Perspectives in Corporate Social Actions and Social and Financial Performance

Sági, Judit (2019) Perspectives in Corporate Social Actions and Social and Financial Performance. POLGÁRI SZEMLE: GAZDASÁGI ÉS TÁRSADALMI FOLYÓIRAT, 15 (Spec). pp. 350-362. ISSN 1786-6553

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Abstract

The conceptual framework of CSAs in Hungary is evolving in line with the international standards; however, there is a certain delay in conceptualising these actions into a strategic framework in private sector organisations. There seems to be a distinction between for-profit and non-profit stakeholders; the former are characterised by corporate social responsibility initiatives, whilst the latter rely on the sustainability of these initiatives. The author is aware of the fact that these phenomena are likely due to the country being an emerging economy in Europe, and argues that, in a broader context, social actions, if remaining segregated, are insufficient to solve civil society problems. With consideration to social needs (poverty and social inclusion), the arguments for the appropriate targeting and sustainability of CSAs are emphatic, and a shift towards a more strategic concept of social investment is essential. In this perspective, the author argues for the significance of knowledge transfer (i.e. from consultancy partners to civil organisations, or between for-profit organisations) in encouraging networking and increasing the forms of employee community engagement. At the end of the paper, the placing of a project (sign-language distant service to help disabled/ deaf persons) into a sustainable and financially sound framework is described.

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