Application Features of the Social Responsibility System by Small and Medium-sized Businesses

Abstract

The article is devoted to the study of the benefits for small and medium-sized businesses from the introduction of a social responsibility system. Currently, an increasing number of companies are striving to be socially responsible, responding to the challenges of our time, as society expects help in solving social problems, protection and support of citizens not only from the state, but also from business. A good example was the activity of companies within the framework of the SR during the COVID-19 pandemic, when businesses had to adapt to the situation, take responsibility not only for themselves, but also to support their stakeholders. At the same time, the question of why it is useful for small businesses to apply the concept of SR in their activities becomes important. This determines the relevance of this study. The purpose of the study is to reveal the advantages of implementing a social responsibility system for the development of small and medium-sized businesses. To achieve this goal, it is necessary to solve several tasks: to clarify the concept of “social responsibility” in relation to the activities of small and medium-sized businesses; to conduct a SWOT analysis with SMEs as opposed to CSR; to identify possible benefits from the implementation of the concept. The methodology of this study were a comparative analysis; a method for analysing and synthesizing information about the social responsibility system; a survey among representatives of SMEs. As a result of the study, the features of the implementation of social responsibility by small and medium-sized businesses were identified. In the article, the author reveals the advantages of entrepreneurs from the introduction of social responsibility, designates the rating of their importance for business based on the survey. Special attention is paid to successful cases among SMEs in the implementation of SR. The author demonstrates that the application of social responsibility is a win-win strategy, both for the company and for society.