Corporate social responsibility management of innovation-oriented enterprise: strategic approach in the context of sustainable development

Abstract

Transformational processes in the economy due to digitalization, strengthening of global challenges and strategic focus on achieving sustainable development goals actualize the need to revise the conceptual framework of corporate social responsibility (CSR) management, especially in the context of the functioning of innovation-oriented enterprises. Modern business conditions require the introduction of strategic mechanisms for CSR integration into the corporate governance system, accounting and analytical support, and internal control, taking into account ESG criteria, the increasing importance of non-financial reporting, and the growing public demand for transparency of business regarding environmental, social and managerial aspects of its activities. The goal of research to form a conceptual model of corporate social responsibility management that integrates the innovative potential of the enterprise with the principles of sustainable development to strengthen reputational capital, increase competitiveness, and create long-term value for stakeholders. The methodological basis of the research consists of: a system-structural approach – to identify the interrelationships between innovation activities and CSR components; methods of analysis and synthesis - for critical understanding of scientific sources and practices; strategic management accounting - to assess the effectiveness of implementing socially responsible initiatives; ESG-analysis - as a tool for integrating environmental, social and managerial factors into the process of management decision-making at the enterprise. Results. The research developed a conceptual model of corporate social responsibility management of an innovation-oriented enterprise, which provides for its integration into strategic management, operational activities, accounting systems, and internal control. It is proved that the synergy of innovative development and social responsibility provides the formation of long-term value of the enterprise, strengthening the trust of stakeholders, as well as increasing both financial and non-financial stability. The expediency of transformation of the management accounting system in the direction of monitoring social and environmental indicators, a critical condition for accountability by international sustainable development standards, has been substantiated. Conclusions. Effective management of corporate social responsibility of an innovation-oriented enterprise should be based on a strategic approach aimed at creating integrated value for business, society, and the environment. Integration of ESG-principles in combination with the development of innovation potential contributes to strengthening the competitive position of the enterprise, formation of sustainable reputational capital, and increasing its ability to adapt to global challenges of sustainable development.