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CORPORATE SOCIAL RESPONSIBILITY IN THE CZECH REPUBLIC

Zuzana Dvorakova, Katerina Legnerova, Martin John David Quigley

Abstract

The concept of Corporate Social Responsibility (CSR) has been the subject of debate and research with non-profit organizations in the CR since the early 1990’s. CSR has been embedded in Czech society by the Czech based subsidiaries of multinational corporations (MNC’s). It is a strategy whereby the corporations take responsibility for the economic, social and environmental consequences of their business activities. In so doing, they undertake to limit/eliminate the negative impact which they have on their ‘stakeholders’; i.e., all who are affected by the company’s business activities, including the environment. The aim of this paper is to identify and analyse the extent to which the local subsidiaries of MNC’s really do implement and utilize the CSR concept in favour of the stakeholders. The local trends are characterized in terms of quantity and quality. Year by year, a growing number of businesses formulate CSR strategies, as well as developing CSR projects. In addition, the companies also constantly improve on the quality of these projects. They focus on disadvantaged communities, the sustainability of CSR activities, as well as quantifying the benefits for business, as well as for society as a whole. Philanthropy continues to occupy a prominent place in CSR projects. However, the austerity measures contained in successive national budgets have given greater encouragement to firms’ adopting practices which make CSR an integral part of their core business activities. This paper is being produced as one of the outputs of the development project: “The Development of Teaching in the CSR Concept, Based on Imparting the Teaching Institution’s Own Experience of the Subject”. This project has been ordered by the Ministry of Education of the Czech Republic, and it runs from 1st January 2014 to 31st December, 2014.

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DOI resolver: doi.org/10.5593/sgemsocial2014/B12/S2.022

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