Application peculiarities of corporate social responsibility in the development of the russian region

Regional and branch economy

The transition to the concept of sustainable development and social responsibility makes it particularly relevant for the enterprise management to harmonize economic goals and development plans with the goals of the development of modern society. The purpose of the study is to carry out a comparative analysis of the content of corporate social responsibility (CSR) programs of Russian and foreign oil and gas producers, the status and trends of CSR policy development, performed by large companies operating in the territory of one of the Russian regions, namely, Perm Krai, as well as to draft CSR development proposals. In accordance with study findings, a number of differences was revealed in CSR content of Russian companies. These comprise insufficient state regulation and control, the recurrence of ethical requirements at the acknowledgment of the importance of entering the global market and compliance with international corporate governance standards; insufficient involvement of small and medium-sized businesses into CSR processes, as well as the lack of corporate social programs' effectiveness assessment. Proposals have been drafted in order to coordinate CSR policies on the part of regional and local authorities with a view to formulating priority areas for territory development with corporations' involvement, efficiency increase and transparency of corporate social expenditures. We provide grounds for the need for an integrated CSR development strategy based on intercorporate agreements on cooperation at the state, regional and local levels, using the experience of foreign companies in social programs' scale expansion, their distribution throughout the entire region of deployment and the state as a whole un order to improve the social status of the population. It is important to ensure a more even allocation of social investments in order to level out the differentiation of territories by the level of social and economic development, to create conditions for involving small and medium-sized enterprises into CSR projects that share CSR principles of corporate employees, as well as of the citizens who initiate social projects implementation. Keywords: corporate social responsibility (CSR), CSR policy, social investments, investment process management, Russian region, region territories' development, citizens' initiative.