THE INTERACTION BETWEEN CORPORATE SOCIAL RESPONSIBILITY AND COMPETITIVENESS DURING THE ECONOMIC DOWNTURN
DOI:
https://doi.org/10.5755/j01.em.18.1.4005Keywords:
competitiveness, corporate social responsibility, economic downturn, employee motivation, innovationAbstract
The authors of the article analyze the interaction between corporate social responsibility and competitiveness during the economic downturn. The paper is focused on corporate social responsibility as factor enhancing the competitiveness of enterprises during the economic downturn. Under the impact of scientific, technological, educational, cultural and economic changes the concept of competitiveness has assuming a new meaning. The competitiveness of enterprises is increasingly linked to their ability to respond to the needs of society. The paper deals with the impact of economic downturn on competitiveness of Lithuanian enterprises. The economic downturn negatively impacted on the performance of Lithuanian enterprises and so on its competitiveness too. The impacts of economic downturn on competitiveness of enterprises were financial, economic and organizational. Researched the benefit of corporate social responsibility for the competitiveness of enterprises, the authors found that an active development of socially responsible principles and practice helped enterprises to survive better the economic downturn, was beneficial not only for enterprises but also for society and became an important factor for enhancing competitiveness of enterprises in difficult economic times.
