaviour towards the community.  Contribution: The findings can encourage the company’s management to direct their financial and organizational resources into the better management of the CSR, especially during the crisis, because solidarity and care for the most vulnerable part of the population lead to an improvement in the reputation and business results of a company.

Author Biographies

Biljana Chroneos Krasavac, University of Belgrade, Faculty of Economics, Serbia

Chroneos Krasavac Biljana, a PhD in Business Administration, was born in 1964 in Novi Sad. Ms. Chroneos Krasavac worked in numerous projects funded by the US Government, and/or the USAID. In August 2006, she was appointed by the Government of the Republic of Serbia as Serbia's Representative with the World Bank in Washington. In addition to the experience gained at the World Bank, she has also gained several years long experience by working for the Government in the capacity of Special Advisor to the Minister of Finance and Advisor to the Director of the Flood Affected Areas Assistance and Rehabilitation Office. Currently, she is holding the position of the Director of the World Bank project “Inclusion and Early Childhood Development“

Ema Karamata, University of Belgrade, Faculty of Economics, Serbia

 

 

 

 

Karamata Ema had graduated from the University of Belgrade, Faculty of Economics, where she has also gained her Master's Degree, and where she is currently enrolled as a PhD student at the Business Management department. The main areas of Ema's interests and expertise are: business management, information technologies, digital marketing, data analysis. She has participated in a number of projects in a domain of business management, and conducted several surveys.

Jasna Soldić-Aleksić, University of Belgrade, Faculty of Economics, Serbia

Soldić-Aleksić Jasna holds a position of Full professor at the Department of Mathematics and Statistics, Faculty of Economics, University of Belgrade. Her main subjects of research are: applied data analysis, business data management and applications. She has gained research experience at the London School of Economics and Political Science, Central European University in Budapest, Limburg Business School, Belgium; Faculty of Management Science and Information Systems, State University of New York. She is a member of the following professional bodies: International Association of Statistical Computing, Serbian Association of Economists, Serbian Marketing Association SEMA. She has published a a number books on the subject of the applied data analysis and over 100 articles in the relevant scientific and professional journals.

Katica Radosavljević, University of Belgrade, Faculty of Economics, Serbia

Katica Radosavljević was born on 16 July, 1975 in Gothenburg, Sweden. Since 2000, Katica Radosavljević has been employed at the Faculty of Economics University of Belgrade, as a Research Associate. She defended her PhD dissertation on the following subject “The strategy of marketing channel development in agribusiness of the Republic of Serbia”. She was a manager of two projects related to the valuation of corporate capital. She also assisted on numerous projects.

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Published

2021-12-14

How to Cite

Chroneos Krasavac, B., Karamata, E., Soldić-Aleksić, J., & Radosavljević, K. (2021). Some Aspects of Corporate Social Responsibility and Company Reputation: Evidence from Serbian Business Environment. Management:Journal of Sustainable Business and Management Solutions in Emerging Economies, 26(3), 47–60. https://doi.org/10.7595/management.fon.2021.0024

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