- Published: September 20, 2022
- Updated: September 20, 2022
- University / College: University of Nevada - Las Vegas
- Language: English
- Downloads: 1
Most developed countries are characterized by the presence of extremely successful companies operational in these countries. Outstanding examples are countries from the United States and Europe. However, it has been determined that one of the main factors that has seen this companies sail to excellence and dominance in the market is the Corporate Social Responsibility (CSR) (Banerjee, 2007). This refers to the ability of a company to integrate economics, environmental, and social imperatives into their business activities with a goal of upholding business success, as well as the improvement of lives of all individuals attached to the company. Russia has been ignorant on this aspect for a long time. Companies have consistently ignored the value of CSR in business. As a result of this, business in the country has witnessed massive competition from other countries. International businesses do better in the country than domestic companies (Kraenner, 2008).
There have been analyses on how the economy of the country can grow extensively if the country recognized the CSR and imposed it to all companies operating within the country’s borders. However, there are various companies in Russia with some of them adopting the CSR business technique while others have remained ignorant of the business strategy. There exists massive differences between the companies that have adopted the business technique in contrary to the ones that have ignored this force (Mallin, 2009).
Sakhalin Energy Investment Company is one of the companies that have chosen to employ the CSR strategy. This is a company that is exposed to extensive financial strength as it has been operational for an outstanding period of time and is one of the largest energy companies in Russia. It is involvement in the CSR business operations; the company respects several elements within its operations. As dictated in the requirements for proper implementation of CSR, environmental conservation and proper treatment for employees have been considered concrete requirements for the proper running of an organization.
Being a company dealing with energy products like petroleum, the company has considered maintenance of a clean environment as one of the main business targets. It ensures that, in all its business activities, the wellbeing of the society remains intact following clean environment (Kostin, 2011).
On the other hand, Transaero Airlines, which is a renowned Airline company, has been reluctant to employ the CSR business strategy in its operations. Although, the company is international it does not fully respect the influence of Corporate Social responsibility towards the success of the company in service delivery and maintenance of a proper relationship with customers. One of the aspects that make the company reluctant to full adoption of CSR is its habit of low payments to its employees (Soboleva, 2007).
Based on their activities, these companies have extensive differences in terms of benefits and challenges that they are likely to face in their operations. Sakhalin has enjoyed several benefits out of company’s respect to CSR. It has recognized that despite operating in the energy sector which is characterized of dirty environment the company has maintained cleanliness through adoption of necessary strategies to eradicate pollution in the environment (WeltWeit, 2012). This has made the company attractive to many individuals for business as well as employees.
On the other hand, Transaero Airlines has remained ignorant of proper compensation plan for its employees, which is a negative trait for an international company. This has exposed the company into extensive challenges on business operations. It can never attract outstanding employees since it cannot afford to pay them. Also, not all business partners will be willing to work with an irresponsible company that does not care of its employees (Werning, 2002).
Corporate Social Responsibility as a method of integrating economic, social and environment responsiveness of a company remains a challenge to some companies in Russia. However, some companies have respected the element and have adopted it in their business operations. The implementers have accessed adverse merits while those, which have remained ignorant have been exposed to extensive challenges.
Banerjee, S., B., 2007., Corporate social responsibility the good, the bad and the ugly. Cheltenham, UK: Edward Elgar.
Kostin, A., 2011, October 5., CSR can unlock Russia’s economic potential | Modern Russia. Modern Russia. Retrieved April 16, 2013, from http://www. modernrussia. com/content/csr-can-unlock-russias-economic-potential
Kraenner, S., 2008., Energy security: re-measuring the world. London: Earthscan.
Mallin, C., A., 2009., Corporate social responsibility a case study approach. Cheltenham: Edward Elgar.
Soboleva, I., 2007., Controversies in International Corporate Responsibility. International Corporate Responsibility Series, 3, 269-282.
WeltWeit., 2012, October 23., Russia: CSR. CSR WeltWeit: CSR. Retrieved April 16, 2013, from http://www. csr-weltweit. de/en/laenderprofile/profil/russische-foederation/index. nc. html
Werning, B., 2002., TRANSAERO: a European initiative on transient aerodynamics for railway system optimisation. Berlin: Springer.
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