Contemporary Strategic Approaches for Social Value Creation based on Dimensions of Organizational Performance

Abstract

The transformative power of economic policies in the European market increasingly brings into question the responsibility of business leaders about the effects of corporate activity on the social environment. Following the trend of achieving competitive advantage in the market and ensuring sustainable development through the production of sustainable social values, world business leaders apply the concept of social responsibility within the corporate governance. For the contemporary world, the approach represents a new model of economic democracy, whose political function is mirrored in their efforts to achieve sustainable development based on economic, environmental and social justice. The main focus of scientific interest is placed on the process of creating CSR policies determined by the EERI framework of Organizational performance as a process on organizational level and integration of CSR concept into organizational strategy. The research was conducted in 155 Macedonian companies from a deliberate target sample of companies. According to the principles of general methodology and specifics of the subject, the research was conducted on two levels: theoretical and empirical. The results of the research confirmed the significant influence of each of the dimensions of the organizational performance framework (EERI) on the process of creating CSR policies.