Corporate Social Responsibility - A Business Opportunity or Obligation for Georgian Companies

Tea Kasradze and Sopio Machkhashvili
Caucasus International University

Abstract

Abstract Corporate social responsibility (CSR) is a relatively new concept for Georgia. Its history is not even two decades old, and the development process is taking place at a slow pace. In recent years, the concept of social responsibility has been more or less accepted by large businesses. From non-systematic CSR activities, companies are slowly moving to a strategic approach, although their social initiatives are mainly focused on increasing the well-being of vulnerable groups of society, which on the one hand is caused by the insufficient level of awareness of CSR in the business sector, and on the other hand by the limited expectations of society. Because society’s perception of CSR is mainly related to philanthropy. The presented work is an analysis of modern trends in the development of CSR in Georgia using qualitative and quantitative secondary data. It is based on the works and studies of various scientists. Qualitative analysis, namely statistical and thematic analysis methods are used as the analysis method. Keywords: corporate social responsibility, business strategy, altruistic responsibility, business opportunity, competitive advantage, sustainable development

Presentation