SOCIAL RESPONSIBILITY AS A TOOL FOR MINIMIZING ECONOMIC RISKS IN A TRANSFORMATIONAL ECONOMY
Keywords:
social responsibility, economic risks, business resilience, transformational economy, corporate governanceAbstract
The article examines the essence and specific features of corporate social responsibility (CSR) in a transformational economy as a tool for minimizing economic risks. The study analyzes the nature and significance of CSR under modern conditions and identifies its impact on enhancing enterprise resilience to strategic, operational, financial, and compliance risks. It is proven that socially responsible business practices contribute to building a positive corporate image, strengthening trust among consumers, partners, and investors, reducing social tensions, and preserving labor potential. Particular attention is paid to the specifics of CSR in the agricultural sector, where economic risks are closely intertwined with environmental, climatic, and social factors. A classification of key enterprise risks (strategic, operational, financial, compliance, and reputational) is systematized, and their interrelation with CSR practices is substantiated. The article highlights the peculiarities of implementing socially responsible practices in the agricultural sector, where various types of risks overlap. It is revealed that active social investments by agricultural enterprises in community development, employee support, and environmental initiatives help mitigate labor migration risks and reputational losses. The findings demonstrate that CSR becomes a source of competitive advantage by providing access to international markets and investment programs and serves as a strategic anti-crisis mechanism capable of minimizing economic risks and ensuring enterprise resilience under the crisis conditions of a transformational economy. At the same time, it is emphasized that the integration level of CSR into the strategic planning of Ukrainian companies remains insufficient due to financial constraints and a short-term business orientation. The study proposes recommendations for developing institutional incentives to strengthen CSR, including tax preferences, grant support, and fostering partnerships between businesses, the state, and communities.
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