Social and Environmental Risks: from Corporate Responsibility Reporting to Modern Business Strategies
Author:
Violeta M. CIMPOERU, PhD student, Professor Chiraţa CARAIANI, PhD, Associate Professor Camelia I. LUNGU, PhD
JEL:
M 40, Q 56
DOI:
Keywords:
corporate responsibility, risks reporting, green strategies, analysis, decision
Abstract:
The crisis that affected over the past two years the entire world`s financial systems is the incentive to move the global economy towards the so-called sustainable development. In the last thirty years global GDP has doubled, but economic growth was based on irrational use of resources which decreased dramatically. The current growth can not be maintained, and social and environmental reporting is a tool of overcome the unpleasant events affecting the world population.\r\nCorporate responsibility’s promoters presents social and environmental reporting as a solution to contemporary social and economic issues and the social reformers are promoting reporting as an effective tool that can really change the world. Since the economic crisis, everyone is talking only in negative terms. That is why it is necessary to highlight a number of positive aspects, and one of them may be greater public attention to the community they live in, compared to high consumption of resources, but also as a starting point for programs on corporate social responsibility and environmental and social reporting.\r\nHowever, the main justification is an economic one because social and environmental reporting generates benefits to a wide range of stakeholders and helps to maximize shareholder value. This involves aligning the interests of social and environmental a large group of partners with the economic interests of a small group composed of owners.\r\nThis article is a contribution to in-depth study on innovation management methods and practices used to mitigate social and environmental risks. In particular, it seeks to introduce corporate responsibility as a source of inspiration for managers who wants to apply modern practices of design decisions and to experiment new strategic visions.\r\n\r\n\r\n\r\n