DOI: https://doi.org/10.36719/2706-6185/48/159-167
Arifa Nabiyeva
Baku State University
Master student
https://orcid.org/0009-0007-8407-1576
aarifajafan@icloud.com
Application Direction, Problems and Prospective Solutions of
Corporate Social Responsibility in Azerbaijan
Abstract
In the process, companies were previously seen as organizations that only aimed to make profit and whose sole purpose was to satisfy their owners by making higher profits. For this reason, the welfare of employees and society was seen as secondary. Today, companies are not only defined as economic organizations, but also as social organizations. The change of direction of society's expectations is important for the business to gain an original identity. For consumers, the material value and quality of a product or service are not enough to buy it, it is necessary to look at how much the product they buy benefits the business for society and what it does. Today, successful businesses make a difference not only with their product and service quality, but also with their social profiles. With the increase in competition with globalization and the resulting increasing competition environment, quality, price and service quality are no longer the differentiating factors for institutions. In such an environment, business reputation gains great importance. In this context, this study addresses the place and importance of corporate social responsibility in creating corporate reputation. Based on the nuances we have listed, we can say that it is very important to investigate this area and solve the problems that arise in front of it, and the research work we have presented covers very important factors in this regard. In the research work, we mainly analyze cooperative social responsibility in Azerbaijan and the obstacles and prospects facing it.
Keywords: social responsibility, corporate citizenship, shareholders activism, social profitability