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Are you socially responsible?

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Author: Laura Zvejniece

Comment by Artis Straupenieks

Kapitāls, March 2014 (195)

A slogan that is heard in Latvia with increasing frequency is socially responsible business, but whether this means charity, paying taxes or just part of one’s marketing strategy, remains a matter of opinion. One thing is clear: consumers want to buy more goods that are not the cheapest available but those whose manufacturer matches one’s ideology, including, in many cases, being a socially responsible company.

Since the 1990s, corporate social responsibility (CSR) has been advanced as good business practice and an organised movement. It means that the idea is no news to the world or to Latvia, although studies performed in Latvia indicate that a very small share of companies and state institutions understand the essence of CSR and support.

Full article in Latvian language available here.