Corporate social responsibility as a key of stable development: analysis of the enterprises of oil and gas industry

Yevhen Yevhenovych Ionin, Liliia Oleksandrivna Tarasenko


Abstract


Social responsibility of business takes a special place in the terms of modern development strategy of the economy of Ukraine. This responsibility suggests such direction of the enterprise activity, which takes into account not only the personal interests of the company, but also the needs of society. The continuation of European integration processes, the exit of companies into international markets require from the business entities appropriate openness and transparency, coverage of the goals of achieving the goal of the enterprise, the tools at which such a goal is achieved. The multidimensional nature of links, which are arising during the operational activity, leads to the existence of significant impact on the internal and external environment of the enterprise. Issues of corporate social responsibility of public-interest enterprises, which, in particular, are part of the oil and gas industry, are of particular relevance. The article analyses the current state of carrying out socially responsible activity at foreign and domestic enterprises of the oil and gas industry. The components of corporate social responsibility and their impact on the enterprise` functioning and on satisfaction of social needs are investigated. The socially responsible activity has positive nature, however, at the same time, there are certain barriers of the strategy` implementation within the framework of the mentioned activity, among which financing is a key issue that requires the enterprise to properly plan and analyse the costs of socially responsible doing business. The need for planning and evaluating corporate social responsibility programs is highlighted in the article. Using the example of gas transportation enterprise, the SWOT-analysis as an instrument of obtaining information for justified decision-making is reviewed.


Keywords


corporate social responsibility; oil and gas industry; development strategy; inclusive economy; analysis of socially responsible activities; components of social responsibility; international standard; SWOT-analysis

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References


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DOI: http://dx.doi.org/10.35774/econa2018.02.145

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Articles are distributed under Creative Commons Attribution  International 4.0 (CC-BY-NC 4.0) 


Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa


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