Competitive advantages to business based on Corporate Social Responsibility

W artykule zostały przedstawione tradycyjne modele budowania przewagi konkurencyjnej: model pięciu sił, model bazujący na wykorzystaniu zasobów i model sieciowy, jako instrumenty pomocne w tworzeniu modelu budowania przewagi konkurencyjnej opartej na społecznej odpowiedzialności biznesu. Ten ostatni pociąga za sobą zmiany w strukturze organizacji, zmiany celów organizacji i sposobów ich realizacji, jak również zmianę kultury organizacyjnej. W efekcie firma jest przygotowana do spełniania rozsądnych oczekiwań interesariuszy oraz potrafi koordynować i integrować złożone relacje i cele. Jednakże model CSR powinien być zindywidualizowany i uwzględniać zarówno specyfikę danej firmy, jak i specyfikę jej otoczeniaThe article presents traditional models of building competitive advantage in business: the model of five forces, the model of resource based approach and the model of network approach, as tools helpful in creating a model of socially responsible business competitive advantages formation. It involves changes in a company's structure, changing company's objectives and the ways they are obtained and creating a new corporate culture. The outcome is a company prepared to answer reasonable expectations of stakeholders and being able to coordinate and integrate complex relationships and aims. However, the CSR model should be customised for each company, taking into consideration its specific features as well as the features of its surroundin

Verslo socialinės atsakomybės teorijų raida

Recently, the issues of social responsibility of business in the US and EU states have been extensively addressed not only by researchers, but also by CEOs of enterprises, politicians, executive governmental authorities, trade unions, non-governmental organisations. This can be judged from the increasing number of publications on this issue as well as states’ governmental acts passed to initiate and encourage corporate social responsibility initiatives. The article deals with the development of social responsibility of business in the context of the prevailing economic and manageral theoretical models. Although the concept of corporate social responsibility has been developed in the second half of the 20th century, the social role of business has been mentioned in the English classical political economy research studies. We can state that A. Smith and D. Richard essentially formulated the elements of the concept of corporate social responsibility in business operating within the free competition scheme. K. Marx’s theoretical models provide a specific conception of social responsibility, which is actually radically different from that of the classical English political economy approach. Through imposing the value added production function to the capital and by giving its critical assessment, Marx presented his interpretation of social responsibility of both market economy and of alleged public limited company.An important stage in the corporate social responsibility study was the introduction and promotion of stakeholders theory which was reviewed in detail by R. Freeman in his monograph in 1984. He then modified a conventional corporation input-output model which accepted only four groups of players as directly linked to the firm’s activity: shareholders, workers, suppliers and customers, by expanding the influences’ list to governmental bodies, political groups, trade associations, trade unions, communities, associated corporations, environmentalists, human and customer rights’ proponents and other vested parties whose interests are important to business and undertakings. Stakeholders theory admits the importance of corporate responsibility and the necessity of related costs. It maintains that the support of stakeholders adds to formation of a firm-friendly environment and positively affects a firm’s operation results. Despite its popularity, stakeholders theory however failed the overall unconditional acclaim and has been subject to criticism both in the theoretical and empirical aspects.Corporate social responsibility analysis has been closely related to strategic corporate governance issues. This is obviously featured in a rather popular resource-based view model. The model maintains that every firm possesses a unique specific combination of resources and competences. Should these resources and capacities prove to show indeed valued, unique, rare and indispensable, they can actually make for the exclusive competitive advantage to the firm. Certainly, companies strive to identify, sustain and develop this advantage.Modem society shows an obvious growing influence of corporate social responsibility supporters. It shoved be noted that stakeholders, who a couple decades ago used to demand managerial social responsibility, sought arguments in the defence of their positions primarily in the ethics research works. Lately there has been a general tendency to justify the social responsibility of business on the account of financial benefit consideration. Also, an important thing is that even amongst the conventional neoclassical economic scholars increasing are studies that attempt to justify the costs of corporate social programmes through revealing their efficiency on a long-term scale. As a joint-point to enable incorporation of social expenses in the neoclassical profit maximisation model, the conception of strategic investment has been used lately. Classical enterprise theory makes impossible the maximization of the two values simultaneously - the profit and social benefit. Some researchers, however, through the use of traditional macroeconomic analysis instruments, seek to prove that corporate social programmes should be approached as strategic investment. In this respect, the dimensions of profit and social responsibility maximisation coincide.In Lithuania, corporate social responsibility has been mostly assessed in the context of human resource theory. Empiric analysis in the field remains in its initial stage.Straipsnyje nagrinėjama verslo socialinės atsakomybės sampratos ir įtakos kaita paplitusių ekonomikos ir vadybos teorijų kontekste. Analizuojami valstybės institucijų, piliečių ir jų organizacijų verslo santykiai, atskleidžiamos verslo socialinių funkcijų traktuotės evoliucionuojant rinkos ūkiui. Korporacijų socialinės atsakomybės koncepcija buvo išplėtota antrojoje XX amžiaus pusėje, tačiau verslo socialinių funkcijų klausimo ištakos - anglų klasikinės politinės ekonomijos atstovų darbai. Svarbiu įmonių socialinės atsakomybės tyrinėjimo etapu tapo suinteresuotųjų grupių teorijos plėtra ir raida. Įmonės išteklių požiūrio teorijoje išryškėjo tendencija verslo socialinį atsakingumą grįsti finansine nauda. Net tradicinės neoklasikinės ekonominės minties atstovų darbuose gausėja argumentų, pateisinančių įmonių socialinių programų kaštus ilgą laikotarpį. Lietuvoje socialinės atsakomybės tyrimai plėtojami žmoniškųjų išteklių teorijos kontekste

STIMULATION OF INNOVATIVE-INVESTMENT PROCESS: WORLD EXPERIENCE

In the article results of the comparative analysis of world experience of stimulation of innovative-investment process through theformation of a favorable tax climate are generalized. Development of tax stimulation of innovation activity is considered as a crucialfactor in building a new model of economic growth. It is concluded that within the subject principle there are three elements of thestimulation instrument: amortization privileges, preferences concerning the profits tax, indirect measures of tax stimulation. Conclusionson potential use of foreign tax instruments of stimulation of innovation activity in the Russian conditions are presented.KEY WORDS: tax stimulation, innovation activity, tax credits, investment tax credit, tax research credit, amortization, profit tax ofthe organizations, R&D, modernization

Regiono ekonominio augimo vertinimo metodologinės problemos

The importance of regional economic growth is emphasized in many countries and their regional policy documents. This issue is emphasized also by many researchers. D. Genaro and E. Melchor (2010) state that by the time of A. Smith, economists started to focus on a problem of economic growth. According to the authors, in recent years, economists have moved from economic interest in the operating cycle analysis to the medium and long-term revenue growth influencing factors analysis. This analysis is very important because as stated by L. Ayala and A. Jurado (2011), many countries or regions economic growth reduces poverty indicators; inequalities reduction is encouraging by policy measures. Despite ongoing national regional policy programs or the Structural Funds of the European Union or the Structural Funds, significant regional differences still exists. There must be emphasized the fact that in theories of regional development a lot of attention are paid on focus what conditions are favorable for creating economic growth in the region. There are focused on modernization of the economical sectors and international business development. The new models of regional development theories visible bring together economic, management and other modern concepts of social integration.KEYWORDS: regions, regional economic growth, economic growth models.JEL CODES: R110, R150, 0410, 0470.DOI: http://dx.doi.org/10.15181/rfds.v15i1.98

ĮMONIŲ SOCIALINĖS ATSAKOMYBĖS ĮTAKA REGIONINEI PLĖTRAI

Regionams tampant ekonominio ir socialinio gyvenimo pagrindu, įmonės į savo veiklos strategijas turi įtraukti nacionaliniu ir regioniniupagrindu susiformavusias vertybes bei socialinius poreikius. Kompanijos, ypač tarptautinės, turi suderinti regioninę integracijąsu regionine atsakomybe. Straipsnyje analizuojama įmonių socialinės atsakomybės, kaip regioninės plėtros strategijų priemonės,koncepcija. Pagrindinė suformuluota išvada – įmonių veiklos rezultatai ir regionų išsivystymas yra glaudžiai susiję.PAGRINDINIAI ŽODŽIAI: įmonių socialinė atsakomybė, regionalizacija, regionų išsivystymas, tarptautinės kompanijos.DOI: http://dx.doi.org/10.15181/rfds.v9i1.59

INTERNETINĖS RINKODAROS TENDENCIJOS IR EFEKTYVUMO VERTINIMO KRITERIJAI

Sparti internetinės rinkodaros plėtra neišvengiamai skatina investicijų šioje srityje augimą, tačiau įmonėms gana sudėtinga prognozuoti internetinės rinkodaros programų atsiperkamumą. Internetinės rinkodaros efektyvumo vertinimo kriterijai ir jo didinimo kryptys mokslinėje literatūroje nepakankamai ištirtos. Tyrimu siekta išanalizuoti internetinės rinkodaros krypčių efektyvumo vertinimo kriterijus ir jo didinimo galimybes. Straipsnyje, atlikus lyginamąją mokslinės literatūros analizę, atskleistos naujausios internetinės rinkodaros tendencijos, siejamos su antros kartos žiniatinkliu, lokalizacija ir daugiaekraniškumu. Pagrindinėmis internetinės rinkodaros kryptimis tampa paieškos sistemų optimizavimas ir rinkodara, elektroninio pašto ir invazinė rinkodara, sindikuotas turinys ir RSS, reitingų tinklalapiai, socialiniai tinklai, forumai, tinklalaidė, tinklaraščiai, valdikliai. Šių krypčių efektyvumas gali būti vertinamas finansiniais ir nefinansiniais rodikliais. Nefinansinių rodiklių pagrindas – vartotojų teikiamos pirmenybės. Finansiniais internetinės rinkodaros efektyvumo rodikliais tampa lankomumo, investicijų pelningumo (ROI) ir konversijos rodikliai.PAGRINDINIAI ŽODŽIAI: internetinė rinkodara, efektyvumas, internetinės rinkodaros priemonės, internetinės rinkodaros efektyvumas

SOCIALIAI ATSAKINGĄ VARTOJIMĄ LEMIANTYS VEIKSNIAI IR RIBOJANČIOS PRIEŽASTYS

The purpose of the article is to identify the key factors influencing socially responsible consumption and the reasons why consumers do not choose products of socially responsible companies. The article highlights two dimensions of socially responsible consumption: environmental dimension (avoidance to buy products that have a negative impact on the environment) and public dimension (avoidance to buy product of companies who have a negative impact on the welfare of the public). Consumer decisions when purchasing goods are more selfish than justified in the public interest. This is why socially responsible consumption is motivated when users see the benefits for themselves. Users almost always give priority to products with better functional features.An analysis of the literature proves that corporate social responsibility (CSR) is not the dominant criteria in making purchase decisions of consumers. CSR is less important than the other purchase criteria such as price, quality, reliability, customer service, product warranty period, etc. The main reasons, which restrict socially responsible consumption are misconception of consumers, the perception that they have not much power to solve global problems, as well as lack of income, education and information about socially responsible consumption.KEY WORDS: corporate social responsibility, socially responsible consumption, consumer behavior.JEL CODES: M140, M310, L200, A130.DOI: http://dx.doi.org/10.15181/rfds.v15i1.98

THE EVALUATION OF ONLINE MARKETING CHANNELS EFFICIENCY IN LITHUANIA

Advanced internet infrastructure and increasing internet usage both in corporate and home levels broadens opportunities for marketers. The internet as a marketing channel became one of the most important tools for communication between the seller and consumer. More and more companies rely on the internet and increases the budget for the next generation strategies. However, the channels (Search Engines Optimization, Search Engines Marketing, Email Marketing, Invasive Marketing, Syndicated content Marketing, Social Media Marketing and etc.) are chosen intuitively. There is no proven efficiency of different channel or tool. Marketers know the technical description, can calculate budgets but the efficiency differences are unclear. The purpose of the article is to analyse and describe the efficiency of each online marketing channel. Quantitative research method was used to analyse the efficiency of online marketing channels. A survey of Lithuania’s internet users reveals the most acceptable (efficient) online marketing channels. The article scientific aim is to identify which online marketing channels are the most efficient. The findings are valuable at least for Lithuanian market as it reveals the efficiency of different online marketing channels. Companies can make the strategic decisions and choose the most powerful and money efficient channels combination to achieve their marketing goals.KEYWORDS: online marketing, internet marketing, marketing channels, Search Engines Optimization, Search Engines Marketing.JEL CODES: M310DOI: http://dx.doi.org/10.15181/rfds.v19i2.128

THE INFLUENCE OF FOREIGN BANK ENTRY ON THE DEVELOPMENT OF REGIONAL FINANCIAL MARKETS

Intensive international activity of banks caused by fairly recently lifted financial restrictions in many countries has been a subject ofgreat scientific interest ever since. The article describes various short-term consequences of foreign bank penetration in the financialmarkets of some of the regions of the world. The authors pay specific attention to the reasons and modes of foreign bank entry inemerging market and transition market economies as well as to the differences in the impact of such entry on the stability and efficiencyof financial systems and economies of the countries of Asia, Latin America, Central and Eastern Europe and Russia. Researchmethods: systemic, comparative and logical analysis.KEYWORDS: foreign bank entry, emerging market economies, bank competition, banking sector stability

Assessment of the Deadweight Loss Arising from the Imperfect Competition in the Banking Market

Financial market failures lead to the deadweight (welfare) loss for the society. Assessment of the deadweight loss started with so called the Harberger Triangles, where Harberger offered a clear and persuasive derivation of the triangle method of analyzing the deadweight loss and applied the method to estimate deadweight losses due to income taxes in the United States. Hertog further put the deadweight loss into the model with government intervention to assess the optimal level of welfare loss control. This concept is central in regulatory economics. Harberger’s approach is based on the deviation of market equilibrium measured in terms of price and quantity. When analyzing the imperfect competition as one of the market failures authors have identified in the literature variables for “price” and “quantity”. Research presents the approach how to calculate the deadweight loss arising from the imperfect competition using the following variables: “price” – interest rates (loans), “quantity” – exposure of loans on banks’ balance sheets. Outcome of the research is the integral for assessment of the deadweight loss arising from the imperfect competition. Deadweight loss calculations for selected countries show results corresponding to the expectation to be lower than 12% - maximum value is 4,6% for Latvia, which experienced the most significant increase in the banking market concentration from the sample. Research methods used: literature analysis, regression analysis, mathematical analysis tools (integrals)