9
VOLUME 2, No. 1, 2016
Service sector
Financial services
Non-financial services
Banking
services
Insurance services
Investment services
Transportation services
Social services
Information technology and
telecommunications services
Tourist services
Hotel services
Construction services
Legal services
Other financial services
Other non-financial services
Source: compiled by the author.
Figure 1.
Structure of the Service Sector
SRI system
SRI subjects
Direct stakeholders:
– staff,
– customers,
– shareholders,
– providers,
– creditors.
Indirect stakeholders:
– mass media,
– local community,
– government,
–
society as a whole,
– competition.
Relationships
financial, material,
labor, social, etc.
Objects SRI
exposure through the direct
influence factors
Investments
medium and long term
SRI principles
– protection of the biosphere;
– sustainable use of natural
resources;
– reduce waste & recycling;
– energy conservation;
– restoration of the environment;
–
informing the public;
– liability management;
– auditing and reporting.
impact th
rou
gh indirect factors o
f
influ
ence
material
intangible
receipt of financial, social, environmental, ethical effects.
Purpose SRI
Source: compiled by the author.
Figure 2.
Formalization of SRI: System Approach
10
CONTEMPORARY PROBLEMS OF SOCIAL WORK
Level
Effect
External social responsibility of business
Baseline (
Base Social Responsibility):
– Compliance with the legal framework;
– Timely payment of taxes;
–
Payment of wages;
– Providing new jobs (an extension of the working state).
Getting social and
financial effects.
Internal social responsibility of business
The second level (
corporate social responsibility):
– Ensuring safe conditions at work;
– Raising the level of qualification of employees;
– Preventive treatment and social insurance personnel;
– Housing construction;
– Development of social sphere;
– The provision of social packages;
– Assistance in critical situations.
Getting the social,
financial
and ethical
effects.
Systemic social responsibility of business
The third level (
Sustainable social responsibility):
– Charitable and sponsorship activities;
– The transfer of a number of control functions in the social
sphere from the state to the business community;
– Protection of the environment from the adverse effects;
– Corporate volunteering and philanthropy;
– Interaction with the local community and the authorities;
– Production of environmentally friendly and health-products.
Getting the social,
financial, ethical and
environmental
effects.
Source: compiled by the author based on [2; 3; 4].
Figure 3.
Structural and Compositional Analysis of the
“Corporate Social Responsibility” Concept
The structurally decomposition analysis of the “corporate social responsibility” concept
conducted by the authors has revealed three levels: basic (external responsibility), corporate
(internal liability) and a stable system or social responsibility (internal and external). Each
level includes different previous and additional effect, generated at that level. For example,
if a company with basic social responsibility can accumulate only financial and social impact,
organizations with corporate social responsibility can achieve also an ethical effect, then the
highest level of business structure is able to generate and environmental benefits which meets
the sustainable development principles.
Analysis of domestic practice and empirical research shows that Russian economic operators
mainly used the following types of socially responsible programs in services [11]:
– Custom–designed programs of the organization;
– Partnership programs with non–profit
companies;
– Partnership programs with local, regional and federal governments;
– Program of cooperation with civil society organizations and professional associations;
– Programs of information cooperation with the media.
Table 1 show the leading domestic service industries, which are subject to public–private
partnerships and use in their different areas of activity for the implementation of socially
responsible investment policy [3; 8; 10;14], namely:
– The promotion of education;
– Aid medicine, help culture and the arts,
– Promoting the sport, the protection of pensioners and veterans,
protection of children in
difficult situations,
– Improving the lives of employees and environmental protection.
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VOLUME 2, No. 1, 2016
Table 1
Common Activities of Russian Service Companies in the Field of Socially Responsible Investment
Direction
Companies
Education
Medicine
Culture and
the arts
Sport
Social sphere
Environ-
mental pro-
tection
Pension-
ers and
veterans
Protec-
tion of
children
Staff
JSC “UniCredit Bank”
+
+
+
+
+
+
+
+
PLC “AK Bars Bank”
+
+
+
+
+
+
+
+
PLC “Sberbank of Russia”
+
+
+
+
+
+
+
PLC “Aeroflot”
+
+
+
+
+
+
+
PLC “Rostelecom”
+
+
+
+
+
+
+
JSC “Alfa–Bank”
+
+
+
+
+
+
+
PJSC “VTB 24”
+
+
+
+
+
+
+
PLC “MTS”
+
+
+
+
+
+
PLC “VimpelCom”
+
+
+
+
+
+
PJSC “MDM Bank”
+
+
+
+
+
+
PLC “MegaFon”
+
+
+
+
+
PLC “Transaero Airlines”
+
+
+
+
+
Banking group “Zenith”
+
+
+
+
Source: compiled by the author based on [3; 8; 10].
As can be seen from Table 1 the most popular areas of socially responsible investing in
the service industry are sports, culture and art, as well as the care of children and their own
employees. It should be noted that the largest number of programs being implemented in the
following subjects: JSC “UniCredit Bank”, PLC “AK Bars Bank”, PLC “Sberbank of Russia”, PLC
“Aeroflot”, PLC “Rostelecom”, JSC “Alfa–Bank”, PJSC “VTB 24”.
The analysis shows that the banking sector makes a great contribution to the implementation
of socially responsible investment programs in Russia.
Figure 4 is presented data on economic subjects, which shows great concern in the
implementation of socially responsible investment and have become an innovators of public–
private partnership in the Russian Federation.
35,0%
21,0%
21,0%
13,0%
10,0%
Banking sector
Oil
and gas companies
Telecommunication
companies
Airlines
Automotive
Source: compiled by the authors based on their own calculations and the source [19].
Figure 4.
Industry Sectors Involved in the Implementation of Socially Responsible Investment
in the Russian Federation
Taking into account the statistical data, we can surmise that SRI leaders in the Russian
Federation are first of all financial intermediaries. Their activity is carried out under conditions
of high financial riskiness. In this regard, banks and insurance companies are most interested in
improving the social responsibility policy, which in turn creates confidence to them by clients.