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THE CHALLENGES OF DEVELOPING SUSTAINABILITY PROGRAMS FOR INTERNATIONAL COMPANIES OPERATING IN RUSSIA
Abstract
The purpose of the report was to examine contemporary conditions for developing and promoting sustainability initiatives for companies in Russia. Namely, the working paper focused on international companies operating in Russia and transformational process of international sustainability initiatives being introduced for the emerging market. The methodology of the research included: analysis of work practices in terms of descriptive research, analysis of statistical and historical data, and comparative analysis of existing practices. The research also encompassed relational study in order to investigate the relationships between established and emerging corporate sustainability practices, as well as prediction study, carried out for establishing possible sequence of actions for the development and wide adoption of sustainability practices in Russia. The major findings of the report rely on the assumption that key international companies operating in Russia need to use benchmarking in transforming sustainability practices in terms of three main pillars: environment, social responsibility and human resources. As sustainability of these three pillars has already been adopted as integral part of strategy in the developed countries, the working model will be transmitted to the corporate levels of operations in Russia. Thus, the international agents can act as driving forces for promoting sustainability practices and their strategic implication to the level of national and business legal base. The main aim of the scientific paper was to provide distinct impact across Russian corporate sustainability practices as well as business and management research network. The delivery of the results and coverage of the topic will provide substantial background for further actions on adopting sustainability practices and changing strategic mindset in Russian corporate practices.
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