THE IMAGE OF THE DIGITAL COMPANY THROUGH THE PRISM OF CORPORATE SOCIAL RESPONSIBILITY. STUDY OF THE INFLUENCE OF CORPORATE SOCIAL RESPONSIBILITY ON BRAND FORMATION OF IT COMPANIES

Keywords: brand, competitiveness, corporate social responsibility (CSR), IT companies, environmental initiatives, investor, report

Abstract

The aim of this article is to explore the impact of corporate social responsibility (CSR) on the brand formation of IT companies. The relevance of the topic is driven by increasing societal expectations for ethical business practices and sustainable development, prompting IT companies to integrate social and environmental aspects into their strategies. The article employs the following methods: the search method for existing methodological and scientific literature with an analysis of the gathered material; the method of systematization to organize and structure the collected information regarding various aspects of CSR, such as financial transparency, environmental responsibility, ethical business practices, inclusivity, and social activity, which helped create a clear picture of the studied phenomenon and ensure logical consistency in the presentation of the material; and the method of concretization to highlight specific examples and cases from IT companies’ practices that illustrate the impact of CSR on brand formation. The results of the study indicate that financial transparency, environmental responsibility, and ethical business practices positively influence the perception of IT company brands. IT companies that actively implement CSR initiatives demonstrate higher levels of customer trust and loyalty, which strengthens their market competitiveness. Specifically, regular disclosure of CSR reports and engagement with stakeholders enhance the company’s image. For example, companies using eco-friendly materials and energy-efficient technologies contribute to increased consumer trust and bolster their reputation. Additionally, the article shows that active community involvement, inclusivity and diversity, and innovative technological solutions are integral components of a successful CSR strategy. The practical value of the article lies in its potential for guiding the integration of CSR into IT companies' strategies. Furthermore, the article highlights the importance of social activity, inclusivity, and innovative solutions as critical elements of a successful CSR strategy, contributing to sustainable development and the strengthening of global market positions.

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Published
2024-07-29
How to Cite
Tereshchuk , A. (2024). THE IMAGE OF THE DIGITAL COMPANY THROUGH THE PRISM OF CORPORATE SOCIAL RESPONSIBILITY. STUDY OF THE INFLUENCE OF CORPORATE SOCIAL RESPONSIBILITY ON BRAND FORMATION OF IT COMPANIES. Economy and Society, (65). https://doi.org/10.32782/2524-0072/2024-65-21
Section
MARKETING